The number of people flying is anticipated to reach 83% of pre-pandemic levels this year, and the aviation sector’s return to profitability is “within grasp” by 2023, according to the International Air Transport Association.
“Airlines are tough. More and more people are taking to the skies.
And despite increased economic uncertainties, freight is functioning well “In an updated industry outlook for 2022, IATA director-general Willie Walsh stated.
The epidemic devastated the airline sector, with passenger numbers falling by 60% in 2020 and by another 50% in 2021.
Over a two-year period, airlines lost close to $200 billion.
While some businesses in the sector filed for bankruptcy, others—often supported by states—came out of the pandemic with profits unharmed.
As China continues to struggle with the pandemic, IATA was compelled to relocate its annual general meeting from Shanghai to Qatar, reflecting the ongoing disruption.
290 airlines, or 83 percent of all airlines operating globally, are represented by the international association.
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