According to the calculations of the International Air Transport Association (IATA), revenue from passenger traffic, according to the Association’s forecasts, will reach $438 billion in 2022, and will exceed $520 billion in 2023. For reference, in 2021 this figure was $239 billion, in 2020 it was $189 billion.
In 2022, airline net losses will fall down to $6.9 billion from $42 billion in 2021. In 2023, airlines are expected to post a small net profit of $4.7 billion – the first profit since 2019 when industry net profits were $26.4 billion.
At the same time, according to IATA estimates, the volume of the global air cargo market will decrease by 8% this year and be reduced by another 4% in 2023.
Air carriers’ revenue from cargo operations will fall next year by almost a quarter, down to $149.4 billion. The cargo yields this year will exceed the level of 2021 by 7.2%, and will decrease by 23% next year.