ISTANBUL, June 5 (Reuters) - Global airlines more than doubled their 2023 industry profit forecast to $9.8 billion from $4.7 billion on Monday cheered by strong travel demand as the sector recovers from the COVID-19 pandemic.
"The pandemic years are behind us and borders are open as normal," Director General Willie Walsh told the annual meeting of the International Air Transport Association (IATA).
Global airlines have in recent months reported strong results as they prepare for a busy summer season, with travel demand showing no sign of flagging despite peaking inflation.
Revenue levels for 2023 are also inching closer to pre-pandemic levels, climbing to an expected $803 billion versus $838 billion in 2019.
And they will continue to do so through this year," Walsh told Reuters in an interview separately.
Persons:
Willie Walsh, Walsh, " Walsh, Joanna Plucinska, Aditi Shah, Tim Hepher, Jason Neely
Organizations:
Global, International Air Transport Association, . Global, Reuters, Airlines, Schiphol Airport, Schiphol, Thomson
Locations:
ISTANBUL, Netherlands, South Africa