12/6/2022, 11:29 AM (Source: TeleTrader)
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IATA expects aviation recovery in 2023

The International Air Transport Association (IATA) stated Tuesday that airlines would enter into a recovery territory next year, with a global net income of $4.7 billion for the industry and over 4 billion passengers set to fly.

According to the information released by the association, the industry will see a reduction in losses from $9.7 billion to $6.9 billion in 2022. The outlook is seen as an achievement amid the current financial situation and after governments' pandemic restrictions.

However, despite the positive note, IATA Director General Willie Walsh cautioned that some airlines would continue facing significant financial issues amid regulations, higher prices, and unstable government policies.

Baha Breaking News (BBN) / JG