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

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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...