Hello from Geneva where I am attending the IATA Media Days to get a sense of what is going to be new in the world of aviation and passenger experience. But before I even get there, the hallmark of the industry body’s annual media days is their global economic outlook, which tells us all about how good or bad things could be going forward.
At the outset, IATA lowered the estimate of the aviation industry profitability this year to USD 25.9 billion globally, USD 2.1 billion lesser than its own prediction in June 2019 and about USD 10 billion lesser than its forecast from a year ago at USD 35.5 billion dollars. Some of the factors contributing to this are events such as geopolitical tensions, social unrest and the uncertainty around Brexit. Not just that, there is a huge question mark on the return of the 737 MAX.