Global airlines have more than doubled their 2023 profit forecasts to $9.8 billion from $4.7 billion, amid optimism driven by strong travel demand as the sector recovers from the repercussions of Corona. Projected revenue levels for 2023 are also close to pre-pandemic levels, rising to $803 billion from $838 billion in 2019.
Willie Walsh, director general of the International Air Transport Association (IATA), explained at the association's annual meeting that profit margins of 1.2 percent are still too weak to ensure the sector's long-term financial strength.
Source (Asharq Al-Awsat Newspaper, Edited)
