European airlines to follow North Americans back to profitability in 2023, IATA predicts

The International Air Transport Association (IATA) said Europe’s carriers will follow North America’s airlines back to profitability next year in a piecemeal global recovery from pandemic-related travel restrictions. “All regions’ financial performance continues to improve since the depth of the pandemic losses seen in 2020. North America is the only region to return to profitability in 2022, based on our estimates. Two regions will join ranks with North America in this respect in 2023: Europe and the Middle East, while Latin America, Africa, and Asia-Pacific will remain in the red,” IATA said. With North American airlines “benefiting from fewer and