The International Air Transport Association now expects a net profit of $4.7 billion for the industry in 2023, with more than 4 billion passengers set to fly.
Airlines lost tens of billions of dollars in 2020 and 2021 due to the pandemic, but air travel has partially recovered and some airports have struggled to cope.
But the former British Airways and IAG boss warned that many airlines will continue to struggle next year, citing regulations, high costs, and inconsistent government policies – and reopening“It’s very important that everybody understands just how fragile the recovery is. Yes we are recovering; yes the momentum is improving; yes, we expect it to continue to improve in 2023,” Walsh told an annual media briefing.
Airports immediately pointed the finger back at airlines. Tensions have been high since Europe’s summer travel chaos. Airport fees reflect the same inflationary pressures, he said, adding, “So I ask you, who is really gouging who here?”Downside risk
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