World’s airlines are set for another year of record profit in 2018, thanks to improving global economies and robust travel demand, the International Air Transport Authority (IATA) said on Tuesday.

Industry profits are expected to rise to 38.4 billion dollars in 2018, from 34.5 billion dollars in 2017, IATA said.

“Industry profitability is on a more sustained path,” IATA chief economist, Brian Pearce, said.