According to the(IATA) 2017 outlook, the global aviation industry is expected to enjoy its most profitable three years in history, retaining $7.54 for every passenger carried in 2017. Factors keeping the projected 4.1% profit margin short of last year’s all-time high of 5.1% include rising oil prices (expected to account for 18.7% of costs) and a decrease in passenger load factor (down to 79.8% from 80.2% in 2016). In 2017, the industry is expected to add 1,700 new aircraft, expanding the global commercial fleet by 3.6% to 28,700. The report projects operations to top out at 38.4 million flights, an increase of 4.9% over 2016. Globally, airlines have realized eight straight years of profitability.