Qatar / Transport

Qatar to host symposium on reshaping airline resilience in post-Covid pandemic

Published: 24 Aug 2022 - 08:40 am | Last Updated: 24 Aug 2022 - 08:42 am


Geneva: Qatar, represented by Qatar Airways, will host the 2022 World Financial Symposium (WFS) in Doha from Sept. 19 to 22.

The International Air Transport Association (IATA) announced in a statement Tuesday that the 2022 World Financial Symposium (WFS) will focus on reshaping airline resilience.

Qatar Airways Group Chief Executive HE 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."

For his part, IATAs Director General Willie Walsh said: "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."

Following the greatest shock to aviation in history, 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 $9.7 billion this year from nearly $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.

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.