The International Air Transport Association announced an expected strengthening of airline industry profitability in an upgrade of its outlook for 2023.
According to the Director-General, IATA, Willie Walsh, airline industry net profits are expected to reach $9.8bn in 2023. This represents over 100 per cent increase over the previous forecast of $4.7bn .
He said, “Airline industry operating profits are expected to reach $22.4bn in 2023, much improved over the December forecast of a $3.2bn operating profit. It is also more than double the $10.1bn operating profit estimated for 2022.” “Total revenues are expected to grow 9.7 per cent year over year to $803bn. This is the first time that industry revenues will top the $800bn mark since 2019 . Expense growth is expected to be contained to an 8.1 annual increase.”
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