The aviation industry's main trade body, IATA, predicted a sharp reduction in industry losses next year as more passengers are expected to take to the skies, but revised up the financial toll inflicted by the global travel slump in 2020 and 2021
The International Air Transport Association, the industry's main trade body, predicted that net losses at airlines would narrow to $11.6 billion in 2022 from $51.8 billion this year.
"We are past the deepest point of the crisis," IATA Director General Willie Walsh told the group's annual meeting. "While serious issues remain, the path to recovery is coming into view." It expects international travel demand to double next year and reach 44% of the 2019 levels. However, the vaccination rate as well as the lifting of government-imposed border restrictions will determine the pace of recovery.
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