Airline industry net profit to reach US$9.8 bln in 2023

📆 5/6/2566 21:01:00
📰 theSundaily

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Total revenue is expected to grow 9.7 per cent year-on-year to US$803 billion, the first time revenue is topping the US$800 billion mark since 2019’s US$838 billion. theSun theSundaily revenue Airlines profit WorldNews

: Airline industry net profit is expected to reach US$9.8 billion in 2023 with a 1.2 per cent margin, which is more than double the previous forecast of US$4.7 billion made in December 2022, said the International Air Transport Association today .

“The stronger profitability is supported by several positive developments. China lifted COVID-19 restrictions earlier than anticipated. 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,” Walsh said in a statement today.

For 2023, expense growth is expected to be contained with an 8.1 per cent annual increase, said IATA.

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