The International Air Transport Association (IATA) said it now expects a net profit of $4.7 billion for the industry next year, with more than 4 billion passengers set to fly.
Airlines lost tens of billions of dollars in 2020 and 2021 due to the pandemic but air travel has partially recovered and some airports have struggled to cope.
But the former Aer Lingus and IAG boss warned that many airlines will continue to struggle next year, citing regulations, high costs, inconsistent government policies among the factors. If that does not happen, airlines' profitability would be affected. Another risk for the 2023 outlook is that some economies fall into recession, it said.
Air fares have already jumped this year as a result of higher prices for conventional fossil-based jet fuel. Environmental groups argue that air higher travel costs will help to rein in emissions by curbing growth in traffic. He dismissed as"nonsense" European Union moves to oblige airports to offer increasing supplies of SAF, which is not widely available.In July, the European Parliament backed rules on aviation fuel that set binding targets for the replacement of kerosene with less polluting sources, while extending the definition of what a green fuel could be.
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