Qatar Airways will Host Global Aviation Industry World Financial Symposium in Doha

Published on: 20 September 2022
by KnowESG
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Under the patronage of Transport Minister Jassim Bin Saif Al-Sulaiti. Qatar Airways will host the largest gathering of aviation's financial experts since before the start of the COVID-19 pandemic. Following the successful IATA AGM and World Air Transport Summit (WATS) in Doha in June, the IATA World Financial Symposium (WFS) will be held from September 19–22, 2022.

As the business recovers from the worst financial shock in history, data show a swift recovery from the epidemic following the relaxation of government-mandated travel restrictions over the last two years. 

Losses in the industry are predicted to reduce to $9.7 billion this year, improved from almost $180 billion in the preceding two years (2020–21). 

As travel restrictions fall in most locations, a recent rise in demand points to a return to pre-COVID-19 traffic levels in 2024, with a possibility of profit in 2023.

Meanwhile, airline debts skyrocketed as carriers borrowed to stay afloat during the crisis. As the goal of flying net zero by 2050 approaches, finance departments across the sector will confront major challenges.

Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, said:

“We are honoured to be hosting the first in-person World Financial Symposium since 2019, especially during our milestone year, celebrating 25 years 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.”

Willie Walsh, IATA’s Director General, said: 

“We are excited to bring the World Financial Symposium to Doha for the first time. As the industry continues to recover, the role of finance in rebuilding balance sheets and supporting our sustainability agenda will take centre stage in the important discussions taking place over the next few days.”

Source: Qatar Airways

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