Travelers check in at the United Airlines desk in the domestic terminal at San Francisco International Airport in San Francisco, on May 26, 2023. (PHOTO / AP)
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 Türkiye's Istanbul on Monday.
IATA Director-General Willie Walsh said during the IATA's 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."
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Latest data show passenger traffic at over 90 percent of 2019 levels. Airports are busier, hotel occupancy is rising, local economies are reviving, and the airline industry has moved into profitability.
Willie Walsh, IATA Director-General
"Latest data show passenger traffic at over 90 percent 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 labor is in short supply in some areas," he added.
READ MORE: Global airline traffic rebounds to over half of pre-pandemic levels
Various topics are being organized in separate panels at the summit, which will last from June 4-6. Around 500 people from different countries took part in the summit.