Global airlines reach record passenger numbers.

Passengers at Tan Son Nhat Airport, Ho Chi Minh City, at the end of April.

According to information released by the International Air Transport Association (IATA) on June 3, airlines are expected to achieve net profits of $30 billion this year, up from the previous estimate of $25.7 billion.

However, total costs also reached a record high, increasing by 9.4% to $936 billion. Many fossil fuel companies are also under pressure to contribute to the fight against climate change and to work towards their commitment to achieving net zero carbon emissions by 2050.

Speaking at the industry's annual meeting in Dubai on the same day, IATA Director General Willie Walsh said that the projected net profit of $30 billion this year is "a fantastic achievement considering the heavy losses caused by the pandemic."

Covid-19 plunged the aviation industry into crisis, halting fleet operations and resulting in the loss of thousands of jobs, causing $183 billion in damages over the three years from 2020 to 2022.

Despite predictions of a record-high recovery this year, the global aviation industry still faces many challenges. Profits have increased, but costs have also reached record highs. The net profit margin is only 3.1%, equivalent to airlines earning just over $6 per passenger, and only slightly higher than the 3% of 2023.

"Earning only $6.14 per customer shows just how thin our profit margin is," Walsh said, adding that that profit "is only enough for a cup of coffee in some parts of the world."

Airlines are also facing rising costs due to shortages of spare parts and labor, as well as climate change-related challenges such as flooded runways and wildfires.

In April, Dubai, the world's busiest airport in the UAE, was forced to close due to severe flooding, affecting more than 2,000 flights. According to meteorological scientists , the extremely heavy rainfall in the UAE desert may be exacerbated by global warming.

A man walks through floodwaters with the Burj Khalifa tower in Dubai, UAE, in the background on April 17.

Air transport accounts for nearly 3% of global CO2 emissions, a level considered "dangerous" because it serves only a small fraction of the world's population.

On June 2nd, IATA announced that sustainable aviation fuel (SAF) production from renewable sources will triple in 2024 to 1.9 billion liters, equivalent to 1.5 million tons . However, SAF only accounts for 0.53% of the industry's fuel demand this year.

VN (according to VnExpress)

Source: https://baohaiduong.vn/hang-khong-the-gioi-dat-luong-khach-ky-luc-383689.html