The global airline industry is forecasting record profits next year, despite ongoing supply issues that are slowing fleet renewals, the International Air Transport Association (IATA) said, Reuters reports.
According to IATA, the aviation sector will record a net profit of $41 billion in 2026.
The upbeat forecast comes amid ongoing difficulties for major aircraft manufacturers:
- Airbus recently lowered its 2026 aircraft delivery target, citing quality issues with some metal fuselage panels on its A320 models.
- Both Airbus and Boeing have faced delays in delivering new aircraft to their airline customers in recent years.
Airlines say they cannot significantly reduce fuel costs while increasing passenger traffic without new, more fuel-efficient aircraft.