Global Airline Industry expected to post loss of $ 6.9 billion in 2022

7 Dec 2022 , 07:16 AM

The global airline industry is expected to register a decreased loss of USD 6.9 billion in 2022, owing to higher passenger yields and cost-cutting by carriers in the face of rising fuel prices.

The International Air Transport Association (IATA) estimated the industry loss at USD 9.7 billion in June. It predicted a deficit of $11.6 billion for this year in October 2021.

IATA stated that a meager net profit of USD 4.7 billion is anticipated from the global airline industry in 2023.

The airline industry is on the mend after being severely impacted by the coronavirus pandemic.

In 2022, the estimated airline net loss is USD 6.9 billion. According to the report, this is a significant improvement over the losses of USD 42 billion and USD 137.7 billion in 2021 and 2020, respectively.