Highlights From IATA's 78th AGM: Travel Recovery, D&I Awards, Panel Discussions & More

Hello and welcome back! It's been a particularly busy period as our 78th?Annual General Meeting and the World Air Transport Summit were held in Doha, Qatar this week. Our sincere thanks to Qatar Airways for graciously hosting this crucial aviation event. While many of the major highlights are included below, please visit our site for all the news and details in full.

Travel Recovery is Rebuilding Airline Profitability

To begin, some good news out of Doha: Marie Owens Thomsen announced an upgrade to our outlook for the airline industry’s 2022 financial performance as the pace of recovery from the COVID-19 crisis quickens.

Forecast highlights include:

• Industry losses are expected to reduce to -$9.7 billion (improved from the October 2021 forecast for an $11.6 billion loss) for a net loss margin of -1.2%. That is a huge improvement from losses of $137.7 billion (-36.0% net margin) in 2020 and $42.1 billion (-8.3% net margin) in 2021.
• Industry-wide profitability in 2023 appears within reach with North America already expected to deliver an $8.8 billion profit in 2022.
• Efficiency gains and improving yields are helping airlines to reduce losses even with rising labor and fuel costs (the latter driven by a +40% increase in the world oil price and a widening crack spread this year).
• Industry optimism and commitment to emissions reductions are evident in the expected net delivery of over 1,200 aircraft in 2022.
• Strong pent-up demand, the lifting of travel restrictions in most markets, low unemployment in most countries, and expanded personal savings are fueling a resurgence in demand that will see passenger numbers reach 83% of pre-pandemic levels in 2022.
• Despite economic challenges, cargo volumes are expected to set a record high of 68.4 million tonnes in 2022.

Aviation is resilient. And we are rebounding. People who longed for the freedom to fly are taking to the skies again—and in growing numbers. By next year, most markets should see traffic reach or exceed pre-pandemic levels.??

-Willie Walsh, IATA's Director General

Watch Willie deliver his report on the Air Transport Industry

Multimedia Highlights

? Watch all of the panels, speeches and other video highlights

? See all of the photo highlights from the AGM

? Full media kit including briefings and presentations

?On the Path to Sustainability with FlyAware

This week we were also proud to announce the launch of FlyAware , IATA's Environment Knowledge Center to support airlines on their journey to #FlyNetZero .

FlyAware is an invitation-only platform, open exclusively for member airlines and strategic partners which curates to their needs around:

• Sustainable Aviation Fuel
• Carbon Offsets
• Cabin Waste
• Sustainable finance and other topics on aviation's environmental agenda

Learn more about FlyAware .

2022 Diversity & Inclusion Awards

One of the biggest moments at this year's AGM was the announcement of the winners of the 2022 Diversity & Inclusion Awards . Their work day in, day out to advance gender balance in the aviation industry is a true inspiration.

Congratulations to all the winners!

And if you couldn't make it to see it live at the AGM, make sure to watch the insightful and inspiring Diversity & Inclusion discussion moderated by Jane Hoskisson .

Inspirational Role Model: Güliz ?ztürk – CEO at Pegasus Airlines

High Flyer Award: Kanchana Gamage – Founder and Director of The Aviatrix Project

Diversity & Inclusion Team: airBaltic

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Chart of the Week

Low unemployment and high savings, coupled with the observed strong desire to make up for the lack of travel over the past two years, are likely to lead to buoyant air traffic growth this year, in spite of the elevated rates of inflation.

In OECD countries, unemployment rates have fallen for 12 consecutive months, to 5% in April 2022.

The risk is greater that unemployment might rise in 2023, and that consequently precautionary savings will dry up, pointing to a potentially slower pace of growth in air transport demand next year.

Read more about the #WeeklyChart and unemployment and inflation .

Jet Fuel Price?(as of 17 June 2022)

News in Brief

? Launch of IATA CO2 Connect in Support of Industry Sustainability Commitment

? Three Vital Pandemic Lessons for Governments to Restore Public Confidence

? ICAO Assembly Must Adopt Long Term Aspirational Goal to Decarbonize Aviation

? Government Support Needed to make Transport of Lithium Batteries Even Safer

? Ensuring Safe Rollout of 5G Networks

? Incentives Needed to Increase SAF Production

?Training Spotlight of the Week

To celebrate our golden anniversary, we’re offering?50% off our in-demand e-learning courses ?until 30 June.

Our e-learning courses provide short-interactive learning that is paperless, eco-friendly and available across all devices. The program offers 50+ bite-sized online courses that equip you with on-the-job essentials and allows you to quickly add new skills to your resume.

Learn more about our training resource s and then use the promo code?IATA50EL50.

Thanks for reading! Safe travels and please consider sharing this newsletter.