Speaking during the annual Scottish Passengers Agents’ Association (SPAA) dinner on Thursday (23 February), Walsh said he expects the aviation industry to turn a profit this year.
"We hope to make about $5 billion US dollars collectively, having lost $190 billion in 2020, 2021 and 2022, as traffic is recovering strongly," he told attendees.
"People often ask me, ’how does this compare to what it was like running an airline in 2001 and 2009?’.
"In 2001, industry revenue fell by 6%. In 2009, revenues fell by 16.5%. In 2020, revenues fell by 56%. We have not seen anything like this before."
