IATA: The loss of airlines will reduce globally, estimated to be $9.7 billion less than last year


Posted on 21st Jun 2022 04:14 pm by rohit kumar

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.

 

Also Read: GST Council Meeting: GST Council meeting on 28-29 June in Srinagar, a big survey on the unemployment rate

1 Like 0 Dislike
Previous news Next news
Other news

SRH vs LSG: You won't have to break the bank to enjoy the Hyderabad vs Lucknow match! This way you can watch live telecasts and streaming for free

The excitement of IPL 2024 has reached its peak. The battle for the playoffs has become even more

Due to drought, China made artificial rain: 15 cities increased the risk of flood-landslide, and 1 lakh people were sent to safer places

China is experiencing its worst drought in 61 years. A heat warning alert has been issued in 165

Coronavirus Updates: Covid cases increased for the second consecutive day in the country, with 2786 new cases in 24 hours; active patients increased

Corona cases have increased for the second consecutive day in the country. The Health Ministry sa

'Encroachment will not be tolerated under any circumstances, strict action should be taken against those who do this', CM Yogi gave instructions to the officials

Chief Minister Yogi Adityanath held 'Janta Darshan' at his official residence on Thursday. During

US's clarification on the package of F-16 fighter jets to Pakistan, Jaishankar said - who are you fooling

External Affairs Minister S. Jaishankar has questioned the US sanctioning $450 million (Rs 3,651

Piracy of Netflix-Amazon movies and web series: Free within a few hours of release, but your data is at risk of being stolen

More than 12 apps on Google like Pics how Momix and Popcorn Flix are stealing original content fr

Aurangabad Accident: Explosion in the cylinder while making offerings for Chhath Puja in Aurangabad, Bihar, 34 injured

In the Aurangabad district of Bihar, an accident happened while making Prasad for Chhath Puja. Ab

Karwa Chauth 2023: The coincidence of Shiva Yoga with Sarvath Siddha Yoga is making this Karwa Chauth very auspicious

Karwa Chauth is the festival of wishing for unbroken good fortune. This time the worship of the m

In the Aravalli case, the Supreme Court stayed its own order and sought clarification from the government.

On Monday, the Supreme Court, while hearing the Aravalli case, stayed its own order from last mon

Ranbir Kapoor's Animal Park will be even more dangerous; a complete update has arrived regarding everything from the shooting to the storyline.

Ranbir Kapoor's film Animal, released in 2023, created a sensation at the box office. Shedding hi

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash