With more people and cargo taking to the skies, coupled with technological advancements, the airline industry's prospects are promising. Given the industry tailwinds, investors could consider buying airline stocks Corporación América Airports S.A. (CAAP) and Cathay Pacific Airways Limited (CPCAY), positioned for potential gains, while it would be wise to watch Copa Holdings, S.A. (CPA) now.
According to the International Air Transport Association (IATA), global passenger demand for February 2024, calculated in revenue passenger kilometers (RPKs), grew by 21.5% year-over-year, while the total capacity measured in available seat kilometers (ASK) increased by 18.7% annually.
