Willie Walsh, IATA’s Director General, delivered his report on the air transport industry In Dubai at the 80th IATA Annual General Meeting (AGM). During this, Walsh outlined the current industry landscape and speculated on its future, touching on challenges, opportunities, and drivers. Here are some of the key points Walsh hit in the 25-minute speech.

1. Expenses at an all-time record high – Despite projecting a record year for revenue of almost $1 trillion, expenses will also reach a record high of $936 billion totalling a net profit of $30.5 billion which Walsh described as “a major achievement” considering the recent context.

2. 2023 was the safest year “by many parameters” – Safety must remain the number one priority and the recent incidents of severe turbulence highlight why this must be at the forefront of every decision. Walsh described this as a continuous effort, saying “we never stand still.”

3. Importance of modernising business practices – The industry must continue to embrace digitalisation and improve operational processes.

4. Sustainability – Sustainable Aviation Fuel (SAF) is “our biggest decarbonisation lever to 2050,” but  decarbonisation will require many levers. Governments must work with the industry to build an effective policy framework and have to facilitate the scaling up of SAF. Also, when it comes to sustainability, successful approaches can and should be replicated, “there are no copyrights on successful measures.”

5. The Single European Sky (SES) had too much promise to end its journey here. It is an example of how political agendas can de-rail progress but “we will keep pushing.”

6. Global standards are critical and going “rogue” on them has the potential for “retaliatory mess.”

IATA have uploaded the full, 25-minute address online – watch it here. To hear live from Walsh, join us at the World Aviation Festival (8-10th October) where IATA’s Director General will be joining thousands of industry executives to catalyse innovation in the industry. Book your ticket now.

 

Earlier articles for further insights from Walsh: