Airlines
IATA Upbeat on Recovery, Forecasts Return to Profit in 2023
Airlines are seeing a strong uptick in demand and expect to return to profit in 2023 though the re-start is causing disruptions in Europe and North America
IATA director general Willie Walsh addresses the 2022 Annual General Meeting in Doha on Monday. (Photo: IATA)
IATA director general Willie Walsh addresses the 2022 Annual General Meeting in Doha on Monday. (Photo: IATA)

The International Air Transport Association (IATA) has lowered its projection for industry losses for 2022 by $1.9 billion—to $9.7 billion—in spite of rising inflation and the massive increase in the price of jet fuel, which represents the largest single cost item for operators. In October last year, the airline trade body expected the industry to post an $11.6 billion loss this year. IATA also upgraded its outlook for 2023 and said industry-wide profitability next year “appears within reach,” with North America already expected to deliver an $8.8 billion profit in 2022.