Losses of air carriers, as well as the volume of cargo transportation will be cut

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.