IATA calls on aviation leaders to look beyond crisis of last decade
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he International Air Transport Association (IATA) has called on industry leaders to look beyond the crisis that has buffeted the air transport industry over the last decade and to strategically define a sustainable future.IATA Director General and CEO Giovanni Bisignani made the call in his State of the Industry address at the start of the 66th IATA Annual General Meeting and World Air Transport Summit earlier this week, after announcing that airlines are expected to post a profit of $2.5 billion in 2010. “It is time to think big and to look beyond the cycles and shocks. Our duty is to work together to define a vision on which to build a sustainable future,” said Bisignani, who outlined his vision for aviation in 2050. “We will be very near to zero accidents. We will emit half the carbon. We will have eliminated queues with integrated systems ensuring security as we process more passengers. “We will operate with almost no delays in globally united skies. We will share costs and profits equitably across the value chain. We will be a consolidated industry of a dozen global brands supported by regional and niche players. And we will deliver value to investors,” he said.”In just over a decade, I can see $100 billion in industry profits on revenues of $1 trillion. As we move towards 2050, this 10% margin will become even more robust. This is not just a crazy dream. Before the recession, at least a dozen IATA members already had 10% margins. We must make this a much broader reality. Change in all areas is possible. This vision
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