IATA Forecasts Industry-Wide Return to Profitability in 2023 Written 20 June 2022

Aviation International News reports that the International Air Transport Association (IATA) has “lowered its projection for industry losses for 2022 by $1.9 billion,” and upgraded its forecast for 2023 noting that “industry-wide profitability next year ‘appears within reach,’ with North America already expected to deliver an $8.8 billion profit in 2022.”   IATA Director General Willie Walsh made the comments Monday in his opening remarks at the IATA annual general meeting in Doha, Qatar. Reasons cited for the resurgence include “strong pent-up demand, the lifting of travel restrictions in most markets, low unemployment in most countries, and expanded personal savings.”  Additionally, passenger numbers are expected to “reach 83 percent of pre-pandemic levels in 2022.”
Full Story (Aviation International News)