THE INTERNATIONAL AIR TRANSPORT ASSOCIATION
(IATA) has published a revised outlook for 2023, with airline profits set to be higher than originally forecast, and the number of people taking flights closing in on pre-pandemic levels.
The association said that airline industry net profits are expected to reach US$9.8 billion this year, more than double the previous forecast of US$4.7 billion that was published in December 2022.
It also said that 4.35 billion people are now expected to fly in 2023, not far off the 4.54 billion people who took a flight in pre-pandemic 2019.
Polling carried out last month indicates that 77 per cent of respondents are now travelling as much or more than they did before Covid-19. And the International Airlines Group (IAG) recently said it expects capacity to be around 97 per…
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Business Traveller Asia-Pacific Edition (Digital) - 1 Issue, July - August 2023