国际航空运输协会理事长威利·沃尔什：航空业利润微薄 亚太地区客运需求强劲

Core Insights - The airline industry is facing a significant challenge with low profit margins, which are insufficient to cover capital costs, highlighting the need for a rebalancing of profit distribution within the value chain [1] - The International Air Transport Association (IATA) forecasts a record net profit of $41 billion for global airlines in 2024, with a net profit margin of 3.9% [2] - The industry is expected to see a continued increase in passenger demand, with a projected 5.2 billion passengers in 2026, while cargo demand remains resilient [2][5] Financial Performance - Global airlines are projected to achieve a total revenue of $1.054 trillion in 2026, representing a 4.5% increase from 2025 [2] - The average net profit per passenger is expected to be $7.90 in 2026, slightly down from $8.50 in 2023 [2] - The passenger load factor is anticipated to reach a historic high of 83.8% in 2026 [2] Cost Challenges - The IATA predicts a more balanced cost environment in 2026, with fuel costs expected to decrease slightly to $252 billion, while non-fuel costs are anticipated to rise [3] - Fuel costs are projected to account for 25.7% of total operating expenses, down from 26.8% in 2025 [3] - Supply chain disruptions and an aging fleet are leading to increased maintenance costs and rental prices, creating additional financial pressures on airlines [3][4] Regional Insights - The Asia-Pacific region is expected to lead in passenger demand growth, driven by countries like China and India, with a projected load factor of 84.4% in 2026 [5] - Europe is anticipated to have the strongest financial performance among regions, while Africa's growth potential is limited due to lower GDP per capita [5]