LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

IATA warns airlines headed for crisis on rising infrastructure costs

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
IATA warns airlines headed for crisis on rising infrastructure costs
A hostess stands near IATA logos during an IATA meeting in Cancun. Image source: Reuters
Updated: Mon, Feb 05, 2018
12:01 pm
Reuters
RELATED NEWS
Jewar airport news update: Letter of Agreement signed! What you need to know about Noida International Airport Jewar airport news update: Letter of Agreement signed! What you need to know about Noida International Airport
Super hi-tech driverless pod taxis for Noida Aiport! Check Yogi Adityanath government's big plans for Jewar Super hi-tech driverless pod taxis for Noida Aiport! Check Yogi Adityanath government's big plans for Jewar
Feasibility study! Bangalore International Airport Limited (BIAL), Virgin Hyperloop sign MoU Feasibility study! Bangalore International Airport Limited (BIAL), Virgin Hyperloop sign MoU
Big revamp on cards for Veer Savarkar International Airport, Port Blair - Why it's shot in arm for Indian Aviation sector Big revamp on cards for Veer Savarkar International Airport, Port Blair - Why it's shot in arm for Indian Aviation sector
IGI Airport exploring alternative solutions for green energy IGI Airport exploring alternative solutions for green energy

The growing cost of airport infrastructure poses risks to the global airline industry`s profitability and growth, the head of the International Air Transport Association (IATA) said, adding a crisis due to inadequate infrastructure was brewing almost everywhere in the world.

"We are headed for a crisis... Infrastructure in general is not being built fast enough to meet growing demand," Alexandre de Juniac, CEO General of IATA, an airline industry lobby group, told a conference on Monday ahead of the Singapore Airshow.

He said airport privatisation is among major reasons driving cost rises when the industry needs affordable infrastructure to accommodate capacity increases.

"Our members are very frustrated with the current state of privatised airports. By all means invite private sector expertise to bring commercial discipline and a customer service focus to airport management. But our view is that the ownership is best left in public hands," de Juniac said.

He cited the proposed 14 billion pounds ($19.8 billion) cost of a third runway at London`s Heathrow Airport and the development of a fifth terminal at Singapore`s Changi Airport as cases where it was crucial that costs were kept under control.

"We must pay attention to these costs from the beginning," de Juniac said. "We would like to avoid big projects in which we see overruns because the infrastructure is fantastic but it is very costly."

He said Asia Pacific needs to make much faster progress to address bottlenecks, and that some big cities such as Jakarta, Bangkok and Manila are in desperate need of capacity improvements.

Global airline profits are expected to rise to a combined $38.4 billion this year, according to IATA forecasts, but net profit margins at 4.7 percent remain low by the standards of other industries.

"Our exuberance is limited," he said.

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
airportairport infrastructureGlobal airline industryProfitabilitygrowthInternational Air Transport AssociationIATA
RELATED NEWS
Jewar airport news update: Letter of Agreement signed! What you need to know about Noida International Airport Jewar airport news update: Letter of Agreement signed! What you need to know about Noida International Airport
Super hi-tech driverless pod taxis for Noida Aiport! Check Yogi Adityanath government's big plans for Jewar Super hi-tech driverless pod taxis for Noida Aiport! Check Yogi Adityanath government's big plans for Jewar
Feasibility study! Bangalore International Airport Limited (BIAL), Virgin Hyperloop sign MoU Feasibility study! Bangalore International Airport Limited (BIAL), Virgin Hyperloop sign MoU
Big revamp on cards for Veer Savarkar International Airport, Port Blair - Why it's shot in arm for Indian Aviation sector Big revamp on cards for Veer Savarkar International Airport, Port Blair - Why it's shot in arm for Indian Aviation sector
IGI Airport exploring alternative solutions for green energy IGI Airport exploring alternative solutions for green energy

LATEST NEWS

KVS Admission List 2021-22: Provisional selection list for class 1 to be released today POSTPONED, revised date to be notified on kvsonlineadmission. kvs.gov.in soon - check details here

CBSE Board Exam 2021 Class 12: Students DON'T MISS this LATEST UPDATE on REVISED DATESHEET - check all details here

Gold Price Today, April 23: Check rates in Mumbai, Delhi, Chennai and Lucknow

Titagarh Wagons has an order book of Rs 4,500 crore: Umesh Chowdhary

Google searches for oxygen cylinder, Remdesivir skyrocket in India! Check all details here

Are you a PM-Kisan Samman Nidhi Yojana beneficiary? Did you get your Rs 2000 installment?

Stocks in Focus on April 23: Indus Tower, Rallis, Lupin, Gland Pharma to Banks; here are the 5 Newsmakers of the Day

Beware! Free internet? Viral message on social media offering internet for free is SCAM - Check full details here

Stocks to buy with Anil Singhvi: Sandeep Jain recommends Bharat Bijlee today - Big Money Tip

CBSE Class 10 Board Exam 2021 Result: BIG NEWS! Students DON'T MISS this LATEST UPDATE - all details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved