The international organization IATA is doubling its profit forecast for the airline industry this year. Higher ticket prices are behind the unexpectedly rapid improvement in results.

The industry's total net profit is now estimated at $9.8 billion, compared with $4.7 billion in the previous forecast, from December.

Last year, the global aviation industry made a net loss of $3.6 billion and the historic record from 2019 of $26.4 billion in net profit is still some way off.

The number of passengers is expected to reach 4.35 billion, which is approximately 96 percent of the 2019 level.

Aviation industry revenue is expected to reach $803 billion in 2023, just $35 billion below the historic record from before the pandemic.

Source: TT