A return to profitability is “within reach” for the airline industry

A return to profitability is “within reach” in 2023 for airlines, which expect to regain 83% of their passengers from before the Covid-19 pandemic this year, they announced on Monday.

Nearly 140 billion deficit in 2020

The sector is still expected to lose a cumulative $9.7 billion this year, but it will be a “huge improvement” after the $137.7 billion lost in 2020 and the $42.1 billion in 2021, the Association pointed out. Air Transport Association (Iata), which brings together the vast majority of airlines worldwide and holds its annual general meeting in Doha.

“Sector-level profitability in 2023 looks within reach, as [les compagnies] in North America​ is expected to generate a profit of 8.8 billion as early as 2022,” Iata said in a statement.

60% fewer customers

In addition, “strong latent demand, the lifting of movement restrictions in most markets, low unemployment in most countries and personal savings are fueling a recovery that will see passenger numbers reach 83% pre-pandemic level [cette année] “, assured the organization.

The health crisis, the effects of which were felt from March 2020, torpedoed the airline sector, which lost 60% of its customers that year. In 2021, attendance had only risen to 50% of the 4.5 billion passengers welcomed in 2019.

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