United Kingdom
United States
Asia Pacific
IATA forecasts nearly $10 billion in airline profits
Airline profits are expected to reach almost $10 billion this year, the International Air Transport Association says.
IATA flags overall profitability at $9.8 billion in 2023, more than the previous forecast of $4.7 billion in December 2022.
Airline industry operating profits are expected to reach $22.4 billion in 2023, much improved over the previous forecast of $3.2 billion.
IATA projects about 4.35 billion people will travel by air in 2023, just shy of the 4.54 billion who flew in 2019.
It expects revenues to grow 9.7% year over year to $803 billion.
If so, it would be the first time that industry revenues have topped $800 billion mark since 2019.
“Airline financial performance in 2023 is beating expectations,” said Willie Walsh, IATA’s Director General.
Jet fuel prices, although still high, have moderated over the first half of the year.”
“Economic uncertainties have not dampened the desire to travel.”
Related News Stories:
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled