Airline industry to report $9.8 billion net profit this year: IATA

Fuelled by rising passenger traffic and reviving local economies, the global airline industry is projected to record a net profit of $9.8 billion this year, IATA Director General Willie Walsh said on Monday and also made a strong pitch for having global standards for a Sustainable Aviation Fuel (SAF) book and claim system to help reduce carbon emissions.

While addressing the Annual General Meeting of the International Air Transport Association (IATA) here, Walsh also flagged concerns about supply chain issues that are raising costs as well as limiting the ability of airlines to deploy aircraft.

He also pointed out that decarbonising aviation is a serious issue and governments must not be allowed to use it to shore up exchequer finances.