Economy · June 21, 2022

Aviation Recovery Is Accelerating Despite Uncertainty: IATA

Air passengers are expected to reach 83% of pre-pandemic levels this year and the aviation industry’s return to profit is “within reach” in 2023 despite continuing uncertainty, International Air Transport said Monday. Association.

Industry losses are expected to drop to $ 9.7 billion this year, a “huge improvement” from $ 137.7 billion in 2020 and $ 42.1 billion in 2021, IATA said in an industry perspective. updated ahead of its annual general meeting in Doha.

A Singapore Airlines passenger plane approaches for landing at Changi International Airport in Singapore on June 20, 2022. (Photo by Roslan RAHMAN / AFP)

“Airlines are resilient. People fly in increasing numbers. And the cargo is doing well in a context of growing economic uncertainty, “said the document quoted by IATA Director General Willie Walsh.

The aviation industry has been rocked by the pandemic, with passenger numbers down 60% in 2020 and 50% fewer in 2021. Airlines have lost nearly $ 200 billion in two years.

While some companies in the industry went bankrupt, others – often backed by states – emerged from the pandemic with profits intact.

IATA said the profitability of the entire industry “seems within reach” in 2023, adding that North American airlines were expected to return a profit of $ 8.8 billion this year.

More than 1,200 aircraft are expected to be delivered in 2022, while cargo volumes are expected to reach a record 68.4 million tonnes “despite economic challenges,” he added.

International Air Transport Association (IATA) Director-General Willie Walsh delivers his speech at the Changi Aviation Summit in Singapore on May 17, 2022. (Photo by Roslan RAHMAN / AFP)

“Strong pent-up demand, lifting of travel restrictions in most markets, low unemployment in most countries and rising personal savings are fueling a recovery in demand that will see passenger numbers reach 83%. of pre-pandemic levels in 2022, “IATA said.

Airlines, desperate to leave the coronavirus pandemic behind, enter talks in Doha ahead of a potential summer of chaos with shortages and strikes that could threaten their recovery.

As trade resumes life, aviation industry representatives meeting until Tuesday in Qatar have a busy agenda with multiple geopolitical crises including the war in Ukraine and the environment.

Cracks are already appearing in the industry recovery, although industry data is optimistic about the future despite the problems.

In recent weeks, delays and cancellations caused by shortages at airports and strikes for better pay have devastated travelers.

The problems began with the pandemic when airlines and airports laid off thousands of workers during the worst crisis ever. Now they are climbing for employees.

Also reflecting the ongoing disruption, IATA was forced to move its annual general meeting from Shanghai to Qatar as China continues to struggle with the pandemic.

The global association represents 290 airlines, accounting for 83% of air travel worldwide.

q / e / e