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Airlines Are Set to Make Even More Money Off Passengers in 2018

07 December 2017

"These are good times for the global air transport industry".

And cargo demand, also a bright spot in 2017 with demand up 9.3 percent after a tough few years, is expected to moderate to 4.5 percent in 2018. "We have a clear strategy that is delivering results on environmental performance", said Iata Director General and CEO Alexandre de Juniac. "This led cargo volume to grow at twice the pace of the expansion in world trade (4.3%)", said IATA.

Capacity increased 6.2 percent, and load factor increased 0.8 percent.

"The region's carriers face challenges to their business models, and from low oil revenues, regional conflict, crowded air space, the impact of travel restrictions to the United States, and competition the new "super connector" [Turkish Airlines]", IATA said.

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The association expects oil prices to average $60 for a barrel of Brent Crude - a rise of 10.7 per cent on this year, taking oil-related costs up from 18.8 per cent to 20.5 per cent. Accelarating labour costs will see wages take a 30.9 per cent chunk. meanwhile. next year.

In 2018, IATA forecast airline passengers to spend US$861b, or 1 per cent of world GDP, on travel.

Airlines are on course to increase profits again in 2018, a major industry body has said. The demand for air cargo is at its strongest level in over a decade.

Rising ticket revenues have helped major European airlines report better than expected profits this year, and IATA said it was upgrading its net profit forecast for Europe to $9.8 billion this year, from a previous estimate of $8.6 billion, and profits should rise further to $11.5 billion next year. "More routes are being opened", he told the IATA global media conference in Geneva, Switzerland. De Juniac also cited potential government interference in aviation practices as a factor in the coming year.

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"By bringing together people of different backgrounds and cultures to do business, to learn from one another and to solve problems, aviation provides enormous value beyond what can be calculated".

Longer-term challenges, that de Juniac blamed on governments, are global security standards, tax levels, regulation and infrastructure.

He said the aviation industry benefits to the economy include 2.7 million direct jobs and support for 3.5 per cent of global economic activity. In September, worldwide passenger demand had increased 6.6 percent from the previous month.

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Airlines Are Set to Make Even More Money Off Passengers in 2018