THE INTERNATIONAL AIR Transport Association (IATA) forecasts that the global airline industry will post a “razor-thin” net profit of $4.7 billion this year, returning to profitability after three years of losses during the coronavirus crisis. The profits will be modest: a net profit margin of just 0.6 percent on revenues of $779 billion and a fraction of the $26.4 billion profit the industry made in 2019. However, IATA's chief, Willie Walsh, says the forecasts represent a “step in the right direction” for an industry shaken by pandemic travel restrictions and successive staff shortages.
Worldwide, airlines have hemorrhaged billions of dollars since the coronavirus began closing borders, stifling consumer demand and ravaging economies. In 2020, with strict lockdowns imposed worldwide and planes grounded, carriers lost a collective $137.7 billion. The following year, although air traffic had resumed in many locations, airlines were hobbled by staff shortages and supply chain disruptions, enduring losses of up to $42 billion.
Esta historia es de la edición March 2023 de Business Traveler US.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 2023 de Business Traveler US.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Around the World in 80 Ways - Oneworld releases an Al-powered travel service for extended international voyages
A new generative artificial intelligence (AI) travel agent will leverage Google Cloud to help ambitious travelers easily book international trips with Oneworld member airlines. The alliance’s Round the World fares allow passengers to book up to 16 flights between at least three continents on a globe-spanning trip that lands back home up to a year later.
Fast Company - In a partnership with SpaceX, United is rolling out revolutionary high-speed Wi-Fi on all its flights
United has become the first major U.S. airline to announce a groundbreaking partnership with SpaceX to equip more than 1,000 aircraft with Starlink WiFi. Passengers will soon enjoy high-speed, lowlatency Internet service, enabling seamless gate-to-gate connectivity across domestic and international flights.
Special Sauce - Celebrated chef and entrepreneur Giada De Laurentiis shares her Italian heritage through her television shows, restaurants, cruise partnerships and an exclusive line of curated products
Celebrated chef and entrepreneur Giada De Laurentiis shares her Italian heritage through her television shows, restaurants, cruise partnerships and an exclusive line of curated products
The Censoring of Social Media? - Why legislatures continually try to regulate freedom of expression, and what the courts are doing about it
There seems to be bipartisan agreement that everything from teen suicide rates to poor mental health and more is due to social media. The obvious solution, they believe, is to impose government oversight on how such services can be provided. Congress is considering sweeping social media legislation and a number of states have already enacted such laws.
Golden Age
Porsche celebrates a half-century of its 911 Turbo with a limited-editon model
The Season's Best Underseat Carry-Ons
Bags that make the most of your space while providing carefree convenience
Crystal Palace
Baccarat offers sparkling cocktails in Midtown Manhattan
East Meets West
Chef Cyril Lignac fuses French and Japanese cuisine in the heart of London
Bigger.Better.
American Express relocated and improved its Centurion Lounge at Seattle-Tacoma International Airport to address issues with overcrowding and enhance the customer experience
High Style
A nonstop journey from Singapore to Los Angeles in Business Class
