Istanbul: Airlines will make a profit this year with an increase in passenger traffic as part of post-pandemic recovery amid challenges, according to the International Air Transport Association (IATA).
World Air Transport Summit, the world’s largest gathering of airline leaders, officially started in Istanbul on Monday.
IATA Director General Willie Walsh said during the annual general meeting in Istanbul that “the pandemic years are behind us, and borders are open as normal. Despite economic uncertainties, people are flying to reconnect, explore, and do business”.
“Latest data show passenger traffic at over 90 per cent of 2019 levels. Airports are busier, hotel occupancy is rising, local economies are reviving, and the airline industry has moved into profitability,” he added.
According to Walsh, the removal of Covid-19 restrictions is one of the developments boosting the industry.
Meanwhile, the industry is not free of pressures and challenges remain, he stressed.
“Inflation continues, cost pressure is acute, and labour is in short supply in some areas,” he added.
Various topics are being organiaed in separate panels at the summit, which will conclude on Tuesday.
Around 500 people from different countries took part in the summit.
