IATA: Global aviation seeing improvements
June 8, 2010, 04:10 pm
At the 66th Annual General Meeting and World Air Transport Summit, Giovanni Bisignani said there were a few reasons why people in the aviation industry should feel positive.
The executive director of the International Air Transportation Association noted that many areas in the world are seeing an upturn in air traffic. For example, the Asia-Pacific region is leading the way with $2.2 billion in profits, while North America has returned to making money at $1.9 billion.
"Today there is some cautious optimism," Bisignani said. "Global traffic is back to pre-recession levels with load factors nearing 80 percent and the bottom line is improving."
However, challenges may still face aviation, including labor costs and the price of oil. Bisignani said that the industry has been a leader in cutting down on carbon emissions while also trying to find fuel sources that would reduce its dependence on oil.
One of the options he mentioned that is being pursued are biofuels. A recent report noted that in the next 10 years, the use of these fuels could see an increase. United Airlines also tested a new synthetic fuel on a test flight flown from Denver International Airport.
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