International Air Transport Association Director General Willie Walsh said on Monday that "most markets should see traffic reach or exceed pre-pandemic levels" in 2023, while this year it is projected to achieve 83% of the 2019 capacity. The agency estimated industry-wide losses came close to $42 billion in 2021, lower than previous forecasts of $52 billion, and that losses for 2022 could amount to $9.7 billion, with profits "on the horizon in 2023."
Walsh confirmed the aerospace industry plans to achieve net-zero emissions by 2050. The 100% carbon abatement is expected to be reached through sustainable aviation fuel (SAF) at 65%, 19% through offsets and eventually through carbon capture, 13% from hydrogen and electric propulsion, and 3% from more efficient operations. However, he criticized world governments, and especially the European Union, for not implementing policies on sustainability, accusing them of "greenwashing."
