GENEVA—Global airlines are predicting their first industry-wide profit since 2019 next year as air travel rebounds from COVID-19 restrictions, while a new war of words erupted with airports on Tuesday over rising air fares and ground charges.
Airlines lost tens of billions of dollars in 2020 and 2021 due to the pandemic, but air travel has partially recovered and some airports have struggled to cope.
The International Air Transport Association (IATA) now expects a net profit of $4.7 billion for the industry next year, with more than 4 billion passengers set to fly. It had previously said only that profits were “within reach” in 2023.
For 2022, IATA narrowed its forecast for industry-wide losses to $6.9 billion from $9.7 billion….