Global aviation industry body International Air Transport Association (IATA) said on Tuesday that the airline industry will still post record net profits next year despite persistent supply chain problems that have slowed aircraft deliveries and delayed the launch of more fuel-efficient passenger jets.
The forecast comes as aircraft manufacturer Airbus has cut its 2025 aircraft delivery target due to quality issues with some metal fuselage panels on its A320 family of airliners.
The world's major aircraft manufacturers Airbus and Boeing have faced delays in delivering aircraft to airline customers in recent years.
Airlines say they can't carry more passengers while cutting fuel costs without equipping them with newer, more efficient planes.
Still, IATA remains optimistic about the industry’s prospects for the coming year.
Willie Walsh, director general of the International Air Transport Association, said in a statement: "Airlines have successfully built resilience into their businesses and this resilience is delivering stable profitability to the industry."