Defending the Business of Freedom
Originally published: June 5, 2017
The International Air Transport Association (IATA) reported that the global airline industry’s performance on safety, sustainability and profitability is solid, but the industry faces the threat of protectionist measures being implemented by governments. IATA also called for governments to enhance their collaboration with the industry to meet rising security challenges, avert a looming infrastructure crisis and to build smarter regulation.
The Director General’s Report on the Global Air Transport Industry was delivered to the 73rd IATA Annual General Meeting and World Air Transport Summit. The event opened today and has gathered 1,000 industry leaders and stakeholders in Cancun, Mexico.
Highlights from de Juniac’s address include:
Industry Financial Performance: Although regional differences remain stark, overall the air transport industry is generating profits above its cost of capital. In 2017 the global airline industry is expected to generate a $31.4 billion profit on $743 billion in revenues. That’s a $7.69 average profit per passenger.
Defending Against Protectionist Measures: “Nothing should stand in the way of aviation—the business of freedom. Aviation is globalization at its very best. But to deliver aviation’s many benefits we need borders that are open to people and trade. Today we face headwinds from those who would deny the benefits of globalization and point us in the direction of protectionism. This is a threat to our industry. We must bear witness to the achievements of our connected world. And we must ensure the benefits of aviation for future generations,” said Alexandre de Juniac, IATA’s Director General and CEO.
Read the rest at IATA.