(Agence France-Presse, Geneva, 9th) The International Air Transport Association (IATA) stated today that despite facing multiple adverse global factors, several international airlines estimate that next year’s passenger volume will reach a new high of 5.2 billion.

IATA added that airlines are also projecting this year’s profits to exceed previous forecasts, estimating that profits will remain at similar levels next year.

IATA consists of about 360 airlines, covering 80% of global air traffic. The association noted that this year’s profits are expected to reach $39.5 billion, higher than the $36 billion estimated during the annual meeting in June.

IATA Chairman Willie Walsh mentioned that despite the impact of trade disputes initiated by the United States, the outlook for the industry has improved thanks to better-than-expected performance in air cargo.

The association also mentioned that next year’s profits are estimated to reach $41 billion, but the ongoing issue of aircraft supply shortages may limit performance growth. Additionally, passenger volume this year is expected to approach the 5 billion mark, reaching 4.98 billion, breaking the previous record of 4.77 billion set last year.