ISTANBUL: Airlines will return to profit and fly a near-record 4.35 billion passengers this year, but the sector's post-pandemic recovery remains fragile, an industry group said on Monday. READ HERE:
The industry is forecast to post net profits totally $9.8 billion in 2023, or double previous estimates, boosted by the end of China's Covid restrictions, according to the International Air Transport Association .The association added that its 2022 losses were half as bad as previously estimated at $3.6 billion.
The sector lost another $42 billion in 2021 and was still in the red last year as China, a major market, continued to enforce Covid restrictions that were finally lifted in December.The IATA said total revenues are expected to grow to $803 billion this year, up almost 10 percent from 2022.While the industry as a whole will turn a profit, Walsh noted that it would amount to just $2.25 per passenger — a net-profit margin of 1.2 percent.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Air travel to soar near record in 2023: industry groupISTANBUL, Turkey -- Airlines will fly 4.35 billion passengers this year, close to the 2019 record as the industry bounces back from the Covid pandemic, an industry group said on Monday.
Read more »
Pagasa: Potential LPA may enter PAR MondayThe state weather bureau is monitoring two weather systems, one of which is a possible low pressure area that may enter the Philippine area of responsibility by Monday or Tuesday. | JMangaluzINQ
Read more »
Seat sale alert: Philippine Airlines offers P125 flights until June 25Time to book that flight! ✈️ | via philstarlife
Read more »
Pagasa: Potential LPA may enter PAR MondayThe state weather bureau is monitoring two weather systems, one of which is a possible low pressure area that may enter the Philippine area of responsibility by Monday or Tuesday. CDNDigital READ:
Read more »
Russian air strikes repelled over Kyiv, but hit regional airfieldRussia launched a fresh wave of air strikes against Ukraine early on Sunday, striking an airfield in a central region but failing to hit the capital Kyiv, Ukrainian authorities said.
Read more »