The International Air Transport Association is planning and organising a significant Aviation Summit in Singapore, scheduled for 20th February 2006.
According to IATA the future of the air transport industry is promising - “Over 1.8 billion
passengers travelled in 2004, with international passenger and cargo expected to grow at an annual rate of 5.6% and 6.3% respectively until 2009. But the road ahead is challenging as air transport experiences its most difficult period. Following on losses exceeding US$30 billion since 9.11, soaring fuel prices will drive industry losses of at least another US$6 billion in 2005. Cost cutting is not keeping pace with falling yields.
The value proposition is changing. Travellers expect convenience and connectivity, but they are not prepared to pay for the complexity of the industry systems that have evolved over time. Simplifying the business and focusing on value is critical.
Asia is home to one of the most dynamic markets in aviation today -
India. With less than 1% of its population traveling by air, India’s growth potential is enormous. Within a period of 15 years, the number of Indian carriers has grown from 2 players to more than 10 today. Indian carriers also placed over US$12 billion of aircraft orders at the Paris Air Show. There are great opportunities and great challenges.
India will change the face of modern aviation.
Change-to recover lost ground and take advantage of new opportunities-has never been more important.”
The summit aims to cover these areas through three panel discussions: Discussion 1 is Mapping The Future, Winning Strategies and this panel, comprising Brian Pearce, IATA’s Chief Economist, ATW Editorial Director, J.A. Donoghue and the winners of the Air Transport World Airline Industry Achievement Awards, will map the future of air
transport, identify key industry trends, emerging markets and changes
in travel patterns. The panel will also look at the changes in the way people travel, discuss how airlines can create and retain value in the industry, as well as what can be done to contain rising costs when it seems uncontrollable.
Discussion 2 is Let’s Help The Passenger and this panel will discuss the present and future of what can be done by airlines and airports to help the passenger, explore the opportunities made available by technology, and identify what passengers value when
The final panel will be ‘Accommodating New Markets’ and deals with India. The Indian air transport sector is among the most vibrant and fastest growing in the world. The number of Indian carriers has grown from 2 players in 1991 to more than ten today. Indian carriers also placed over US$12 billion of aircraft orders at the Paris Air Show. With GDP growth of 7.2% for 2005 to 2009, air traffic growth can be expected to
be in the 15% range. Significant changes, both regulatory and infrastructure, are taking place in India. This panel will discuss the travel trends, opportunities and changes in taking place, and will also give an insight into the huge market.
Mr Praful Patel, India’s Minister for Civil Aviation, will be keynote lunch speaker, and Singapore’s Transport Minister, Mr Yeo Cheow Tong, will give the opening address.