Thursday, July 25, 2024
26 C
Brunei Town

Global airlines to narrow losses in 2022 as outlook improves

THE STAR – A sharp bounce-back in air travel from the pandemic will allow global airlines to narrow losses this year and possibly claw their way back to profit in 2023, an industry body said as it upgraded widely watched forecasts.

Global airlines are now expected to post a USD9.7 billion loss in 2022, in a sharp improvement from a revised USD42.1 billion loss in 2021, the International Air Transport Association (IATA) said.

The 2022 forecast is nearly USD2 billion better than an earlier expectation of a USD11.6-billion loss.

More details on Tuesday’s Borneo Bulletin