(TAN): The International Air Transport Association (IATA) said the 2022 World Financial Symposium (WFS) will focus on reshaping airline resilience. The event will take place during September 19–22 in Doha, Qatar, with Qatar Airways as the host airline, IATA said in a news release.
The industry is emerging rapidly from the pandemic and government-mandated travel restrictions of the past two years. Industry losses are expected to reduce to USD 9.7 billion this year from nearly USD 180 billion in red ink in 2020-21. As travel barriers fall in most regions, very strong demand is supporting expectations for a recovery to pre-Covid-19 traffic levels by 2024, with profitability a possibility in 2023.
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At the same time airline debt levels have soared as carriers borrowed to stay aloft during the crisis. And finance departments across the industry will face challenges as the industry achieves its 2050 fly net zero commitment.
“Airlines are resilient. Now is the time to build on the hard work and difficult restructurings of the past two years to seize opportunities coming out of the crisis. Finance will play a vital role in supporting the ongoing recovery while creating a sustainable capital structure to support our ambitious environment agenda,” said Willie Walsh, IATA’s director general.
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Qatar Airways Group CEO Akbar Al Baker said: “We are honored to be hosting the first in-person WFS since 2019 during our milestone 25th year of operations. This vital symposium will bring together financial leaders from airlines and our many supply chain partners to discuss and debate the path forward and the challenges to be overcome.”
