Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2022 05 09T151356Z 2 LYNXNPEI480HS RTROPTP 4 AIRLINES IATA - Business Express
FILE PHOTO: Willie Walsh, Director General of the International Air Transport Association, takes part in a panel discussion at the International Air Transport Association's (IATA) Annual General Meeting in Boston, Massachusetts, U.S., October 5, 2021. REUTERS/Brian Snyder

Airline body IATA sees industry recovery now in 2023


RIYADH (Reuters) -The head of the world’s biggest airline trade body said on Monday passenger traffic was recovering faster than expected and that, on average, the industry could now see those figures return to pre-pandemic levels in 2023, a year earlier than expected.

The easing of COVID-19 related restrictions around the world has released demand pent up over the last two years when governments shut their borders, leading to a jump in flights.

International Air Transport Association (IATA) Director General Willie Walsh told Reuters the near-term outlook remained positive even as the aviation industry faces new headwinds such as high oil prices, inflation and workforce shortages.

“We’re seeing very strong bookings. Certainly all the airline CEOs that I’m talking to are seeing not just good demand for near-end travel but they continue to see demand as they looked through the year,” he said at a conference in Riyadh.

Many regions are expected to perform better this year, though Walsh cautioned that he did not expect a quick recovery in Asia-Pacific, citing restrictions in China as it pursues a zero-COVID policy.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

But he said that overall, given the current accelerated pick up in passenger traffic, the industry could reach pre-pandemic passenger figures next year, helped by a strong summer in 2023.

“I don’t think we should be distracted from the fact that we are seeing a strong recovery and I think that recovery will gather momentum as we go through the rest of this year into 2023.”

Wizz Air Chief Executive Jozsef Varadi separately told Reuters he was fairly confident the European low cost airline would see a good summer of bookings, though he said he was concerned about supply chain disruptions like airport staffing shortages.

“I think you will have a lot of customers but you will have a lot of supply chain issues and you will have a lot of cost issues. So it’s going to be a very interesting kind of mix going through the summer.”

(Reporting by Alexander Cornwell; Wriitng by Lina Najem, Editing by Louise Heavens and Emelia Sithole-Matarise)

Recent Post: