IATA forecasts net airline profit next year

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The aviation industry recovery will reach a welcome milestone of a net airline profit in 2023.

Global airlines are set to return to the black with a net profit of $4.7bn according to the International Air Transport Association.

“Airline profit is a great achievement considering the scale of the financial and economic damage caused by pandemic restrictions,” said IATA chief Willie Walsh.

According to aviation data firm Cirium, airlines lost a combined $220bn since the Covid pandemic.

Revenues dropped by 50% in 2020.

IATA forecasts 2022 net losses of only $6.9bn.

“Yes we are recovering; and the momentum is improving; but margins are very small.”

source: Travel Mole