In its 2023 projection, IATA anticipates that the global aviation industry will become profitable.
The International Air Transport Association (IATA), the industry trade group for airlines, predicts that the airline sector would return to profitability in 2023, around two years after the Covid-19 outbreak left it reeling. The group, which has its headquarters in Geneva, also anticipates that airlines will report a meagre net profit of $4.7 billion at a net profit margin of 0.6%. It will mark the airline sector’s first profit since 2019, when net profits totaled $26.4 billion, or a 3.1% net profit margin. The estimated $6.9 billion loss for the airline industry in 2022 is a decrease from the $9.7…