;"The decision of the Board of the Geneva International Airport to abandon plans to raise its passenger charge and to work with IATA to identify cost-reduction opportunities is an important step in the right direction," said Giovanni Bisignani, Director General and CEO of the International Air Transport Association (IATA).

A series of intense consultations between Geneva Airport and IATA saw the airport's Board make three key decisions today: (1) to not increase the airport's passenger charge in 2004, (2) to abandon a complicated incentive scheme for passenger charge rebates and (3) to work with IATA on ways and means of reducing the airport's cost of operation for airlines. "IATA's efforts over the past months have paid off and we are on the way to building a stronger partnership between the airport and its airline customers," said Bisignani.

IATA will continue to closely monitor the airport's plans to redevelop Terminal 2 as a low-cost terminal. "We have made it crystal clear that IATA will not accept any situation that sees the cross-subsidization of a redeveloped T2 with revenues from T1," said Bisignani.

"I am optimistic. In the spirit of partnership that developed during our consultations, IATA will work closely with Geneva Airport to identify ways to reduce costs for all airlines. An effective air transport sector is the cornerstone of Geneva's economy and essential to its mission as a global meeting place. Working together, airlines and the airport can contribute significant benefits to the region's economy," said Bisignani.