Carriers are also now expecting higher profits than previously forecast for 2025, and predict earnings to come in at a comparable level next year, the International Air Transport Association (IATA) added.

IATA, which groups around 360 carriers representing 80 percent of global air traffic, said 2025 profits are projected to reach US$39.5 billion, up from the US$36 billion they predicted at the body’s annual general meeting in June.

IATA’s Director General Willie Walsh attributed the improved outlook to air freight’s better performance, achieved despite trade disputes triggered by the United States.

Profits in 2026 are projected at US$41 billion, with persistent aircraft availability problems putting a cap on performance, IATA said.

Passenger numbers this year are expected just shy of the five-billion figure, at 4.98 billion, up from 4.77 billion in 2024 the previous record figure.