Montreal-Sana
The International Air Transport Association (IATA) said that the significant recovery in air travel will reduce losses for global airlines this year and may return to profits again next year.
Reuters quoted Willie Walsh, director general of IATA, as saying at an annual meeting of more than 100 airline managers that "a profit is expected at the sector level next year."
The Federation expected that global airlines would incur a loss of $9.7 billion this year, compared to $42.1 billion in 2021.
Last year's losses were lower than the previous forecast of $52 billion despite airlines warning that higher oil prices and inflation risks would undermine the recovery.
Follow Sana's news on Telegram https://t.me/SyrianArabNewsAgency