In Europe, the war between Russia and Ukraine hinders travel within the continent and connections with Asia-Pacific, but should not jeopardize the recovery of air transport, which is about to end 2022 with a net loss of $3,9 billion. Globally, the sector is expected to end the year with overall losses of $9,7 billion, but there is "confidence" in the possibility of a return to profit as early as 2023. This was stated by Willie Walsh, CEO of the International Air Transport Association (Iata), during a meeting with the press at the annual meeting in Doha.
“Airlines are resilient,” Walsh added. “More and more people are flying, and the cargo sector is performing well even in a context of growing economic uncertainty. It is a time of optimism, although there are still cost challenges, particularly on fuel, and some lingering restrictions in some key markets."
According to Iata, the number of passengers will reach this year 83% of pre-pandemic levels thanks to a number of factors:
- strong demand suppressed due to the pandemic;
- the lifting of travel restrictions in most markets;
- the low unemployment rate in most countries;
- the increase in personal savings.
Revenues overall industry totals are expected to come in at $782 billion, up 54,5% from 2021 and 93,3% from 2019. Flights operated in 2022 are expected to rise to 33,8 million, equal to 86,9 .2019% of XNUMX levels.
Only in the segment pleasevolume is expected to reach a record high of 68,4 million tonnes in 2022.
“The improvement in the financial perspective comes from cost containment – Welsh said again – increased by 44% against revenues up by 55%. With the industry returning to more normal production levels and with high fuel costs likely to linger for a while, profitability will depend on continued cost control. And this concerns the whole value chain”.
