IATA's Annual Review 2026
A record year on paper — $45B net profit, five billion passengers, 5.7% traffic growth — but the industry's 4.2% margin remains thinner than most grocery chains. The SAF arithmetic is the starkest number in the report: 500 million tonnes a year needed by 2050, against near-zero production today. The Director General's note that oil price shocks in early 2026 could halve those record profits is a useful corrective to any triumphalism.
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