(Istanbul) Airlines expect to carry 4.35 billion passengers worldwide this year, not far from the record of 4.54 billion in 2019, before the pandemic, their main international association, IATA, announced on Monday. , meeting in general assembly in Istanbul.
This vigorous recovery in traffic, thanks in particular to the reopening of China, will result in a return to profits for carriers. They are expected to make $9.8 billion in net profit this year – double what IATA had previously expected, which has also halved its loss estimates for 2022 to $3.6 billion. .
The overall turnover of air carriers should reach 803 billion dollars, within reach of 838 billion in 2019, according to IATA, which therefore revised its previous projections upwards in December (779 billion).
While industry operating margins will remain very low this year, at 1.2% according to IATA, these profits, the first since the start of the pandemic, will mark a dramatic improvement from the $42 billion lost in 2021 and at the abyss of 2020 (137.7 billion).
Not all geographies will return to profit this year, however, IATA warned. North American, European and Middle Eastern carriers are expected to be largely in the green, with cumulative $11.5, $5.1 and $2 billion respectively.
But companies in the Asia-Pacific region (-6.9 billion dollars), Latin America (-1.4 billion) and Africa (-500 million) will remain in deficit this year, the association warned.
“Airline financial performance is better than expected. Stronger profitability is supported by several positive developments: China lifted COVID-19 restrictions earlier than expected. Freight revenues remain higher than before the pandemic, although volumes do not. And the costs are starting to come down. Kerosene prices, still high, contracted during the first half of the year,” said Willie Walsh, IATA Director General.
