Asian and European airlines profit while US airlines post losses
Biggest obstacle to the global aviation industry’s growth was North America, whose airlines posted total losses of nine billion dollars in 2004, while Asian airlines posted $2.6 billion in profit and European airlines posted a profit, of $1.4 billion, reported International Air Transport Association (IATA) from their Tokyo conference.
In Asia, strong growth is coming China with their low labour costs advantages; India, which is experiencing a boom in next low cost airlines cutting fares to to encourage traffic.
European airline industry posted a profit, with better passenger loads, fueled by low cost airlines, and industry consolidation.
North America’s airline wows include high labor costs and airport taxes and competition from low-cost carriers, eating into profits of main stream airlines..
IATA, which represents 95 percent of the world’s air carriers, but not including such major low cost airlines as Southwest, JetBlue in U.S. or Ryanair and Easyjet in Europe, held its conference in in Tokyo this week. Major airline CEOs voiced their views:
Air France chairman and chief executive Jean-Cyril Spinetta believe high energy costs would accelerate consolidation of the industry, especially with all the new airlines entering the market.
Robert Milton, chairman of Air Canada and other airline heads urged banning together to fight government policies, which allow new airlines to enter the market so, easily.
Wolfgang Mayrhuber, chief executive of Lufthansa, believe airlines should focus on being full service providers and meeting the changing customer needs.
Charles Kao
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