Airlines hope to return to profitability in 2023

A return to profitability is ” at hand “ in 2023 for airlines, which expect to find, by 2022, 83% of their passengers before the pandemic caused by SARS-CoV-2, they announced on Monday June 20.

The sector is still expected to lose a cumulative $9.7 billion this year, but it will be a “huge improvement” after the 137.7 billion lost in 2020 and the 42.1 billion in 2021, pointed out the International Air Transport Association (IATA)which brings together the vast majority of airlines worldwide and holds its annual general meeting in Doha.

“Sector-level profitability in 2023 looks within reach, as [les compagnies] in North America should generate a profit of 8.8 billion by 2022”IATA said in a statement.

Read also: Article reserved for our subscribers Air transport: “The incredible just-in-time machine that has made it possible to democratize the plane is cracking on all sides”

EasyJet is reducing its flight capacity for this summer

In addition, “strong latent demand, the lifting of movement restrictions in most markets, low unemployment in most countries and personal savings are fueling a recovery, which will see passenger numbers reach 83% of the level before the pandemic » this year, assured the organization.

The health crisis, the effects of which were felt from March 2020, strongly affected the airline sector, which lost 60% of its customers that year. In 2021, attendance had only risen to 50% of the 4.5 billion passengers welcomed in 2019.

For its part, the British low-cost company easyJet announced on Monday the reduction of its transport capacity this summer, due to an acute lack of staff, in order to avoid chaos in airports as in recent weeks. “There will be a cost of impact” of these measures, warns easyJet without providing further details, even if the company affirms in a press release that the medium-term outlook remains “attractive”.

Read also: Article reserved for our subscribers Low-cost airlines fill their planes again, but the social climate is deteriorating

The World with AFP

source site-30