This is the fifth edition of T2RL's report on the market for online direct passengers, specifically those booked via airline Internet Booking Engines (IBE). This edition, published in January 2025, describes the state of the market using current contract data along with passenger volume information relating to 2023 and projected figures for full year 2024. Our projection for 2024 shows that online direct passenger numbers are now running significantly higher than the 2.02 billion reached in 2019 before the Covid-19 pandemic.