
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.
Donald Trump: Trump wants ownership rights over Gaza, said- if needed we will send our army too
US President Donald Trump has given a big statement saying that he wants America to take ownershi
On Monday, February 10, the first citizen of the country, President Draupadi Murmu will set foot
The weather has taken a U-turn in North India. It is getting cold in many states including Delhi,
These days Telugu cinema superstar Prabhas is in a discussion about his upcoming film 'Project K'
The 17th season of IPL, one of the world's oldest franchise-based T20 leagues, is being played. C
Karnataka Dengue Cases Karnataka is witnessing a steady increase in dengue cases. Due to the rapi
Krishna will be cremated with state honours: Mahesh Babu wept bitterly on father's last farewell
Krishna, a superstar of Telugu cinema, passed away on the morning of 15 November. At the age of 7
An encounter took place between the police and the drug mafia in Jalisco State, Mexico. In this 1
Leader of Opposition Yashpal Arya said that the Silkyara tunnel disaster has brought out with com
Pakistan Tehreek-e-Insaf (PTI), the party of former Pakistan Prime Minister Imran Khan, has been