L IA N C E IO 2 SP DIT UE E S IS
I N T E R N AT I O N A L DA I LY 23 SEPTEMBER 2016
WORLD FINANCIAL SYMPOSIUM
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21-23 September 2016 | Singapore
The business of freedom In his fi rst speech as IATA’s Director General and CEO, Alexandre de Juniac stressed that aviation is in the business of freedom. “The connectivity that we provide brings people and businesses together, enables global supply chains, and connects families and loved ones. The world is a better place for the freedom we provide.” He noted, however, that the current fi nancial success of the industry and its sustained fi nancial health—critical to the delivery of these benefits—should not be
taken for granted. “We have built greater resilience into our operations,” he said. “The roots of our fi nancial success lie much deeper than lower oil prices. But that does not mean we are immune to sudden shifts in fortune.” There are significant regional variations in profitability and the industry remains vulnerable to world events, such as an increase in the number and intensity of terrorist acts aimed at aviation and air travel or a sudden rise in oil prices. Other
potential risks include a global economic downturn and a retreat from the principles of free trade by one or more major economies. All of which, de Juniac said, “should point us in the direction of vigilance.” He urged speed and innovation as defences against such risks. “We need to be prepared to react quickly when the environment changes. That’s not easy for any business—and it is a real struggle for process-driven industries like air transport.” The WFS theme of high performing fi nancial organizations is a way forward. But, de Juniac stressed, high performance must also permeate the entire organization. “The dream team for any CEO has high performance across all of its functions, so that effective decisions can be made swiftly,” he said. “That’s what drives innovation with speed.” Innovation is one of four themes outlined in IATA’s Financial Committee White Paper for supporting sustained industry fi nancial health alongside smarter regulation, value chain optimization, and more efficient processes. “You can count on my continued support of these initiatives,” de Juniac said. “These resonate particularly well with me because each has an element of partnership. Our organizations are built on teamwork and the industry is founded upon partnerships.”
K E E P U P T O DAT E W I T H A L L T H I N G S A I R L I N E S R E L AT E D AT A I R L I N E S . I ATA . O R G
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W W W. I A T A . O R G / E V E N T S
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