Global airlines are predicting their first industry-wide profit since 2019 next year as air travel rebounds from COVID-19 restrictions, while a new war of words erupted with airports on Tuesday over rising air fares and ground charges.
Airlines lost tens of billions of dollars in 2020 and 2021 due to the pandemic, but air travel has partially recovered and some airports have struggled to cope.
"It's very important that everybody understands just how fragile the recovery is. Yes we are recovering; yes the momentum is improving; yes, we expect it to continue to improve in 2023," Walsh told an annual media briefing. "Consumers are tolerating massive increases in air fares by airlines, which reflects both inflationary pressures and the fact that they tightly control the capacity they put in the market," Olivier Jankovec, director general of airport industry association ACI Europe, told Reuters.
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