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.
More Quotes from Giovanni Bisignani:
If we reach our target of 100 percent for worldwide electronic ticketing in 2007, then the airline industry could save about 3.5 billion annually.Giovanni Bisignani
The challenges facing the industry are enormous.
Giovanni Bisignani
If one of the partners in a partnership is losing his shirt while the other is counting his money, it is no longer a partnership.
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
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
Oil remains the wild card for industry profitability. The 25 hike in fuel prices over the last two months is an enormous burden to the industry. However, the S 1.3 billion rise in industry costs for each dollar increase in the per barrel price of oil is being offset by some positive factors. Industry hedging levels are 50. Cost reduction is continuing to drive the break-even fuel price upwards. And the US domestic yield rose 12.4 in February.
Giovanni Bisignani
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Lotte Lehmann
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Aesop
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