Airline Industry to Return to Profits in 2023, Defying Economic Woes

The worldwide airline industry is expected to return to profit by 2023 with pent-up demand for travel driving bookings even as the global economy tightens, predicts the International Air Transport Association (IATA). In its annual meeting on 20JUN, IATA said losses for 2022 are likely to total USD $9.7 billion, which is an improvement over the $11.6 billion deficit predicted at the previous gathering in OCT 2021. IATA Director General Willie Walsh said that by 2023, “most markets” should see air traffic return to or even exceed pre-pandemic levels.

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