Airlines Move Forward With New Tracking System as IATA Backpedals on Fiscal Forecast
Erica Berardi June 05, 2015
IATA airlines are set to begin testing a new tracking system while the trade group plans to revise its ambitious fiscal forecast.
Tony Tyler, CEO of the International Air Transport Association (IATA), announced Thursday that airlines will soon begin testing a new tracking system designed to ping flights every 15 minutes. Testing will be conducted in the Asia-Pacific region and should conclude by fall of this year.
“The plan is that there will be some sort of 15-minute reporting,” Tyler said, speaking before the opening of IATA’s annual conference in Miami Beach. “How it will work will be very much influenced by this implementation initiative that’s going on.”
The results of the test will help create a uniform set of rules to propose to governments and transportation industries worldwide. IATA, which promotes safe, efficient and economical air transport, represents 250 airlines around the world, representing 83 percent of global air traffic.
In December, IATA forecast airlines would garner $25 billion profit this year on revenues over $700 billion. During the “curtain raiser” portion of Thursday’s conference, however, Tyler announced that IATA would revise its fiscal forecast Monday.
“With returns at that level we are not covering our cost of capital,” said Tyler, going on to note that cargo transport saw growth slowing to 3.3 percent in April over the previous year. “A key element behind that performance is slower growth in China. And the broad implication is that trade growth is slowing. That should be sending some warning bells to governments who are pursuing protectionist policies.”
According to Tyler, passenger business expanded 5.9 percent in April over the previous year due to multi-faceted performance. Asia Pacific and the Middle East reported growth above the industry average: Asia Pacific up nearly 11 percent and the Middle East up 7.7 percent. Meanwhile, North and Latin America and Europe saw growth between 3 percent and 5 percent. Demand in Africa fell 2.5 percent year-over-year.
Tyler’s speech can be read in full here.
[Photo: IATA]
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