Latin American airlines are expected to record a net loss of about $1.4 billion in 2023, as per the latest figures revealed by International Air Transport Association (IATA). Speaking at the IATA’s Wings of Change, Peter Cerdá, regional vice president for the Americas, IATA said: “The carriers in the region are expected to lose about $1.4 billion in 2023 or about $4.92 per passenger. Those numbers starkly contrast with IATA’s expected net revenue of $9.8 billion globally.” The North American carriers will have the best financial performance in 2023. IATA expects them to record a net profit of $11.5 billion.

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