IATA upgrades 2022 airline sector outlook

IATA Director general Willie Walsh said it is a time for optimism, even if there were still challenges on costs, particularly fuel, and some lingering restrictions in a few key markets, and profitability is on the horizon for 2023.

PETALING JAYA: The International Air Transport Association (IATA) has upgraded its outlook for the airline industry’s 2022 financial performance as the pace of recovery from the Covid-19 crisis quickens.

In a statement, IATA said industry losses are expected to reduce to less than US$9.7bil (RM42.7bil) (improved from the October 2021 forecast of a loss of US$11.6bil or RM51.1bil) for a net loss margin of 1.2%.