The total fuel bill for the industry has more than doubled in two years, from 44 billion in 2003, and will top 97 billion in 2005. With a total industry turnover in the range of 400 billion a year, jet fuel will make up 25 percent of our total costs.
More Quotes from Giovanni Bisignani:
Turning growth into profitability has never been more critical. Airlines will end 2005 with a US6 billion losson top of US36 billion in losses accumulated between 2001 and 2004. As we battle the high price of fuel, cost efficiency will continue to be a top prioritynot only for airlines but for every partner in the value chain including airports and air navigation service providers.Giovanni Bisignani
There is a new cautious optimism emerging in the industry. Improved economic prospects in Europe and Asia, combined with an improving situation in the US, will lead to reduced losses in 2006 and strengthened profitability in 2007. While the trend is positive, we are nowhere near sustainability.
Giovanni Bisignani
The airline battle to reduce costs, increase yields and improve efficiencies is effective well beyond expectations.
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
Freight and passenger traffic are forecast to grow in the 5 to 6 per cent range during the year but the industry is projected to record another loss of over US4 billion for 2006.
Giovanni Bisignani
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Richard Reeves
Kerry is an adult - he thinks things through. He learns from the present as well as the past. To George Bush, thinking things through is for sissies.
Richard Dreyfuss
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Johann Wolfgang von Goethe