The industry is returning to a more normal growth pattern after the shocks that began in 2001.
More Quotes from Giovanni Bisignani:
Cost reduction remains critical. All industry partners and stakeholders will have to sustain their focus on fuel efficiency and attack costs. While we have made some good progress, the road ahead is long. Far too many airport monopolies do not understand the need for efficiency and too many governments are shirking their responsibility to regulate where commercial discipline is absent.Giovanni Bisignani
The story for January was freight which is starting to show a definite strengthening trend following the disappointing 3.2 growth of 2005. This is the first time in a year we have seen two consecutive months of freight traffic growth above 5 which points to a resurgent world economy.
Giovanni Bisignani
Airlines will spend 34 billion more for fuel this year than last, and about 1.4 billion of that will make its way to the bottom line. That will drive losses to 7.4 billion for 2005.
Giovanni Bisignani
Oil remains the single-biggest challenge for airline profitability. Strong demand gives little hope of significantly reduced prices this year. What is disappointing is the response of the oil industry. Instead of expanding refinery capacity, the oil companies plan to return a quarter of a trillion dollars to investors over the next two years. Airlines alone have contributed 14 billion to this windfall profit. It is time that governments stepped in to encourage investment in new refinery capacity along with research into alternative fuel sources.
Giovanni Bisignani
Airline ownership restrictions became national rights. Now the flags on our aircraft are so heavy they are sinking the industry.
Giovanni Bisignani
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