The International Air Transport Association News
Airline Profitability Outlook Improves for 2024
The International Air Transport Association (IATA) announced strengthened profitability projections for airlines in 2024 compared with its June and December 2023 forecasts. An aggregate return above the cost of capital, however, continues to elude the global airline industry.
IATA SAF Registry
The International Air Transport Association (IATA) announced that it will establish the SAF Registry (Registry) to accelerate the uptake of Sustainable Aviation Fuels (SAF) by authoritatively accounting and reporting emissions reductions from SAF.
SAF Production to Triple in 2024 but More Opportunities for Diversification Needed
The International Air Transport Association (IATA) announced that its projections for a tripling of Sustainable Aviation Fuels (SAF) production in 2024 to 1.9 billion liters (1.5 million tonnes) are on track. This would account for 0.53% of aviation’s fuel need in 2024. To accelerate SAF use, there are several policy measures that governments could take.
Blocked Funds Drop to $1.8 billion with Major Clearance in Nigeria, Challenges Persist
The International Air Transport Association (IATA) has reported a 28% decrease in the amount of airline funds blocked from repatriation by governments. The total blocked funds at the end of April stood at approximately $1.8 billion, a reduction of $708 million (28%) since December 2023.
Passenger Demand Up 11% in April
The International Air Transport Association (IATA) released data for April 2024 global passenger demand with the following highlights: Total demand, measured in revenue passenger kilometers (RPKs), was up 11.0% compared to April 2023. Total capacity, measured in available seat kilometers (ASK), was up 9.6% year-on-year. The April load factor was 82.4% (+1.0ppt compared to April 2023).
Aviation Leaders Assemble in Dubai for IATA’s 80th AGM
The International Air Transport Association (IATA) announced that the leaders of the global airline industry are gathering in Dubai, United Arab Emirates (UAE), for the 80th IATA Annual General Meeting (AGM) and World Air Transport Summit (June 2-4 2024).
Air Cargo Demand Continues Strong Growth into Q2
The International Air Transport Association (IATA) released data for April 2024 global air cargo markets showing strong annual growth in demand into the second quarter (Q2).
IATA Calls for Deeper Understanding of Aviation Contrails’ Climate Impact
IATA has issued a compelling call to deepen understanding of aviation contrails and their climate impact, emphasizing the critical need for effective mitigation measures. The newly released report highlights significant gaps in knowledge regarding contrail formation, persistence, and their specific climate effects, urging collaborative efforts to address these uncertainties.
IATA Urges Pakistan and Bangladesh to Release Airline Revenues, Citing Severe Impact on Industry
The International Air Transport Association (IATA) has called on Pakistan and Bangladesh to promptly release airline revenues totaling over $720 million that are being held in violation of international agreements. With $399 million trapped in Pakistan and $323 million in Bangladesh, airlines face significant challenges in repatriating earnings crucial for operational expenses such as lease agreements and fuel.
IATA Report Calls for Sustainable Alternatives to Single-Use Plastics in Aviation
The International Air Transport Association (IATA) has released a comprehensive report, “Reassessing Single Use Plastics Products in the Airline Sector,” aiming to assist airlines, regulators, and the airline supply chain in mitigating the environmental impacts of single-use plastic products (SUPP) in aviation.
Passenger Demand Up 21.5% in February
The International Air Transport Association (IATA) released data for February 2024 global passenger demand with the following highlights: Total demand, measured in revenue passenger kilometers (RPKs), was up 21.5% compared to February 2023. Total capacity, measured in available seat kilometers (ASK), was up 18.7% year-on-year. The February load factor was 80.6% (+1.9ppt compared to February 2023).
IATA and Smart Freight Centre Collaborate to Standardize Air Cargo Emissions Calculation
The International Air Transport Association (IATA) and the Smart Freight Centre (SFC) have teamed up to enhance CO2 emissions calculations for air cargo shipments, marking a significant stride in global decarbonization efforts within the air transport sector.