IATA AGM hears airline losses reducing as recovery accelerates

The International Air Transport Association (IATA) latest airline industry outlook for 2022 has been upgraded based on the rapid pace of recovery from the COVID-19 crisis. New IATA figures predict that industry-wide loss will reduce to $9.7bn – an improvement from the October 2021 forecast of a loss of $11.6bn for the year. The renewed forecast expects a net loss margin of -1.2%, which is a huge improvement from losses of $137.7bn (-36.0% net margin) in 2020 and $42.1bn (-8.3% net margin) in 2021. IATA also expects industry-wide profitability for 2023 although North America is already expected to deliver an