Global airline bosses to address geopolitical, climate challenges

Geopolitical tensions, aircraft shortages and ambitious environmental targets will deliver a host of challenges to global airline bosses at an annual summit next week, with softening fares completing a delicate outlook for carriers. The influential IATA, which represents more than 300 airlines and over 80% of global air traffic, holds its annual meeting on June 2-4 in Dubai, the world's busiest international hub. Aviation leaders have said the pandemic that grounded most of the world's fleet and ravaged airline balance sheets at the start of the decade is finally in the rear-view mirror. The industry returned to profit in 2023 and air passenger traffic touched 2019's record numbers early this year, IATA says. Global airline capacity in the second quarter of 2024 is 4% higher than in 2019, according to aviation data provider OAG. However airlines have warned yields - the average price paid by a passenger to fly one mile - are under pressure from rising costs and competition as networks reopen or grow. Conflicts and geopolitical tensions are causing longer routes for airlines, and the aviation industry faces growing questions over whether it can achieve a target for net-zero carbon emissions by 2050 that IATA adopted in 2021.<br/>