The 67th IATA AGM heard the conclusions of the Vision 2050 discussions on building a sustainable future for the industry.
Aviation’s foremost strategic thinkers gathered in Singapore earlier this year, led by Minister Mentor Lee Kwan Yew.
Facilitated by Harvard’s Prof. Michael Porter, the discussions focused on profitability, future customer needs, infrastructure developments and technologcial advancements.
To improve on the industry’s average 0.1% margins over the last 40 years and handle the 16 billion passengers and 400 million tonnes of cargo anticipated in 2050, the group concluded that :
- Stronger partnership across the value chain is required to rebalance financial rewards and risks.
- Airlines must prepare to market their product to an ever more diverse customer base.
- Governments must be convinced to re-organise airspace according to functionality rather than sovereignty.
- Great potential exists for improvements in aircraft environmental performance, efficiency and capacity; airlines need to reach consensus on what should be prioritized.
Full Vision 2050 Report (pdf)