Airlines industry to post net profit of $9.8 billion this year: IATA
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Willie Walsh, director general of the International Air Transport Association (IATA), said despite economic uncertainties, people are flying to reconnect, explore and do business. The latest data shows that passenger traffic is over 90 per cent of 2019 levels.
Istanbul. IATA said on Monday that the airlines industry is expected to post a net profit of $9.8 billion this year. The performance of the industry has improved due to increase in passenger numbers and revival of economies of various countries. Willie Walsh, director general of the International Air Transport Association (IATA), said despite economic uncertainties, people are flying to reconnect, explore and do business. The latest data shows that passenger traffic is over 90 per cent of 2019 levels.
He told the annual general meeting of IATA here that there are more passengers at airports and more people in hotels, local economies are rebuilding and the airlines industry has become profitable. The airlines industry is expected to generate revenue of US$803 billion and net profit of US$9.8 billion this year. He said airlines would earn an average of $2.25 per passenger. He said the aviation industry is recovering post the pandemic, but there are still challenges such as cost pressures and supply-chain disruptions.
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