I’International Air Transport Association (IATA) said it expects airlines to release a worldwide profit of $9.8 billion this year, after cumulative losses of 183 billion in 2020-2022.
Having lost almost two-thirds of its passengers in 2020, the global airline is therefore going up the slope. However, the profit in 2022 was only $2.25 per passengerunderlined the Director General of IATA Willie Walsh, judging this margin “not sustainable in the long termand taking the opportunity to scratch the airports. He felt that “the aviation value chain“remained”unbalancedciting in support the cumulative profits of 6.4 billion euros ($7 billion) made in 2022 by European airports, according to their association ACI-Europe.
For comparison, European airlines made $4.1 billion in profits, according to IATA estimates. “Does economic regulation of airports serve the public interest when monopolies (airports) can apparently outperform the competitive sector (airlines)”? wondered Willie Walsh, inviting governments to “at least take a look at the file“.
According to ACI Europe, the crisis has resulted in 20 billion euros in cumulative losses for airports on the Old Continent in 2020-2021, and 50 billion in lost earnings. The debt of these facilities has ballooned by 47 billion in two years.