MUMBAI: After two years of being pummeled by the Covid pandemic, the airline industry is likely to get back on its feet and record an industry-wide profitability in 2023, according to global airlines’ trade body, the International Air Transport Association (IATA).
The trade body began its 78th annual general body meeting on Monday in Doha with a decidedly optimistic tenor.
“Airlines are resilient. People are flying in ever greater numbers. Losses will be cut to $9.7 billion this year and profitability is on the horizon for 2023,” said Willie Walsh, IATA director general.
“It is a time for optimism, even if there are still challenges on costs, particularly fuel, and some lingering restrictions in a few key markets,” he said.
