Airlines on course for near-record revenues of $803bn in 2023, says Iata

Airlines worldwide are on course for near-record revenues of more than $800bn (£645bn) this year, according to the trade body Iata, which doubled its industry profit forecast for 2023 to almost $10bn. Iata's director general, Willie Walsh, denied that fares were excessive despite the upgrade in the financial outlook. He said profit margins remained "wafer thin" and blamed airline suppliers for increasing costs. After industry losses of $183bn in the pandemic years, Walsh said airlines were "en route to a profitable, safe, efficient and sustainable future". People were flying despite economic uncertainties, he said, with the latest data showing passenger…