The airline industry has been severely impacted by the COVID-19 crisis in terms of passenger and ticket sales volumes. This impact has highlighted the critical role that strong airline finance and payment strategies will play to support a sustainable industry.
It also accelerated the transformation of the payment landscape by influencing a change in customer behavior via the introduction and implementation of new technologies supporting new methods of payment.
At the Financial Think Thank launched in 2021, the team focused on brainstorming and designing ideas with the aim of helping airlines prepare for the payment and finance transformation journey.
Two main ideas came out of this exercise:
These are addressed in detail within this paper (pdf), while two videos accessible on IATA’s dedicated webpage give an overview for each of them. In addition, both videos feature a panel discussion in which the Think Tank participants discuss the outcome of each idea.