GENEVA, 9 December 2016: The global airline industry is set to make a net profit in 2017 of USD29.8 billion, according to the latest International Air Transport Association forecast released Thursday.
It forecasts revenues of USD736 billion that represents a 4.1% net profit margin.
This will be the third consecutive year (and the third year in the industry’s history) in which airlines will make a return on invested capital (7.9%). Read more
GENEVA, 23 November 2016: The International Air Transport Association (IATA) has named Muhammad Ali Albakri as its new regional vice president for Africa and the Middle East.
Albrakri’s appointment is effective 1 January 2017.
He will be based in the IATA regional office in Amman, Jordan. Read more
MEXICO CITY, 15 November 2016: The International Air Transport Association urged governments in Latin America and the Caribbean, Monday, to make infrastructure a priority in unlocking aviation’s economic and social benefits.
Passenger demand in Latin America and the Caribbean is expected to more than double from 298 million in 2015 to 658 million in 2035.
If that demand is met, the number of jobs supported by aviation in the region will grow from 5.4 million to 8.4 million over the same period. And aviation’s contribution to regional GDP will increase from USD176 billion to USD380 billion. Read more
GENEVA, 19 October 2016: The International Air Transport Association (IATA) forecasts 7.2 billion passengers will travel in 2035, nearly double the 3.8 billion air travellers in 2016.
The prediction is based on a 3.7% annual Compound Average Growth Rate (CAGR) according to the latest update of the association’s 20-Year Air Passenger Forecast.
“People want to fly. Demand for air travel over the next two decades is set to double. Enabling people and nations to trade, explore, and share the benefits of innovation and economic prosperity makes our world a better place,” said IATA’s director general and CEO. Alexandre de Juniac. Read more
MONTREAL, 30 September 2016: After years of delays and failures, the airline industry began this week complex negotiations to implement a scheme to reduce its carbon footprint.
Although the aviation sector was exempted from the December 2015 Paris accord on reducing greenhouse gas emissions linked to global warming, aviation officials are mindful of the need to curb the sector’s growing CO2 emissions.
Climate change topped the agenda at the opening of the International Civil Aviation Organisation (ICAO)’s triennial meeting earlier this week. Read more
SINGAPORE, 23 September 2016: The International Air Transport Association called for speed and innovation to enable aviation to continue to deliver economic benefits.
“Aviation is the business of freedom. We make global mobility ubiquitous. For 63 million people, aviation provides the freedom to earn their livelihood. For 3.8 billion travellers aviation includes the freedom to explore the world, develop business, make friendships, visit relatives or make their lives better,” said IATA’s director general and CEO, Alexandre de Juniac.
“Speed and innovation will secure our future so that we can continue to deliver these benefits.” Read more
SINGAPORE, 23 September 2016: Global airlines are expected to post record profits of almost USD40 billion this year, the head of industry body IATA said Thursday, but he warned the sector faced threats from terrorism, a sharp rise in oil prices and protectionism.
Alexandre de Juniac, who took the reins at the International Air Transport Association, 1 September, also called on Southeast Asian nations to invest in infrastructure to cope with surging demand for air travel in the fast-growing region.
The former Air France-KLM chief executive told the group’s symposium in Singapore that collective net profit for the airline industry worldwide would hit USD39.4 billion, up from USD35.3 billion in 2015. Read more
SINGAPORE, 22 September 2016: International Air Transport Association announced, Tuesday, the adoption of resolutions supporting the development of the New Generation of IATA Settlement Systems known as NewGen ISS.
IATA Settlement Systems are the financial back office of the air transport industry.
Since its introduction 45 years ago, the Billing and Settlement Plan (BSP) has facilitated the distribution and settlement of funds between travel agents and airlines, totalling more than USD230 billion in 2015. Now it is scheduled for some major improvements. Read more
GENEVA, 9 September 2016: Global passenger traffic results for July indicated growing demand over the previous five months, according to The International Air Transport Association’s report released Wednesday.
Revenue passenger km (RPKs) rose 5.9%, compared to the same month last year, with all regions reporting growth. Monthly capacity (available seat km, or ASKs) increased by 6%, and the load factor was 83.7% – just 0.1 percentage point below the record July high achieved in 2015.
“July saw demand strengthen, after a softening in June. Demand was stimulated by lower fares, which, in turn, were supported by lower oil prices. And near record high load factors demonstrate that people want to travel. But, there are some important sub-plots to the narrative of strong demand,” said IATA’s director general and CEO, Alexandre de Juniac. Read more
VIENTIANE, 16 August 2016: Lao Airlines celebrated its entry into full membership of the International Air Transport Association at an official admission ceremony held at its head office last week.
According to a management statement, Lao Airlines joined as a full member of IATA, 12 July, but the formal admission ceremony was held last week at Lao Airlines Head Office in Vientiane.
The airline president, Dr Somphone Douangdara, said becoming a full member of IATA was a major achievement for the airline. Read more