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Financing Air Cargo: An Uphill Battle?
Financing Air Cargo: An Uphill Battle?
June 5, 2008
It comes as small surprise that a learned statesman like Giovanni Bisignani -- Director General and CEO of The International Air Transport Association (IATA) -- would use classic mythology to explain a current crisis. One might have expected, however, that he would reference phoenix rising from the ashes, or Icarus flying too close to the sun. He chose instead to compare today’s airline industry to Sisyphus, whose fate was to perpetually push a huge stone up hill.
In the State of the Industry address at IATA’s 64th Annual General Meeting and World Air Transport Summit in Istanbul, Turkey, Bisignani declared “We must communicate clearly to governments the dimension of the oil crisis (and) the potential impact on the global economy if the air transport industry fails.”
He’s calling for drastic action now, before it’s too late. This includes having governments ease up on taxation. Instead, he wants them to develop universal regulatory policies and to seek more cooperation from labor to keep airline costs down.
Air cargo shippers recognize this as a grand and noble gesture. But while we all wish to be stoics like Sisyphus, we are also skeptics
Posted by Patrick Burnson on June 5, 2008 | Comments (0)
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