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.
More Quotes from Giovanni Bisignani:
We must continue to evolve to a low-cost industry that provides high-quality, cost-efficient service across the board. This should be at the top of our common agenda.Giovanni Bisignani
The fuel crisis at Heathrow is unprecedented. Today's agreement is a pragmatic solution to a very difficult, complex and unique situation. IATA will continue to closely monitor the situation. The next hurdle will be accommodating summer schedules that begin on 31 March. Simultaneously IATA will undertake to develop a global standard for handling future supply crises.
Giovanni Bisignani
The industry is returning to a more normal growth pattern after the shocks that began in 2001.
Giovanni Bisignani
The industry will not see black ink until at least 2007.
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
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.
Giovanni Bisignani
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