Though a rise in the total number of passengers is expected - jumping from 4.1 billion in 2017 to 4.3 billion - the growth in this rise has decreased.
Capacity grew 6.2% and load factor climbed 0.8 percentage points to 80.8%, which was a record for the month.
"North American airlines have generated more than half of the industry's profits produced in the past three years, but rising cost pressures have slowed further improvements", the report said. She highlighted examples such as for the last mile for small parcel deliveries, transporting goods to remote or isolated areas and on routes which are not economically viable for larger aircraft.
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Airlines are on course to increase profits again in 2018, a major industry body has said.
In its latest forecast, Iata also hoisted its 2017 global profitability forecast for the second time this year.
All regions are expected to post improved profits year-on-year in 2018 with the North American carriers leading the pack at US$16.4 billion, which is almost half of the collective bottom line. The demand for air cargo is at its strongest level in over a decade.
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Aside Africa, virtually all the continent's airlines from Asia Pacific, Europe, Middle East, North America and Latin America recorded appreciable traffic growth. "It's still, however, a tough business and we are being challenged on the cost front by rising fuel, labour and infrastructure expenses", he told a media briefing here yesterday.
The IATA said the higher revenues are due in part to more passengers and more cargo.
The Iata chief said the industry also faces longer-term challenges. "To continue to deliver on our full potential, governments need to raise their game-implementing global standards on security, finding a reasonable level of taxation, delivering smarter regulation and building the cost-efficient infrastructure to accommodate growing demand", De Juniac added. It is also an announcement of global passenger traffic results for October showing that demand (measured in revenue passenger kilometres or RPKs) rose 7.2 per cent, compared to the same month a year ago. Turning to environmental concerns, IATA, which said the inflation-adjusted cost of flying had halved for consumers since 1996, said aviation was committed to managing its carbon footprint with a near-term goal of capping emissions through carbon-neutral growth from 2020.
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