Global airlines more than doubled their 2023 industry profit forecast to $9.8 billion from $4.7 billion cheered by strong travel demand as the sector recovers from the global health crisis
"The pandemic years are behind us and borders are open as normal," Director General Willie Walsh told the annual meeting of the International Air Transport Association .
Global airlines have in recent months reported strong results as they prepare for a busy summer season, with travel demand showing no sign of flagging despite peaking inflation.Revenue levels for 2023 are also inching closer to pre-pandemic levels, climbing to an expected $803 billion versus $838 billion in 2019.
Demand is being lifted by high levels of employment even with a weaker macroeconomic outlook, he said. An American Airlines flight lands at Logan International Airport in Boston, Massachusetts, U.S. January 9, 2018. REUTERS/Brian Snyder/File PhotoStill, Walsh told delegates from some 300 airlines that ongoing challenges, such as supply chain issues and rising airport charges, were dragging down the industry's recovery.
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