Reported 4 months ago
During the International Air Transport Association's annual meeting in Dubai, industry leaders warned that the cost of airfare is expected to continue rising due to factors such as worldwide inflation, high jet fuel costs, and a global push for sustainable aviation fuel. Airlines are facing challenges absorbing these costs, especially as there is a shortage of new aircraft to expand routes. Despite record-high revenues projected for the aviation industry in 2024, airline profits are expected to be modest, prompting carriers to pass on cost savings to consumers.
Source: YAHOO