Airline industry net profit to reach US$9.8 bln in 2023 ...Middle East

ISTANBUL: Airline industry net profit is expected to reach US$9.8 billion in 2023 with a 1.2 per cent margin, which is more than double the previous forecast of US$4.7 billion made in December 2022, said the International Air Transport Association (IATA) today (US$1=RM4.57).It said profitability is estimated to strengthen in 2023, driven by positive developments including increasing travel demand. IATA director-general Willie Walsh said this year’s financial performances are also beating expectations.“The stronger profitability is supported by several positive developments. China lifted COVID-19 restrictions earlier than anticipated. Cargo revenues remain above pre-pandemic levels even thoug

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Last updated : 05 June 2023 clock 01:20 PM

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Airline industry net profit to reach US$9.8 bln in 2023 ...Middle East

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