MUMBAI: After posting a historic loss of around USD 140 billion in 2020 due to the Covid pandemic, the global airline industry is expected to return to profitability in 2023 due to firm consumer demand, with the net profit expected to be USD 9.8 billion this year, said the International Air Transport Association (IATA) in its transport chartbook for Q2 2023.
But the recovery profiles will vary from region to region, with not all regions expecting to breakeven this year. “Financial performance will continue to be led by the North American carriers, which are expected to post a net profit of over USD 10 billion in 2023. Europe and Middle East airlines are also likely to be profitable in 2023,
