IATA: Airline industry cuts 2022 losses to $9.7 B

As the pace of recovery from the pandemic quickens, the International Air Transport Association upgraded its 2022 financial outlook, reducing the airline industry’s expected losses to $9.7 billion, from $11.6 billion in its October 2021 forecast, a net loss margin of -1.2 percent.

In the Middle East, this year’s re-opening of international routes and long-haul flights in particular will provide a welcome boost for many. Despite economic challenges, cargo volumes are expected to set a record high of 68.4 million tonnes in 2022. “Our suppliers, including airports and air navigation service providers, need to be as focused on controlling costs as their customers to support the industry’s recovery,” he admonished.Flights operated in 2022 are expected to total 33.8 million, which is 86.9 percent of 2019 levels .

Overall, the industry is expected to carry over 68 million tonnes of cargo in 2022, which is a record high.

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