Oil is once again robbing the industry of a return to profitability. Cost reductions and efficiency gains have never been more critical.
More Quotes from Giovanni Bisignani:
The challenges facing the industry are enormous.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
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
The European discussion of airline blacklists to improve airline safety is a cause for concern, ... While blacklists may be an opportunistic political response to human tragedies, they are not the solution to further improving airline safety.
Giovanni Bisignani
Paper costs money...you do not need to be a rocket scientist to understand that up to 3 billion in savings are possible.
Giovanni Bisignani
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