Feedback     
Please Feedback

Airlines News

prev     prev

Travel demand will speed West Asian airlines’ return to profits in 2023, predicts IATA

Posted : 25 June 2022 08:16:17 | By TWO Bureau | GNN Bureau

Travel demand will speed West Asian airlines’ return to profits in 2023, predicts IATA

Witnessing sharp demand for international travel, West Asian airlines are likely to become profitable next year, the latest IATA forecast has noted. 



“CEOs in the region are very positive about their financial performance, so I don’t see any reason why this region won’t be profitable in 2023,” said Willie Walsh, Director-General of the International Air Transport Association (IATA) during a media briefing in the Qatari capital.



Region-wide losses for these airlines this year will dip to $1.9 billion from $4.7 billion loss in 2021. Air travel demand is expected to reach around 79 per cent of pre-Covid levels.



Qatar Airways, one of the Gulf’s largest carriers, reported a profit of $1.5 billion for 2021, compared to a year ago loss of $4.1 billion. Emirates airline, the world’s largest long-haul carrier, is expected to return to profitability in 2023.



Walsh does not see growth getting derailed by another wave of restrictions. “We won’t see closures to the same extent because a lot of governments have recognised that closing the border has no benefit,” said Walsh. “The data is clear, (the restrictions) didn’t stop the Covid virus from spreading, and in many cases, the border was closed after the virus was widespread in the country. The economic cost of closing the border was so high that I don’t think there’ll be an appetite for governments to incur that cost.”




breaking travel news, best destinations,

Tags : ##travel_demand, # #iata, # #prediction_2023, # #growth_in_travel, # #airlines_profitability,


News Bulletin ----------


Also on Travel World Online ----------














Most Visited ----------