Air Travel To Soar Near Record In 2023
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Airlines will return to profit and fly a near-record 4.35 billion passengers this year, but the sector’s post-pandemic recovery remains fragile, an industry group said on Monday.
The industry is forecast to post net profits totally $9.8 billion in 2023, or double previous estimates, boosted by the end of China’s Covid restrictions, according to the International Air Transport Association (IATA).
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The association added that its 2022 losses were half as bad as previously estimated at $3.6 billion.
“Airline financial performance in 2023 is beating expectations,” IATA director general Willie Walsh said in a statement during the association’s annual general meeting in Istanbul.
