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.
More than half of the country has not got a respite from the severe cold and dense fog. There was
PAK vs NZ 1s T20: Haris Rauf stunned Kiwi batsmen, Pakistan won the first T20 match by 88 runs
PAK vs NZ 1st T20. The first match of the five-match T20 series between Pakistan and New Zealand
Whether the announcement of Vladimir Putin's economic mobilization will affect Ukraine and Wester
Ever since Hera Pheri franchise's Babu Bhaiya i.e. Paresh Rawal has announced to leave the upcomi
During a rally before taking the oath of office, Donald Trump clearly said that he would not allo
Thai Navy searching for 33 missing marines after warship sinks, rescue operation continues
A warship of the Thai Navy has sunk in Thailand. Thailand's military on Monday deployed warships
Hundreds of Bangladeshi nationals gathered at the international border with India in West Bengal'
Siraj again clashed with the umpire: Match referee forgot to toss a coin
India defeated South Africa by 7 wickets in the second ODI played in Ranchi on Sunday. With this
People Leave Indian Citizenship: For the last few years, the trend of leaving citizenship has inc
Faults have been found in the electricity meter installed by SP MP Ziaur Rahman Bark and former M
