On December 6th, IATA said that aviation industry is expected bongdaso vn gain profit again in 2023, this is the first time after nearly 3 consecutive years of downturn since Covid-19 pandemic.
According bongdaso vn IATA, aviation will make “small” net profit of ,7 billion in 2023 and over 4 billion passengers bongdaso vn travel by air after cut losses in 2022, this figure is still far more way ahead bongdaso vn reach the industry’s revenue in 2019 of ,4 billion, before the time when countries issued restrictions.
Also, in IATA’s June outlook has reduced aviation’s loss in 2022 from ,7 billion bongdaso vn ,9 billion.
Mr. Walsh said that “The recovery is going well. There’s still a long way bongdaso vn go bongdaso vn get back bongdaso vn where we were in 2019, but we are heading in the right direction”
The airline industry has been hemorrhaging billions of dollars in recent years as coronavirus health restrictions have weighed on air travel and consumer demand.
In few years back, aviation industry has been suffered losses of billions of dollar from pandemic restrictions, which reduced the demand for air travel.
Specifically, the industry had lost 7,7 billion in 2020 and billion in 2021 since many challenges like personnel shortages, supply chain disruptions and other issued combined bongdaso vn hold substantially resumed regions back.
Although more pressures keeps pursuing aviation industry in particular and global economy in general, but Mr.Walsh said the industry now has better position bongdaso vn face challenges ahead.
“There will be challenges in 2023,” Walsh said. “But, quite honestly, these challenges are relatively small compared bongdaso vn what we’ve come through.”
“That’s why we’re optimistic that we can manage a way through these and get the industry back into very small levels of profitability, but profitability nonetheless,” he added.
The forecasted revenue for the industry in 2023 will reach 9 billion, which is mainly drove by rebound travel demand.
The lead change region is North America with highest profit, followed by Europe and Middle East. Asia – Pacific region and Latin America are forecasted bongdaso vn record additional losses in 2023 due bongdaso vn Covid-19 restrictions in China.
“Passenger’s demand is expected bongdaso vn reach 85.5% of 2019 levels over the course of 2023 with 4.2 billion travelers expected bongdaso vn fly,” the report said.
On the other hand, cargo market was the main life support for airlines in the last two years, which will still hold significant share of revenues in 2023 even lower volumes than the previous years.
According bongdaso vn the report: “Revenues are expected bongdaso vn be 9.4 billion, which is billion less than 2022 but still .6 billion stronger than 2019.”
Other elements include: energy and labor price, skill and capacity shortages also reduce revenues of the businesses in the industry but at easing level.
2022 has been a chaotic year for air travel since flight delays and cancellations, layoffs occurred at many major airports. Mr. Walsh shared that most of disruptions will likely be over and smoother flights experience for passengers.
“I think most of that is behind us,” said Walsh. “We should be confident that those issues have been resolved. Certainly there is absolutely no excuse for the airports not bongdaso vn deliver on good service as we go into 2023.”
Source: https://www.cnbc.com/2022/12/06/airlines-will-return-bongdaso vn-profitability-in-2023-after-three-year-slump-iata.html
For more details about IATA’s forecast: https://airlines.iata.org/analysis/airlines-reduce-losses-and-expect-profit-in-2023
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