QCOSTARICA (ElFinanciero) Airlines delivered bad news for countries like Costa Rica, where international tourism is a major source of income for thousands of people.
Airlines on Monday revised their traffic and profit projections for 2025 downward, citing the global economic difficulties caused by the risk of u.S. tariffs impacting the sector.
The International Air Transport Association (IATA) estimates that there will be fewer than 5 billion passengers this year, below the initial forecast of 5.22 billion published in December.
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“The first half of 2025 brought significant uncertainties to global markets,” said IATA Director General Willie Walsh at the group’s annual meeting in New Delhi.
In Costa Rica, according to official statistics, 25% of jobs are directly or indirectly related to the tourism sector.
But he added that “considering the headwinds, it is a strong result that demonstrates the resilience that airlines have worked to strengthen.”
Accumulated airline profits will reach US$36 billion, US$600 million less than originally forecast, according to IATA.
Commercial aviation revenues are expected to remain below the US$1 trillion forecast in the December forecast.
IATA now projects US$979 billion in revenues.
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Speaking to IATA delegates, Walsh urged that the tariff increases not affect the airline industry, although he did not mention United States President Donald Trump, who announced the tariffs against all of his trading partners in April.
The organization also expects 69 million tons of cargo to be transported by air this year, below the 72.5 million tons previously forecast.
However, airlines are benefiting from the drop in oil prices.
A barrel of North Sea Brent crude oil is below US$65 as a result of Trump’s tariffs and, above all, the increase in OPEC+ production quotas.
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From ElFinancierocr.com. Read the original in Spanish here.
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