While revenues are increasing, earnings are being squeezed by rising fuel, labour and maintenance expenses. Finding alternative means to keep flying secure without the inconvenience of the current laptop ban, combating human trafficking, implementing the Carbon Offset and Reduction Scheme for International Aviation (CORSIA) and modernising air cargo processes were some of the serious issues on which 73rd IATA AGM deliberated at Cancun (Mexico) in the first week of June 2017. Anil Tyagi, Editor, and Anish Gandhi, Consultant Foreign Affairs, of gfiles flew to Cancun to understand the frank and daring deliberations of International Air Transport Association’s (IATA) 73rd AGM.
CANCUN is a beautiful destination where people travel to celebrate honeymoon, marriage anniversaries or relax during summer vacations, but the International Air Transport Association (IATA) decided to hold its 73rd Annual General Meeting (AGM) to deliberate the challenges of the aviation industry for two days in the hot summer of June. The way leaders of aviation industry appear to be worried on the challenges and squeezing of profit, it appears they want the political leadership of the world to understand the enormity of the lifeline of the society. The aviation leaders appeared to be perturbed by some sudden announcements of reckless legislations by the respective nations even without consulting or informing the aviation industry, which has a size of $2.7 trillion of economic activity and delivers a third of global trade.
The 73rd IATA AGM and World Air Transport Summit present a glimpse of the World Air Trade and indicate how the economy of the world will progress. IATA’s Director-General and CEO, Alexandre de Juniac, in his inaugural speech was forthright in pointing out the issues concerning the industry. The first order of business was electing Aeroméxico CEO, Andres Conesa, as President of the AGM. The IATA announced that Goh Choon Phong, CEO of Singapore Airlines, will be the new Chairman of the IATA Board of Governors (BoG) for a one-year term, effective from the conclusion of the 73rd IATA Annual General Meeting (AGM) in Cancun. Goh is the 76th Chair of the IATA BoG, and the third CEO of Singapore Airlines to hold this position.
This story is from the July 2017 edition of gfiles.
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This story is from the July 2017 edition of gfiles.
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