More than 900 aviation executives and media have descended on the Mexican resort city of Cancun eager to get the latest insights on the future of an industry facing an uncertain geopolitical picture, a few jittery economies and how airlines are responding to the recent actions from the United States on passenger security.
The International Air Transport Association (IATA) annual general meeting begins on Sunday evening (Mexico time), kicking off two days of speaker panels and discussions on the pressing issues of the day.
“Hot topics will include finding alternative means to keep flying secure without the inconvenience of the current laptop ban, combating human trafficking, implementing the Carbon Offset and Reduction Scheme for International Aviation, and modernising air cargo processes,” IATA director general and chief executive Alexandre de Juniac said in a statement.
“Cancun will be the capital of air transportation as aviation leaders gather for the 73rd IATA AGM and World Air Transport Summit. The airline industry’s most senior leaders will work together to address air transport’s most critical issues.”
IATA will also publish its latest profit forecast for the airline industry.
In December, IATA said it expected airlines around the world to post a combined net profit in 2017 of US$29.8 billion for calendar 2017 on total revenues of $736 billion, representing a 4.1 per cent net profit margin.
The traditional chief executives panel features United’s Oscar Munoz, Malaysia Airlines’ Peter Bellow, Volaris’s Enrique Beltranena and Rickard Gustafson from SAS Group. CNN anchor Richard Quest is the moderator.
IATA, which represents the world’s airlines, has about 275 carriers as members covering about 83 per cent of global air traffic.
