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.
South cinema superstar Thalapathy Vijay's film 'Leo' made a good collection at the ticket window.
Culture and Tourism Minister G. Kishan Reddy said that India is planning to bring National Touris
Hundreds of employees resigned from Twitter on Thursday. The resignations came after a decree fro
These are the 5 most expensive phones launched in 2022, the price of the phone is in lakhs!
Smartphones are the fastest-growing segment of electronics. Mobile companies launch new and upgra
After a clean sweep in the T20 series against Ireland, Team India is now in front of England's Te
BJP has claimed that it will win at least 50 seats in Delhi. After the review meeting held yester
Pakistan's Interior Minister Rana Sanaullah said on Friday that the name of the country's next ar
Famous Bollywood actor Salman Khan has been receiving death threats for a long time. The actor on
Gadar 2 Director Anil Sharma Talks About Seema Haider- Sachin Meena: Sunny Deol and Ameesha Patel
Ram Navami is being celebrated across the country today. The festival of Ram Navami is being cele
