Revenues
Total company revenues this year are expected to grow 26.7% from 2020 to $ 472 billion, a similar value to 2009 levels. In 2022, there should be a 39.2% increase to $ 658 billion, similar to levels. of 2011.
Record losses in Europe
Geographically, there are notable differences. In Europe the worst results. This year there will be losses of -20.9 billion dollars and next year the forecast is -9.2 billion. On the contrary, the situation in North America: this year losses of -5.5 billion, in 2022 a net profit of 9.9 billion dollars is expected. In Asia-Pacific, a net loss of -11.2 billion is expected this year and -2.4 billion next.
Net zero emissions in 2050
The other important decision of the IATA assembly is the approval of a resolution to reduce pollution caused by airplanes, albeit 30 years later. Companies around the world are committed to achieving net zero carbon emissions by 2050. Walsh explained that the previous commitment, made in 2009, to halve 2005 emissions by 2050 was not “ambitious enough”. 2050. This commitment respects the 2015 Paris climate agreement, Walsh said.
What does it mean
«The goal can be achieved. It requires a combination of sustainable aviation fuels (SAFs), radical aerostructure designs, advanced propulsion systems, efficiency gains and compensation, ”Walsh said. Reaching the goal “will be a huge challenge,” says IATA. It should be noted that zero net emissions does not mean zero emissions, but having a net zero balance between each ton of CO2 or another greenhouse gas that spreads into the atmosphere and each ton that is removed.
The Chinese hold back
The Chinese companies China Eastern and China Southern have proposed, with online messages because they are not present in Boston, changes to the resolution to postpone the goal to 2060, but the assembly did not accept them. However, world air transport is looking with interest at China, a huge market. Also for this reason the next general assembly of IATA will be held in China, in Shanghai, from 19 to 21 June 2022.