Airline industry expected to make profit in 2023, first since 2019

The airline industry is expecting to turn to a profit in 2023 for the first time in four years.

CNN— The airline industry is expecting to turn to a profit in 2023 for the first time in four years.

According to a forecast by the International Air Transport Association, airlines will earn a net profit of $4.7 billion.

Net losses for 2022 are expected to be $6.9 billion which is less than the organization had previously forecast and significantly better than both 2021 and 2020.

The last time the industry made money was 2019 before the pandemic.