The global airline industry is expected to generate less in profit this year than previously tho🍸ught, the International Air Transport Association said ♋Monday. 

The IATA trimmed its net profit estimate for the industry to $36 billion in 2025 down from its prior forecast of $36.6 billion from December, citing trade tension and declining consumer confidence. The revised figure is still higher than the $3🐼2.4 billion earned in 2024. 

“The first half of 2025 has brought significant uncertainties to global markets,” the IATA said. "Nonetheless, by many measures including net profits, it will still be a better year for airlines than 2024, although slightly below our previous projections.” The agency said it expects a record 4.99 billion air travelers this year and all-time high revenue of $979 billion. 

The downward revision comes as major U.S. carriers Southwest Airlines (LUV), American Airlines (AAL), and Delta Air Lines (DAL) 澳洲幸运5官方开奖结果体彩网:each withdrew their full-year outlook in April amid economic uncertainty. United Airlines (UAL) offered a pair of earnings forecasts that varied on whether the economy entered a recession.

Shares of American, Delta, and United are each down significantly this year. Southwest shares turned positive last week as the airline 澳洲幸运5官方开奖结果体彩网:introduced changes designed to drive up revenue, including nixing its signature “two bags fly free” policy.