IATA-国际航空运输协会2023年年度评论

IATA

AnnualReview2023

Contents

IATAAnnualReview2023

02

Contents

03

Members’list

31

Diversity&Inclusion

05

WillieWalsh,DirectorGeneral

33

PassengerExperience

08

MehmetT.Nane,Chair,BoardofGovernors

35

Cargo

11

MembersoftheBoardofGovernors

37

Safety

12

Economics

42

Security

21

Regulations

45

ModernAirlineRetailing

27

EnvironmentandSustainability

48

FinancialServices

InternationalAirTransportAssociation

AnnualReview2023

79thAnnualGeneralMeetingand

WorldAirTransportSummit,Istanbul,Türkiye

Members’list

IATAAnnualReview2023

Members’list

A

ABXAir

AegeanAirlines

AerLingus

AeroRepublica

Aeroflot

AerolineasArgentinasAeromexico

AfricaWorldAirlines

Afrijet

AirAlgerie

AirArabia

AirAstana

AirAustral

AirBaltic

AirBotswana

AirBurkina

AirCairo

AirCaledonie

AirCanada

AirCaraibes

AirChangan

AirChina

AirCorsica

AirDolomiti

AirEuropa

AirFrance

AirGuilin

AirIndia

AirKoryo

AirMacau

AirMadagascar

AirMalta

AirMauritius

AirMoldova

AirNewZealand

AirNiugini

AirNostrum

AirPeace

AirSerbia

AirSeychelles

AirTahiti

AirTahitiNui

AirTanzania

AirTransat

AirVanuatu

AirBridgeCargoAirlinesAircalin

Airlink

AlaskaAirlines

Albastar

AlliedAir

AlMasriaUniversalAirlines

AmapolaFlyg

Amelia(RegourdAviation)AmericanAirlines

ANA

APGAirlines

ArkiaIsraeliAirlines

AsianaAirlines

ASKY

ASLAirlinesBelgium

ASLAirlinesFrance

ASLAirlinesIreland

AtlanticAirways

AtlasAir

Austrian

Avianca

AviancaCostaRica

AviancaEcuador

AzerbaijanAirlines

AzoresAirlines

AzulBrazilianAirlines

B

BadrAirlines

Bahamasair

BambooAirways

BangkokAirways

BatikAir

BatikAirMalaysia

BelaviaBelarusian

Airlines

BimanBangladeshAirlinesBinterCanarias

BoABolivianade

Aviacion

BraathensRegional

Airways

BritishAirways

BrusselsAirlines

BulgariaAir

C

Camair-Co

CambodiaAngkorAir

CapitalAirlines

CargojetAirways

Cargolux

CaribbeanAirlines

Carpatair

CathayPacific

CebuPacific

CemAir

ChallengeAirlines(BE)ChallengeAirlines(IL)ChinaAirlines

ChinaCargoAirlinesChinaEastern

ChinaExpressAirlinesChinaPostalAirlines

ChinaSouthernAirlinesCityJet

Condor

CongoAirways

CopaAirlines

CorendonAirlines

CorsairInternationalCroatiaAirlines

Cubana

CyprusAirways

CzechAirlines

D

DeltaAirLines

DHLAir

DHLAviation

E

EasternAirlines

EasternAirways

EdelweissAir

Egyptair

ELAL

Emirates

EthiopianAirlines

EtihadAirways

EuroAtlanticAirways

EuropeanAirTransportEurowings

EVAAir

F

FedExExpress

FijiAirways

Finnair

FlyBaghdad

flydubai

FlyEgypt

Flynas

Flyone

FreebirdAirlines

FrenchBee

FuzhouAirlines

G

GarudaIndonesia

GeorgianAirways

GermanAirways

GlobalX

GOLLinhasAereas

GulfAir

GXAirlines

H

HahnAir

HainanAirlines

HawaiianAirlines

HebeiAirlines

HiFly

HongKongAirCargo

HongKongAirlines03

HongKongExpress

Airways

I

Iberia

IberojetAirlines

Icelandair

IndiGo

IranAir

IranAirtourAirline

IranAsemanAirlines

Israir

ITAAirways

J

JapanAirlines

JapanTransoceanAir

JazeeraAirways

JejuAir

JetBlue

JinAir

JordanAviation

JuneyaoAirlines

IATAAnnualReview2023

K

KamAir

KenyaAirways

KLM

KoreanAir

KunmingAirlines

KuwaitAirways

L

LaCompagnie

LAM

LaoAirlines

LATAMAirlinesBrasil

LATAMAirlinesColombiaLATAMAirlinesEcuadorLATAMAirlinesGroup

LATAMAirlinesParaguayLATAMAirlinesPeru

LATAMCargoBrasilLATAMCargoChileLoongAir

LOTPolishAirlines

LuckyAir

Lufthansa

LufthansaCargo

LufthansaCityLine

Luxair

M

MalaysiaAirlines

MandarinAirlines

MartinairCargo

MasAir

MauritaniaAirlines

International

MEA

MIATMongolianAirlinesMNGAirlines

MyanmarAirways

International

MyanmarNational

Airlines

N

NationalAirlines

Neos

NesmaAirlines

NileAir

NipponCargoAirlinesNordStar

NordwindAirlines

Nouvelair

O

OkayAirways

OlympicAir

OmanAir

OverlandAirways

P

PakistanInternationalAirlines

Paranair

PegasFly

PegasusAirlines

PGAPortugaliaAirlines

PhilippineAirlines

PolarAirCargo

PosteAirCargo

PrecisionAir

PrivilegeStyle

Q

Qantas

QatarAirways

QazaqAir

R

RavnAlaska

RossiyaAirlines

RoyalAirMaroc

RoyalBrunei

RoyalJordanian

RuiliAirlines

RusLine

RwandAir

S

S7Airlines

Safair

SAS

SATAAirAcores

SaudiArabianAirlinesSCATAirlines

Scoot

SFAirlines

ShandongAirlines

ShanghaiAirlines

ShenzhenAirlines

SichuanAirlines

SilkWayWestAirlinesSingaporeAirlines

SKYAirline

Smartavia

Smartwings

SolomonAirlines

SomonAir

SouthAfricanAirwaysSpiceJet

SriLankanAirlines

SunExpress

SuparnaAirlines

SWISS

Syrianair

T

TAAGAngolaAirlines

TACA

TAGAirlines

TAPAirPortugal

TAROM

TassiliAirlines

ThaiAirwaysInternational

ThaiLionAir

ThaiSmile

TianjinAirlines

TUIfly

Tunisair

TurkishAirlines

T’wayAir

U

UkraineInternational

Airlines

UNIAIR

UnitedAirlines

UPSAirlines

UralAirlines

UrumqiAir

UTair

UzbekistanAirways

V

Vietjet

VietnamAirlines

VirginAtlantic

VirginAustralia

Vistara

VoepassLinhasAereas

Volaris

Volotea

Vueling

W

WamosAir

WestAir

WestJet

WhiteAirways

Wideroe

World2Fly

Members’list

X

XiamenAirlines

Y

YTOCargoAirlines

04

WillieWalsh,DirectorGeneral

IATAAnnualReview2023

asanassociation

andanindustry

A

05

WILLIEWALSH,DIRECTORGENERAL

Growingstronger

stheCOVID-19pandemicreceded,theworld

Throughout2022,countriesprogressivelyeasedorendedtravelrestrictions,withChinabeingthelastmajormarket

todoso.Thedesireofpeopletoresumetravelhasbeen

trulyimpressive,withtraveler

numbersreboundingfurther

witheverynewborderopening.Globally,passengerdemandisnotexpectedtofullyreturntopre-COVID-19levelsuntil2024,butrapidprogresswasalreadyclearlyevidentas2022closed.

Aircargo’sperformancetookadifferentroute.Thesectorwasa

rapidlyreconnectedusingairtravel.

IATAAnnualReview2023

lifelineduringtheCOVID-19crisis.Atitspeakin2021,volumesand

revenuesweretrackingabove

pre-pandemiclevels.Economic

uncertaintiesandgovernment

measurestotameinflationhave

takentheirtoll.Withglobaltrade

falling,aircargovolumesslipped

below2019levels.Nonetheless,

revenueshavestayedstrong.

Aircargo’scontributiontoairline

revenuesin2022was17%oftotalrevenues,considerablyhigherthanthe12%in2019.

Afteracumulativelossofover$180billionoverthe2020-2022period,

theairlineindustryisontracktopostacollectiveprofitin2023.

Theindustryperformedwellonkeychallengesin2022.

Sustainability:TheadoptionoftheLong-TermAspirationalGoalatthe41stAssemblyoftheInternationalCivilAviationOrganization(ICAO),alignedgovernmentswiththe

industry’scommitmenttoachievenetzerocarbonemissionsby

2050.TheICAOAssemblyalso

resetthebaselinefortheCarbon

OffsettingandReductionSchemeforInternationalAviation(CORSIA)

to85%of2019emissions,withthepromisethatitwouldbethesolefinancialmeasureappliedtomanageemissionsfrom

internationaloperations.

Theindustrynowexpects

governmentstodeliverpolicesenablingaviation’senergy

transitionandupholdingthe

integrityofCORSIA.Todate,

however,wehavenotseen

governmentsprovidingsufficient

productionincentivestorampup

thesupplyofsustainableaviation

fuels(SAF).Andmanygovernments,includingseveralinEurope,are

contemplatingplacingadditionalfinancialburdensonaviationinthenameoftheenvironmentthatwillundermineCORISAandreduce

theindustry’sfinancialcapacitytoinvestinsustainabilityefforts.

Safety:Theindustry’ssafety

performancein2022exceeded

2021andthefive-yearaverage

(2018-2022)onseveralkey

metrics.Akeyindicatorofthis

performanceisthereduction

infatalityrisk,whichwas0.11in

2022,belowthefive-yearaverageof0.13.Importantly,theIATA

OperationalSafetyAudit(IOSA)

remainsavaluabletoolinthe

06

industry’ssafetyefforts.In2022,theperformanceofairlinesonthe

registry(measuredbytheaccidentrate)wasfourtimesbetterthan

carriersnotontheregistry.

Astheauditmarksits20thyear,

theprogramisbeingrenewed

witharisk-basedfocusthatwill

strengthenitseffectiveness.

DiversityandInclusion:IATA’s

flagship25by2025initiative

toimprovegenderbalancein

aviationhasgrowntoinclude176signatories.Themostremarkablegainreportedbythesignatories

“Todatewehavenotseen

governmentsproviding

sufficientproductionincentives

torampupthesupplyof

sustainableaviationfuels(SAF).”

IATAAnnualReview2023

increaseinuserchargesover

threeyears.Andtotopitoff,thegovernmentplanstoreduce

groundhandlingcompetition.

Theunder-appreciationofaviationis,ofcourse,notlimitedtothe

Netherlands.Wemustremainvigilantinalllocationstoensurethatairlinesaresupportedbypoliciesthatare

alignedwithglobalstandardsand

whichfacilitateourimportantroleinsocialandeconomicdevelopmenttheworldover.

Yourassociation

IATAremainsdedicatedto

supportingtheindustrywiththehigh-performingIATAFinancial

SettlementSystems.In2022theIFSSprocessed$363.3billion

excluding$18.5billioninrefunds.Itdidsowhilemaintainingextremely

highlevelsofefficiencyandsecurity.

IATA’sownfinancesarestrong,andmembershipisgrowing.Some304carriersspreadaroundtheworld

andcoveringeverybusinessmodelarecountedintheIATAfold.

Lastly,Iamproudtoleadatalented,

diverse,andglobalIATAteamthatisatyourservicewithreliable

products,effectiveadvocacyandcriticalglobalstandards.

WillieWalsh,

DirectorGeneral

“IATAremainsdedicatedto

supportingtheindustrywith

thehigh-performingIATA

FinancialSettlementSystems.”

isanincreaseintechnicalroles

performedbywomenfrom12%

in2021to18%in2022.Across

IATA’smembership,thenumberof

femaleCEOscontinuestogrow,

reaching28.Thesedevelopments

areabeaconofchangeforthe

entireindustry.

Advocacy:Ontheadvocacyfront,

thereiscontinuousefforttoremind

governmentsoftheimportanceof

policiesandregulationsthatenable

safe,efficientandsustainable

operations.Publicopinionpolling

revealsanunderstandingthat

aviationisacriticaleconomic

contributor(90%),thatitprovides

customerswithgoodvalue

formoney(77%),andisakey

contributortotheUN’sSustainable

DevelopmentGoals(82%).

Governmentactions,however,do

notreflectthis.TheNetherlands,

forexample,isaperfectstormof

value-destroyingregulatoryefforts.

IATAjoinedforceswithother

industrystakeholdersinalegal

actionthathastemporarilyhalted

thegovernment’splantoslash

SchipholAirport’scapacityby12%,

ostensiblytomanagenoiseimpact.

Thegovernmentalsotripledits

passengertaxto€26.43.And

despitesevereoperationalchaos

atSchipholin2022,thegovernment

isrewardingtheairportbyallowing

ittocontinueamassive37%

07

MehmetT.Nane,Chairofthe

IATABoardofGovernors

IATAAnnualReview2023

MEHMETT.NANE,CHAIROFTHEIATABOARDOFGOVERNORS

Policysupportfrom

governmentsisvital

ofyouryearasChairoftheIATABoardofGovernors?

Q

Whathasbeenthefocus

Ithasbeenanhonortoserve

asIATA’sChairoftheBoardof

Governors,especiallyatatime

whentheindustrywasemerging

fromitsworstdownturn.Aswe

havecontinuedtorebuildglobal

connectivityatgreatpace,wehave

beenaddressingsuchprioritiesas

sustainability,diversity,regulation,

operationalchallenges,and

infrastructurecosts.

08

MytenureasChairprimarilyfocused

onthreeareas.First,ourexternal

focuswasontheindustry’srecovery

afterthepandemic-induced

shutdown.Weemphasizedthe

significanceofreinstating

connectivitytogovernmentand

collaborationwithindustrypartners

tofacilitateasmoothrestartof

markets.Despiteencounteringsome

challengesatcertainairportsand

withAirNavigationServiceProviders

(ANSPs),theindustryasawhole

successfullyresumedoperations.

Second,IATAalsomadesignificant

progressinitscommitmentto

achievingnetzerocarbonemissions.

Weengagedinsubstantialbehind-

the-sceneseffortstooutlinedetailed

pathwaystowardreachingnetzero.

Additionally,wehelddiscussions

withgovernmentstoadvocate

forincreasedpolicysupportfor

sustainableaviationfuels(SAF).In

2022,theInternationalCivilAviation

Organization(ICAO)adopteda

Long-TermAspirationalGoal(LTAG)

for2050netzerocarbonemissions,

andthismadeaviationaunique

sectorwhereboththeindustryand

theregulatingstatesarecommitted

toonetarget.

“Diversityand

broadeningIATA’smembershiphavebeenotherstrongfocusesand2022wasaparticularly

importantyear.”

environmenttaxeshavenot

contributedtoSES,SAFusage,oremissionreductions.These

taxessimplymakeflyingmore

expensivewithoutenhancing

aviationefficiencyoraddressingenvironmentalconcerns.

Incontrast,airlineshaveshowncommitmentbyinvesting$17billioninforwardpurchaseSAFagreementsin2022alone.

Regardlessofprice,airlineshaveutilizedallavailableSAF.

Encouragingly,thedemandfrom

airlinespromptedasignificant

increaseinSAFproductionin2022withtheprospectofreaching

30billionlitersofSAFin2030.

Althoughthereisundeniable

momentum,thereisstillworktobedone,andgovernmentpolicieswillplayacrucialroleinshaping

thefutureofsustainableaviation.

FuelisthegreatestchallengeinourpathtowarddecarbonizingaviationasSAFremainlimitedinavailability

andsignificantlymoreexpensivethanconventionaljetfuel.

GovernmentsshouldassessthesignificanceoflocallyproducingSAF,offerincentivestoboost

production,ensureaffordability

andencourageadoptionforairlines.Theseactionswillbeincrementalinmovingtowardsournetzerotarget.

。Whatdoyouseeasthe

immediateandlonger-term

challengesfacingairlineleaders?

Aviationleadersfacemany

challenges.Intheshortterm,

wehaveavarietyofeconomic

challenges,especiallytheglobal

inflationarypressures.Geopoliticalcrisescontinuetoaffecttheworld,destabilizingglobalizationand

threateningglobalsupplychains.Theairlineindustryishaving

tofixbalancesheetscarrying

debtsof$650billion,requiring

strategicmeasurestostabilize

andstrengthenfinancialpositions.

Third,diversityandbroadening

IATA’smembershiphavebeenotherstrongfocusesand2022wasa

particularlyimportantyearaswe

achievedthemilestoneof50%of

IATAmembersjoiningthe25by2025voluntaryinitiative.Thiswilldrivea

morediverseandinclusiveaviation

industryparticularlyregardingfemalerepresentation.Wearewitnessing

realchange.FromahandfuloffemaleairlineCEOsjustafewyearsago,

therewere28amongIATAmemberairlinesasofMarch2023.

Internally,Ialsoworkedalongside

Willie,theBoard,andIATAsenior

managementtoensurethatIATA

effectivelyservesitsmembersanddeliversvalue.Weacknowledge

andappreciatethehardworkof

theentireIATAteam,whileatthe

sametime,seekingopportunitiestofosterinnovation,responsiveness,andastrongeradvocacyforthe

industrywelove.

appreciatedsufficientlyby

。Isthevalueofaviation

governments?Whatcanwedotogetbetterpoliciesforsupportingaviation’ssuccess?

Wedoseebroadsupportforthe

industryconsideringtheeconomic,social,andstrategicimportance

ofaviation.However,thereare

certainlyareasinwhichwewould

liketoseebetterpoliciesinplace

tosupportaviation’ssuccess,

especiallyasweneedtowork

everclosertodevelopamore

sustainableindustry.Aswellas

theneedtoexpandinvestmentin

efficientinfrastructureandairtrafficmanagementsystems,it’sessentialthatgovernmentsdevelopamore

unifiedglobalregulatoryframeworkandfairtaxationsystem.Indeed,thepandemicperiodbroughtthisneedfurtherintothespotlight.

Whenitcomestooperational

efficiencies,itiscrucialfor

governmentstoplaytheirpart.TheSingleEuropeanSky(SES)initiative,whichcouldreduceEurope’sair

transportemissionsupto10%

usingexistingtechnology,hasnotbeeneffectivelyimplemented.

Furthermore,billionsinEuropean

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Inthelongerterm,thepathto

realizethecommitmenttonetzerocarbonemissionsalsocomeswithitschallenges,togetherwiththe

paceofdigitaltransformation,andregulatorychallengestoensure

airlinesremaincompetitiveand

resilientintheevolvingaviation

industry.Butthere’scertainlyroomforoptimism,particularlywhen

weseehowstrongthepaceof

recoveryhasbeenfromaviation’sworstdownturninlivingmemory.

。Whatroledidaviationplay

intheaftermathofthe

tragicearthquakethathitpartsofTürkiyeandSyriaearlierthisyearandwhatdidyoulearn

frombeingonthefrontline?

Airlinesplayavitalroleduring

naturaldisastersbyproviding

transport,facilitatingevacuationandrescueefforts,anddeliveringaid.

Withtheirflightnetworksandfleet,theycanquicklydeployresources,assistinginthepromptdeliveryofaidtotheimpactedregions.

Weareexperiencingchallenging

timesasacountry.Thepainwefeltintheaftermathoftheearthquakecatastropheon6February2023

isstillfresh.Iwouldliketoagain

commemoratethosewholosttheirlives—maytheyrestinpeace—andwishaswiftrecoverytotheinjured.

Aviationplayedasignificantroleintheimmediateaftermath.Fromthemomentthattheearthquake

“Fromthemomentthattheearthquake

occurred,airlines

acrosstheworld

ralliedtohelp.”

occurred,airlinesacrosstheworld

ralliedtohelp.Atleast3,500tons

ofaidfromover90countrieswas

flownin.PegasusAirlinesalone

evacuated157,000peoplefrom

theearthquakezone,transported

110tonsofaidmaterialsatnocost

andfacilitatedthetransportation

ofmorethan120,000peopleand

rescueteamstothedisasterzone.

Theseeffortshighlightthevitalrolethatairlinesandaviationplayduringtimesofcrises.Werecognisethe

needforlong-termsolidarityand,

asthePegasusTeam,alongside

manyothersintheaviationand

travelsector,wecontinuetodoourpartinassistanceefforts,tosustainthissupportonalong-termbasis.

topromotediversity?

。Istheindustrydoingenough

Lackoffemalerepresentation

inaviation,atraditionallymale

dominatedindustry,remainsa

significantissue.Althoughthere

havebeennotableadvancements

inpromotingdiversity,thereisstill

muchworktobedone.According

toFlightGlobal’slatestresearchof

womenintheC-suite,althoughthe

numberofwomenCEOsamong

thetop100passengercarriershas

increasedfrom6to12inthepast

year,indicatingapositivetrend,

therehasbeenadeclineinfemale

representationinotherC-level

positions,highlightingtheneedforcontinuedefforts.AchievinggenderbalanceisnotlimitedtoC-level

roles,butextendstoallprofessions,includingpilots,technicians,and

beyond.Diversityalsoextends

beyondgenderbalance.Itmeans

ensuringthateveryvoiceisheard

andvalued,asdiverseperspectivesbringimmensevaluetotheindustry.

Rolemodelsplayacrucialrole

ininspiringandempowering

peoplefromdiversebackgrounds

topursuecareersinaviation,

anditisalsoimportanttoreach

theyoung.Indeed,itisgoodto

seethatmanycompaniesare

takingstepstoincreasefemale

employmentthroughCadetPilot

trainingprogramsandyoungtalent

programs.AtPegasusAirlines,we

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areproudtohaveMrs.GülizÖztürk,whohasdevotedherselftothis

industryforsuchalongtime,asourCEO.Sheservesasafantasticrolemodelandanadvocateforgenderequalityandcreatesvaluable

opportunitiesforotherwomen.

Numerousinitiativesandprogramsarebeingimplementedtoaddressthegendergapandpromote

diversityandinclusivityinthelabormarket.Sustainedcommitment

andongoingactionsareessentialtocreatingamorebalancedand

equitablerepresentation.IATA’s

25by2025pledge,aimingfora25%increaseinfemalerepresentationinseniormanagerialrolesby2025,isasignificanttargetinaddressinggenderimbalance,butthisisjust

thestartingpoint.Theultimategoalshouldbeachievingequalrepresentationofwomen,sotheaimistoreach50%inthefuture.Theindustrymustcommitto

continuingitseffortsandtoprovideopportunitiesforleadership

developmentandcareergrowth.

Q

Asalow-costcarrier,what valuedoyougetfromIATAmembership?Anddoyousee

potentialformoreLCCstojoin?

Fromlobbyingeffortstotrainingprograms,IbelieveIATAoffers

valuetoallairlines.Itaddressestheneedsof,andchallenges

facedby,low-costairlines,

includingadvocatingforpolicies

thatpromoteacompetitiveand

sustainableoperatingenvironment.

IATAalsotacklesaviation’s

vitalprioritiesinsustainability,diversity,regulation,and

managingoperationalchallenges

andinfrastructurecosts.I

wouldcertainlyencourageandwelcomemoreLCCsjoining.

MehmetT.Nane,

ChairoftheIATA

BoardofGovernors

MEMBERSHIPOFTHEBOARDOFGOVERNORS

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2023

Asat15May2023

1.MichaelRousseau

PresidentandChief

ExecutiveOfficer

AIRCANADA

2.BenjaminSmith

ChiefExecutiveOfficer

AIRFRANCE-KLM

GROUP(representing

AirFrance)

3.RobertIsom

ChiefExecutiveOfficer

AMERICANAIRLINES

4.ShinichiInoue

PresidentandChief

ExecutiveOfficer

ANA

5.JohnDietrich

PresidentandChief

ExecutiveOfficer

ATLASAIR

6.PatrickHealy

Chair

CATHAYPACIFIC

7.MaXulun

Chairman

CHINASOUTHERN

AIRLINES

8.PedroHeilbron

ChiefExecutiveOfficer

COPAAIRLINES

9.MesfinTasewBekeleChiefExecutiveOfficer

ETHIOPIANAIRLINES

10.TopiManner

PresidentandChief

ExecutiveOfficer

FINNAIR

11.ZhuTao

President

HAINANAIRLINES

12.LuisGallegoMartínChiefExecutiveOfficer

IAG(representingIberia)

13.PieterElbers

ChiefExecutiveOfficer

INDIGO

14.YujiAkasaka

RepresentativeDirector,President

JAPANAIRLINES

15.RobinHayes

PresidentandChief

ExecutiveOfficer

JETBLUE

16.MarjanRintel

PresidentandChief

ExecutiveOfficer

KLM

17.WalterCho

ChairmanandChief

ExecutiveOfficer

KOREANAIR

18.RobertoAlvo

ChiefExecutiveOfficer

LATAMAIRLINESGROUP

19.CarstenSpohr

ChairmanandChief

ExecutiveOfficer

LUFTHANSA

20.IzhamIsmail

GroupChiefExecutiveOfficer

MALAYSIAAIRLINES

21.MohamadEl-Hout

Chairmanand

DirectorGeneral

MIDDLEEASTAIRLINES

22.MehmetTevfikNane

BoardChair

Chairpersonofthe

BoardofDirectors

PEGASUSAIRLINES

23.AkbarAlBaker

GroupChiefExecutive

QATARAIRWAYS

24.AbdelhamidAddouChairmanandChief

ExecutiveOfficer

ROYALAIRMAROC

25.YvonneManziMakoloChiefExecutiveOfficer

RWANDAIR

26.IbrahimAl-Omar

DirectorGeneral

SAUDIARABIAN

AIRLINES

27.GohChoonPhongChiefExecutiveOfficer

SINGAPOREAIRLINES

28.AhmetBolat

ChairmanoftheBoard

ofDirectorsand

ExecutiveCommittee

TURKISHAIRLINES

29.ScottKirby

ChiefExecutiveOfficer

UNITEDAIRLINES

30.EnriqueJavier

BeltranenaMejicono

PresidentandChief

ExecutiveOfficer

VOLARIS

ALSOSERVED

(To20June2022)

MrLiuShaoyong,

Chairman,CHINA

EASTERNAIRLINES

MrDonaldColleran,

PresidentandChief

ExecutiveOfficer,FEDEXEXPRESS

MrAjaySingh,Chairman

andManagingDirector,

SPICEJET

(To6September2022)

RonojoyDutta,Chief

ExecutiveOfficer,INDIGO

(To7November2022)

DouglasParker,

Chairman,AMERICAN

AIRLINES

(To1January2023)

TangKinWingAugustus,ChiefExecutiveOfficer,

CATHAYPACIFIC,

(To14April2023)

ChristineOurmières-

Widener,ChiefExecutive

Officer,TAPAIR

PORTUGAL

Economics

IATAAnnualReview2023

ECONOMICS

Aviationfacesa

challengingeconomic

environment

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IATAAnnualReview2023

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Jan-20

May-20

Sep-20

Jan-21

May-21

Sep-21

Jan-22

May-22

Sep-22

Jan-23

15

7.7

01HeadlineCPIandPPI(%changeyear-on-year),OECDCountries

25

20

HeadlineConsumerPriceIndex(CPI)

ProducerPriceIndex(PPI)

Dec-2212.9

10

Mar-23

5

0

-5

Economics

02Crudeoil(Brent)andjetfuelprice(USD/Bbl)

200

180

160

140

120

100

80

60

40

20

0

CrudeOil

JetFuel

13

Aviationfacesachallenging

economicenvironment

Resilienceandstrongrecovery

In2022,COVID-relatedtravelrestrictionsliftedfurtherthoughaviationandtheglobaleconomycontinued

tofacesignificantchallenges.RenewedCOVID-19

outbreaksincertaineconomies,particularlyChina,ledtowavesoflockdowns.Russia’sinvasionofUkraine

disruptedfoodandenergysupplies,drivingconsumerpriceshigherandexacerbatinginflationarypressuresthathadbuiltupduringthepandemic.Tocombat

persistenthighinflation,centralbanksrapidlyraisedinterestrates,resultingintightenedglobalfinancialmarketsandincreasedpressureonhighdebtlevels.

Despitethesechallenges,headlineinflationdeclined,reflectingsomeofthedesiredeffectsofinterestratehikes.TheunemploymentrateinOECDcountriesalsoremainedlowat4.9%,indicatingarobustjobmarketandstrongpurchasingpower.

As2023progressed,travelrestrictionswanedand

China’seconomyshowedsignsofrecoveryfollowingtheendofzero-COVIDmeasures,alongwiththe

removalofmosttestingrequirementsforinternationaltravelers.ThedevelopmentsinChinaareexpectedtoincreaseairtrafficdemandgloballyandeasesupply

chaindisruptions.TheglobalGDPgrowthratefor

2022isestimatedat3.4%,andaforecastedrate

of2.8%for2023suggestsacontinuedexpansion,albeitatamoremoderatepace.

01Source:IATAS&EEconomics,usingdatafromOECD

Industrycostpressuresremainhigh

FollowingRussia’sinvasionofUkraineinFebruary

2022,thecrudeoilpriceexceeded$120perbarrelforthefirsttimeinadecade.Airtraveldemandcontinuedtorecoveroverthesameperiod,whichincreased

demandforjetfuelwhilerefinerycapacityremained

limited.Thisincreasedthecrackspreadbetweenthe

priceofcrudeoilandthepriceofjetfueltohistoric

highsofmorethan$60perbarrelduringthesummer

of2022.Althoughoilpriceshavecomedownfromtheirpeak,theyremainatelevatedlevels.Airlinescontinuetoadjusttheiroperationalstrategiesandinvestin

neweraircrafttoimprovefuelefficiencyandreducetheircarbonfootprint.Risinglaborandinputcosts,however,alongwithhigherinterestrates,continuetoposesignificantchallengestotheindustry’s

profitability.Themoderateperformanceoftheglobaleconomymighteasedemandforoil,butthebalanceofrisksisskewedtothedownsidefortheindustry.

02Source:IATAS&EEconomics,usingdatafromS&PGlobal,Macrobond

Economics

Jan-20

May-20

Sep-20

Jan-21

May-21

Sep-21

Jan-22

May-22

Sep-22

Dec-22

Jan-20

Mar-20

May-20

Jul-20

Sep-20

Nov-20

Jan-21

Mar-21

May-21

Jul-21

Sep-21

N