Accurately Calculating Air Travel's Carbon Footprint. Also: A Return to Profitability and More News

Welcome back! Considering IATA’s Global Media Days 2022 took place last week, we've got lots of news to catch you up on - including developments in cargo, sustainability, biometrics, economics and much more. Let's get right to it.

IATA and Travalyst to Collaborate on Flight CO2 Emission Calculations

IATA and?Travalyst have joined forces with the aim of providing consumers with a consistent, accurate and widely available calculation of their carbon footprint from air travel.

As all sectors of the aviation and travel industries come together in pursuit of net zero CO2 goals, this new and major collaboration effort will bring even greater transparency, accuracy and consistency to how a traveler’s carbon footprint is calculated.

"This is the first time that airlines and the travel technology sector have come together in this way. As such it is a milestone moment in the decarbonisation of the sector."

Sally Davey, CEO, Travalyst

Learn more about the new collaboration.

Outlook for Aviation: Airlines Cut Losses in 2022; Return to Profit in 2023

In 2023 the airline industry is expected to tip into profitability. Airlines are anticipated to earn a global net profit of $4.7 billion on revenues of $779 billion (0.6% net margin).

This expected improvement comes despite growing economic uncertainties as global GDP growth slows to 1.3% (from 2.9% in 2022).?

Despite the economic uncertainties, there are plenty of reasons to be optimistic about 2023.

Learn more about the economic outlook.

IATA Establishes Modern Airline Retailing Program

During Global Media Days, we also announced the establishment of the Modern Airline Retailing program to advance customer centricity and value creation in the airline industry.

The transformation will be accelerated by a consortium of advanced airline adopters that will work together through IATA. Consortium participants include American Airlines, Air France-KLM, British Airways, Emirates, Finnair, Iberia, Lufthansa Group, Oman Air, Singapore Airlines and Xiamen Airlines.?

Learn more about the three pillars upon which the Modern Airline Retailing program is built.

More News from #IATAGMD:

? 2022 SAF Production Increases 200% - More Incentives Needed to Reach Net Zero

? IATA Calls for Transition to Enhanced Ground Support Equipment

? Arriving at the Airport ‘Ready to Fly’ is Closer to Reality with New Industry Standards

? View the Full 2022 Global Media Days Media Kit

Chart of the Week: A Return to Industry Profitability in 2023

With an expected return to profitability in 2023, airlines will once again demonstrate their resilience, their capacity to manage significant shocks, and to recover swiftly from unprecedented adversity.

The?airline?industry is expected to show a profit of USD 4.6 billion on revenues of USD 779 billion in 2023 – representing an EBIT or operating margin of just 0.4% and a per passenger profit of just USD 1.1.

This would equate to the speediest recovery in the industry’s history, in relation to the depth of the downturn.

Learn more about the?#WeeklyChart?and a return to profitability in 2023.

Amount of Blocked Airline Funds Continues to Increase

IATA warned that the amount of airline funds for repatriation being blocked by governments has risen more than 25% ($394 million) in the last six months.

Total funds blocked now tally at close to $2.0 billion.

IATA calls on governments to remove all barriers to airlines repatriating their revenues from ticket sales and other activities, in line with international agreements and treaty obligations.?

Airline funds are being blocked from repatriation in more than 27 countries and territories

Learn more about the situation in Airlines.

Jet Fuel Prices (as of 9 December)

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