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At the General Assembly held in Istanbul on Monday, IATA also announced that the industry is likely to have a surplus of US$ 9.8 billion this year due to high ticket prices. The association had previously assumed $4.7 billion in its previous profit forecast for December.
Airlines will also stay far away from profit levels compared to the previous year due to high kerosene prices: According to previous information, the industry made a profit of 26.4 billion dollars in 2019 with better used aircraft.
According to IATA estimates, traffic volume will reach 4.35 billion passengers this year. That would be just four percent lower than in 2019. “All things considered, we think this will be a good year for aviation,” said IATA boss Willie Walsh.
The former chairman of aviation group IAG (British Airways, Iberia) pointed out that, despite rising profit expectations, the earnings position of airlines is still very weak for him, and they must achieve sales of $803 billion. to earn their profits. Only $2.25 left per passenger. This is not sustainable. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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