Iata's profitability outlook for 2023
In an upgrade of its outlook for 2023, the International Air Transport Association (Iata) expects the airline industry’s profitability to strengthen this year.
Cargo volumes are forecast at 57.8 million t, slipping below the 61.5 million t carried in 2019 with a sharp slowing of international trade volumes. Cargo revenues remain above pre-pandemic levels even though volumes have not.
And, on the cost side, there is some relief. Jet fuel prices, although still high, have moderated over the first half of the year,” said Willie Walsh, Iata’s director general.
Cargo revenues are expected to be USD 142.3 billion. While that is down sharply from USD 210 billion in 2021 and USD 207 billion in 2022, it is well above the USD 100 billion earned in 2019. (cj)