According to IATA, the Indian aviation market has great potential

In India, there are great opportunities for the aviation industry to explore, said Willie Walsh, director-general of the International Air Transport Association (IATA), on Monday. Walsh described the market as dynamic and said India is one of the fastest growing aviation markets in the world. Air India has launched an ambitious expansion plan, while IndiGo will fly to more international destinations.

India’s growing prominence in the global aviation league was reflected in the appointment of Air India CEO and Managing Director Campbell Wilson and IndiGo CEO Pieter Elbers to join the 31 airline CEOs on IATA’s Board of Governors. Elbers will also be Chairman of the Board of Governors from June 2024.

Walsh supported India’s proposal that countries should have common but differentiated responsibilities in efforts to reduce carbon emissions. “We recognize and acknowledge the decision of India and many other countries underscore the need to reflect differentiated responsibilities,” he said.

India said on May 31 that global Sustainable Aviation Fuel (SAF) mandates targeting 2050 are “too early” and that each state must be allowed to develop its strategy according to its national plans. She also requested support from the United Nations’ aviation regulatory body, ICAO, to achieve net-zero carbon targets, among other priorities in the aviation sector, such as the growing demands of passengers.

Global airlines are expected to post nearly $10 billion in profit this year as business recovers from the pandemic, according to a new forecast by the International Air Transport Association (IATA).

IATA on Monday more than doubled its earnings forecast for the global airline industry for 2023 despite a looming economic downturn. Airlines are expected to post net income of $9.8 billion in 2023, compared to a December forecast of $4.7 billion.

The higher profitability was supported by freight revenue, China’s reopening and lower jet fuel prices, Walsh said.

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