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21-Jun-2022 1:22 PM

IATA: North America to remain the strongest performing region in 2022

IATA released (20-Jun-2022) an updated outlook for the airline industry in 2022, with financial performance in all regions expected to improve. Details include: 

  • North America: Expected to remain the strongest performing region and the only region to return to profitability in 2022. Supported by the large US domestic market and the reopening of international markets, including the North Atlantic, net profit is forecast to be USD8.8 billion in 2022. RPKs are expected to reach 95% of pre-pandemic levels and capacity will reach 99.5%;
  • Europe: The Russia-Ukraine war will continue to disrupt travel patterns within Europe and between Europe and Asia Pacific. However, the war is not expected to derail travel recovery, with the region edging closer to profitability in 2022. A net loss of USD3.9 billion is forecast and RPKs are expected to reach 82.7% of pre-pandemic levels with capacity to reach 90%;
  • Asia Pacific: Travel demand is expected to increase quickly and net losses in 2022 are forecast to decline to USD8.9 billion. RPKs are expected to reach 73.7% of pre-pandemic levels and capacity will reach 81.5%;
  • Latin America: The financial outlook for some airlines remains fragile and the region is expected to record a net loss of USD3.2 billion in 2022. RPKs are expected to reach 94.2% of pre-pandemic levels and capacity will reach 93.2%;
  • Middle East: Net losses are expected to narrow to USD1.9 billion in 2022 from USD4.7 billion in 2021. RPKs are expected to reach 79.1% of pre-pandemic levels and capacity will reach 80.5%;
  • Africa: Lower vaccination rates have dampened the region's air travel recovery. However, some catching up is likely in 2022, which will contribute to an improved financial performance. Net losses are forecast to be USD700 million in 2022. RPKs are expected to reach 72% of pre-pandemic levels and capacity will reach 75.2%. [more - original PR]

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