Highlights include:
- Airlines are expected to achieve a combined total net profit of $41 billion in 2026 (up from $39.5 billion in 2025). While this would set a new record, the net profit margin is expected to be unchanged from 2025 at 3.9%. Net profit per passenger transported is expected to be $7.90 (below the 2023 high of $8.50, and unchanged from 2025).
- Operating profit in 2026 is expected to be $72.8 billion (up from $67.0 billion in 2025) for a net operating margin of 6.9% (improved on the 6.6% expected for 2025).
- Return on invested capital (ROIC) is expected to be 6.8% (unchanged from 2025). Despite deleveraging and improved operating profitability, ROIC is expected to remain below the weighted average cost of capital (WACC) estimated to be 8.2% in 2026.
- Total industry revenues are expected to reach $1.053 trillion in 2026 (up 4.5% on the $1.008 trillion expected revenues in 2025).
- Load factors are forecast to continue to set record highs with airlines expected to fill 83.8% of all seats over the year 2026.
- Passenger numbers are expected to reach 5.2 billion in 2026 (up 4.4% on 2025).
- Cargo volumes are expected to reach 71.6 million tonnes in 2026 (up 2.4% on 2025).
Learn more about the global outlook.
Tags: IATA
