Global airlines are expected to narrow losses in 2022 amid a strong rebound in air travel demand following the Covid-19 pandemic, with a possible return to profitability in 2023, the International Air Transport Association has said.
Airlines are expected to post $9.7 billion in losses this year, a sharp improvement from losses of about $42bn in 2021, Iata’s director general Willie Walsh said during the industry body’s annual general meeting on Sunday in Doha.
“The industry is leaner, tougher, nimbler,” he said. “Industry-wide profitability is on the horizon for 2023.”
“Airlines are resilient. People are flying in ever greater numbers. And cargo is performing well against a backdrop of growing economic uncertainty. It is a time…