Willie Walsh, director-general of the International Air Transport Association (IATA), said on Monday that global airline losses are expected to drop by $9.7 billion this year from $52 billion in 2021. Along with this, the report said that the industry should also make profits in 2023.
Significantly, the IATA represents 290 airlines, which comprise 83 percent of global air traffic. Globally, the outlook for airlines looks positive, but the business environment remains challenging, Walsh said in his inaugural address at the IATA's 78th Annual General Meeting here. Listing all such challenges, he said the Organization for Economic Co-operation and Development (OECD), a grouping of 38 developed countries, has inflation above nine percent in April.
Walsh said that our outlook expects (global) GDP to grow 3.4 percent this year. Although it is not above forecasts, it is not bad either. In his address, he quoted the World Bank as saying that it is expected that energy prices will increase by 50 percent this year compared to 2021. At the same time, he referred to the Russo-Ukraine war, saying that Russia's attack on Ukraine has destabilized globalization, which is a threat to the world's food supply.
Walls further said that repairing the battered balance sheets of airlines with US$650 billion in debt would be a major challenge. But both the desire to travel and the need to carry goods are solid. Our industry is now looking tough but agile. Our new analysis shows a deficit of close to $42 billion in 2021. That is, this year the global deficit will be reduced to $ 9.7 billion.
Air India to buy more than 200 new aircraft
Air India is preparing to buy more than 200 new aircraft. Air India is looking to buy aircraft with more than 70 percent narrow bodies. According to aviation industry sources on the sidelines of the International Air Transport Association's 78th Annual General Meeting, the company has selected Airbus's A350 for the wide-body aircraft. Apart from this, it is in talks with Airbus and Boeing for narrow-body aircraft.
UNGA: India lashed out at Pakistan in the United Nations, saying- Pakistan fearlessly gives shelter to terrorists
India has once again lambasted Pakistan on the global stage. In the United Nations General Assembly, India said that Pakistan gives shelter to terrorists and provides a haven. India said that Pakistan
Parliament Security Breach: 'Someone else is the mastermind', many important revelations made in the case of a breach in the security of Parliament
On Wednesday, a case of some people entering the Parliament came to light. The police are investigating this matter thoroughly. Police sessions say that the main conspirator of the Parliament security
Atul Parchure: From Arjun Kapoor to Renuka Shahane, these stars paid tribute to Atul Parchure on his demise
Actor Atul Parchure died on 14 October at the age of 57. Atul has been battling cancer for the last few years. Atul's last rites will be held today i.e. on 15 October at 11 am at Shivaji Park. Many
Agniveer Recruitment: Army recruitment rally will be held in Bihar, youth are showing enthusiasm to become 'Agniveer'
Agniveer Recruitment: The youth of Purnea district in Bihar are preparing for recruitment as 'Agniveer' in the rally to be held in Katihar later this month under the 'Agneepath' scheme. There were
T20 World Cup: India became the second country to make this record after England; also won the eighth consecutive match in T20
The winning streak of the Indian team continues in the T20 World Cup 2024. Team India defeated Afghanistan by 47 runs on Thursday. This was Team India's fourth win in this edition. On Thursday,
Salaar: 'Salaar' shows will run from 1 am to 4 am, Telangana government gives permission
Actor Prabhas's much talked about film 'Salaar' is very close to release. Booking is going on in full swing. Meanwhile, good news has come for the actor's fans. The shows of 'Salaar' will also be
Dunki: Shahrukh unveiled the story of the film even before its release, did a mega promotion of Dunki in Dubai
After creating a stir at the box office with 'Pathan' and 'Jawaan', Shahrukh Khan is ready to score a hat-trick this year with his film Dunki. 'Dunki' will hit the theaters on December 21, worldwide
Sudden lockdown in China's Disneyland, thousands of visitors trapped inside; watch video
The situation in China is bad due to Corona. The strict Kovid rules of the Jinping government have made life difficult for the people. Disneyland in Shanghai was suddenly closed due to China's
UNHRC: India lashed out at Pakistan in the Human Rights Council, raised the issue of the forced disappearance of people in Balochistan
India has retaliated to the statement made by Pakistan in the United Nations Human Rights Council (UNHRC). Using the 'right to reply', India said that the representative of Pakistan has once again
Effect of noise on studies: More traffic weakens children's memory, and brain development can be stunted by 23.5%
Children's memory is weak due to high traffic on the school route while going to school. Researchers from the Barcelona Institute for Global Health in Spain researched children studying in 38 schools
