Departing IATA Boss Calls for Sustainable Profitability as Forecast Dips

Outgoing IATA director general and CEO Giovanni Bisignani called on his members to aspire to sustainable profitability as he announced a new leadership tea

IATA’s outgoing director general and CEO Giovanni Bisignani called for airlines to focus on sustainable profitability even as the association downgraded the projected combined profits of its members for 2011 to $4 billion, 54 percent below the March 2011 forecast.

By Ian Sheppard

June 13, 2011

Outgoing IATA director general and CEO Giovanni Bisignani called on his members to aspire to sustainable profitability as he announced a new leadership team for the association at its Annual General Meeting in Singapore on June 6. On July 1, former Cathay Pacific Airways CEO Tony Tyler will succeed the charismatic Italian, while Peter Hartman, president and CEO of KLM, will serve as the new board chairman for 2011-12. Bisignani will become IATA’s director general emeritus.

“After a decade of crises and shocks, airlines today are safer, stronger, leaner and greener,” said Bisignani. “But sustainable profitability remains elusive. We expect airlines to make just $4 billion profits this year on revenues of $598 billion.”

The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.

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