IATA: airlines out of the red by 2023

08-12-22

In 2023, airlines are expected to post a small net profit of $4.7 billion, a net profit margin of 0.6%. This is the first gain since 2019, when industry net profit was $26.4 billion (3.1% net profit margin). 

In 2022, airline net losses are expected to be $6.9 billion (an improvement on the $9.7 billion loss for 2022 in IATA's June outlook). This is significantly better than the losses of $42.0 billion and $137.7 billion that were realised in 2021 and 2020 respectively. 

Resilience has been the hallmark of airlines in the COVID-19 crisis. As we look ahead to 2023, financial recovery will take shape with a first industry gain since 2019. That is a great achievement considering the scale of the financial and economic damage caused by the pandemic restrictions imposed by the government.