IATA: Giovanni Bisignani puts aviation growth in perspective

摘要

Our optimism has grown throughout the year. And the profit of $ 15.1 billion is certainly good news for an industry that lost $51 billion between 2001 and 2009. But let's put that good news into perspective. First, let's understand what this means to investors. Our margins are still pathetic. Industry revenues will be $565 billion. Our $15.1 billion profit is a 2.7% margin. If airlines were charity organisations, this would be a great result. As a business, it clearly shows that we remain a sick industry. We are not even recovering half the cost of capital which is 7-8%.