IATA today announced that its sixty-eighth AGM and World Air Transport Summit will be held in Bejing next Monday. The event, hosted by Air China, will bring together over 650 global aviation leaders over two days of discussions.
Tony Tyler, IATA’s director general and CEO, summarised some key issues: “Oil prices are high, although moderating somewhat from recent peaks. The European sovereign debt crisis is unresolved and we are seeing signs that it is starting to affect Asia’s export-driven economies. And the largely jobless recovery from the 2008 global financial crisis is proceeding at a glacial pace. Passenger demand is strong, cargo is weak and the industry’s profitability remains razor thin.”
In March, IATA announced its industry outlook: $3 billion profit on $633 billion in revenues for a net margin of 0.5 per cent. On Monday, the association will revise this outlook taking into consideration the volatility over recent months. Two panel discussions will take place: the CEO Forum and Doing Business with China. On Tuesday four further discussions will be held on Social Media and Air Transport, Value of Aviation, Commercialisation of Biofuels and the Future of Airline Distribution.
