Airlines set to soar with $25.7b profit as traffic exceed pre-Covid levels | Airlines

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Tuesday, January 9th, 2024 02:15 | By Willie Walsh, IATA’s Director General. PHOTO/Print.

Global airline industry is set to rake in $25.7 billion (Sh4.06 trillion) profit in 2024 as international travel trips finally exceed pre-pandemic levels, experts say.

They said the high profit margins will be supported by some 4.7 billion people who are expected to travel during the year. “Some 4.7 billion people are expected to travel in 2024, a historic high that exceeds the pre-pandemic level of 4.5 billion recorded in 2019,” said International Air Transport Association (IATA), the international trade body of the world’s airlines.

Batch of visitors

The disclosure came as Kenya in the new year welcomed the first batch of visitors under the new State policy of visa free entry. According to Willie Walsh (pictured), IATA’s Director General, cargo volumes are expected to be 58 and 61 million tonnes in 2023 and 2024, respectively, adding: “These projections reflect the industry’s resilience and the popularity of air travel.”

In a groundbreaking development, President William Ruto declared that the free visa policy will be implemented starting this month.

With the removal of visa requirements, travellers instead utilise an Electronic Travel Authorisation (ETA) available via a dedicated online platform.

This change aims to streamline the entry process, offering a faster and more efficient experience by removing the need for physical paperwork, appointments, and the potential for delays.

Kenya’s economy heavily relies on its tourism…

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