newstodate.aero
MAR 24, 2003 (newstodate): Speaking at the IATA conference opening in Montreal today, IATA's director general said the current Iraq war calls for drastic measures to enable the industry to survive.
He said, the war in Iraq comes at a time when the airlines, having accumulated $30 billion of losses since 9/11, are still struggling with the effects of the worst crisis in the history of the industry.
The armed conflict could easily add $10 billion dollars of losses on international traffic by extending the current traffic slump well into the summer season, he said.
-Our industry needs change. Government regulation keeps our industry from changing. This ICAO conference may well represent the last chance to set our industry on the right regulatory track, said Giovanni Bisignani.
IATA identified three obstacles to the change the industry needs: the bilateral system, national ownership rules and the attitude of competition authorities
He said, the war in Iraq comes at a time when the airlines, having accumulated $30 billion of losses since 9/11, are still struggling with the effects of the worst crisis in the history of the industry.
The armed conflict could easily add $10 billion dollars of losses on international traffic by extending the current traffic slump well into the summer season, he said.
-Our industry needs change. Government regulation keeps our industry from changing. This ICAO conference may well represent the last chance to set our industry on the right regulatory track, said Giovanni Bisignani.
IATA identified three obstacles to the change the industry needs: the bilateral system, national ownership rules and the attitude of competition authorities