Global air passengers to reach 83% of 2019 levels this year – Gulf Insider

Global airline industry is expected to cut losses by 16.4 per cent as air passengers are expected to hit 83 per cent of pre-pandemic levels this year, says a latest report.

The International Air Transport Association (Iata), which released its an upgraded industry outlook ahead of its annual general meeting in Doha, said aviation industry losses are expected to reduce to $9.7 billion this year from $11.6 billion predicted in October 2021 with a net loss margin of 1.2 per cent.

The global aviation body said industry’s return to profit is ‘within reach’ in 2023 despite ongoing uncertainty as losses are expected to drop to $9.7 billion this year compared to $137.7 billion in 2020 and $42.1 billion in 2021, reflecting a huge year-on-year improvement, Iata said.

Willie Walsh, director-general of Iata, said he remains confident that the industry will return to profitability in 2023.

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