Aviation industry likely to recover in 2023: IATA

The aviation industry is expected to return to the pre-pandemic levels in 2023, a year earlier than previous forecasts, Reuters reported citing Willie Walsh, Director General of the International Air Transport Association (IATA).

Overall passenger traffic is growing faster than expected despite the war in Ukraine and continued restrictions in the Chinese aviation market, Walsh told Reuters.

In a conference held in Riyadh, IATA head noted that the market is witnessing very strong bookings, pointing out that high oil prices and travel disruptions caused by labor shortages have not prevented travelers so far, although oil prices might have increased ticket prices by 10%.

Overall, Walsh sees that the industry is moving towards a recovery in passenger traffic to pre- pandemic levels in 2023, supported by a strong summer expected that year.

On the other hand, he alerted that passenger traffic in some seasons next year may remain lower than pre-pandemic levels, as the Asia-Pacific region continues to lag behind in recovery due to continued Covid-19 restrictions in China's major aviation market.