The International Air Transport Association has said that airlines will start making profits again this year and a record 4.35 billion passengers will travel by air, but the prospects of the airline industry’s pre-coronavirus recovery are uncertain.
According to the French news agency AFP, the International Air Transport Association (IATA) said on Monday that the aviation industry will have a total net profit of 9.8 billion dollars in 2023, which is higher than previous estimates. The increase is due to China’s lifting of COVID-19 restrictions.
The International Air Transport Association said that losses in 2022 would be half of last year’s, estimated at $3.6 billion.
“Airlines’ financial performance in 2023 is beating expectations,” IATA Director General Willie Walsh said in a statement after the association’s annual general meeting in Istanbul.
He said that more profit comes from many positive developments. China lifted the Corona restrictions earlier in the year than expected.
According to Willie Walsh, jet fuel prices remained high but moderated in the first six months of the year.
Russia’s invasion of Ukraine in February 2022 fueled global inflation, pushing up energy prices, but oil and natural gas prices have since fallen, the IATA director general said. have gone
It should be noted that before the Corona epidemic in 2019, airlines had provided facilities to a record 4.54 billion passengers. But in 2020, the industry suffered a loss of $137 billion due to lockdowns and border closures.
Even in 2021, the airline industry suffered a loss of 42 billion dollars. However, IATA has said that this year’s revenues are likely to reach 803 billion dollars, with a 10% increase compared to 2022.