Airline Revenue Surpasses Pre-pandemic Levels In 2023
Airline revenue surpasses pre-pandemic levels in 2023
Following a better-than-expected performance, total airline revenue in 2023 is estimated to have recovered to around 107% of the pre-Covid level. The exceptional year-on-year (YoY) growth is driven by strong passenger revenue but is partly offset by lower air cargo revenue.
In 2024, passenger and cargo revenue is expected to approach the pre-pandemic split with shares of 88% and 12% respectively.
Passenger revenues are projected to reach USD 642 billion in 2023, a remarkable increase of 47% from 2022. The primary driver behind this growth has been passenger demand, which in revenue passenger kilometers is expected to reach 38% YoY.
Source: IATA Sustainability and Economics, Airline Analyst
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