IATA released their global passenger forecasts for 2019 and are looking at the new year with “cautious optimism”.
Aviation plays an important part in the global economy. It’s expected that people will spend $919 billion on air travel this year – approximately 1% of world GDP. Consumers will get a lot more value from air travel in 2019, while intensive use of new fleets will help profitability and fuel efficiency.
Alexandre de Juniac, IATA’s Director General and CEO, shared some positive words:
“Air travel has never been such a good deal for consumers. Not only are fares staying low, the options for travelers are expanding.”
Do you want to know what else can we expect for passengers in 2019? Check out the latest airline industry statistics in the infographic below.
According to the forecasted figures, passenger traffic will outpace capacity. This means that load factors will increase, which is good for an airline’s bottom line.
This doesn’t mean that 2019 will go without challenges. Issues like sustainability, infrastructure plans and airport capacity are all things that must be addressed sooner rather than later.
Let’s recap the stats:
|Passengers||4.34 billion||4.59 billion|
|Passenger traffic growth, RPK||6.5%||6.0%|
|Passenger capacity growth, ASK||6.0%||5.8%|
|Passenger load factor||81.9%||82.1%|
|Passenger revenues||$564 billion||$606 billion|
|Net profit||$32.3 billion||$35.5 billion|
|Net profit per paying passenger||$7.45||$7.75|
You can find more detailed information in the following IATA resources: