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IATA: airlines will continue to make losses in Latin America in both 2023 and 2024

IATA: airlines will continue to make losses in Latin America in both 2023 and 2024

The traffic of passengers and cargo will continue to be in the red in the Latin American market both in 2023, with losses of US$ 600 million, and in 2024, when they will amount to US$ 400 million, according to forecasts published today by the International Air Transport Association (IATA).

Losses will, however, continue to decline compared to the worst moments of the pandemic (they were in the region of US$7 billion in 2021 and US$3.9 billion in 2022), according to the annual report presented today at the headquarters of IATA at Geneva Airport.

“Although some of the region’s markets show strength, such as Mexico, others face economic and social instability that affects airline figures,” analyzed the main world airline organization.

According to the report, Asia-Pacific, Latin America and Africa will be, as in 2022, the only regions in losses in 2023, and the last two will be the only ones still in the red in 2024.

In contrast, IATA expects the North American air transport market to achieve US$14.3 billion in profits in 2023 (and US$14.4 billion in 2024), while in Europe they would amount to US$7.7 billion this year and US$7.9 billion the next.

Another region with benefits would be the Middle East, with profits of US$ 2.6 billion in 2023 and US$ 3.1 billion in the next year, always according to IATA forecasts.

Source: Gestion

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