Global airline industry profitability surges in 2023, with net profits expected to reach $9.8 billion this year, more than double the $4.7 billion forecast in December, according to the International Air Transport Association’s (IATA) projection on June 5.
Stronger profitability is attributed to factors such as increased cargo revenues, the reopening of China, and lower jet fuel prices, according to IATA’s Director General Willie Walsh.
