The CEO of Qatar Airways warns that the aviation industry is at risk due to the current conditions
DOHA, Sept. 21, 2022 (Xinhua) Qatar Airways Group CEO Akbar al-Baker on Wednesday warned that the global airline tourism industry would be at risk if the current mix of economic and political conditions continued.
During the World Financial Symposium for 2022, organized by the International Air Transport Association (IATA) in Doha, Al Baker explained that there are a number of challenges associated with these situations and policies, such as high taxes and a lack of sustainable aviation fuel production.
He added that among those challenges are improving fuel efficiency, energy transmission and the lack of human talent needed to manage aviation sustainability.
He referred to the General Assembly meeting held in Doha last June to discuss the most prominent and important challenges on the scene, which is the ability to withstand and continue following the new Corona virus disease (Covid-19).
He stated that despite these challenges, air travel shows signs of recovery, noting that there is a need to face the many challenges that still exist in re-growth and achieving its social and economic potential.
He cautioned that while the sector recovers, the collective goal of achieving net-zero carbon emissions by 2050 will require a collaborative effort across the industry.
He stressed that the aviation industry is fully committed to making net carbon emissions “zero”, and that airlines around the world are already taking a wide range of measures to reduce aviation emissions.
He called not to blame the aviation sector as the main cause of global warming, because it contributes less than 3 percent of the total carbon emissions, while the fuel production companies do not produce sufficient quantities of sustainable aviation fuel.
Al Baker identified key points to support the recovery of the aviation industry, including the optimal management of financial resources and a strong focus on fuel efficiency, considering that addressing climate change requires a decisive partnership with governments around the world, and that there is a lot that politicians can do in this regard.
The Global Financial Symposium, hosted by Qatar Airways, will be held on September 21-22, with the participation of more than 50 speakers from experts in the aviation and financial sector, to discuss strategic issues related to the financial outlook and future sustainability of the aviation sector.
The symposium focuses on reshaping the resilience of the aviation sector in the world, in the period of recovery from the repercussions of (Covid-19) and the restrictions imposed by governments on travel activities over the past two years.
According to Qatar Airways, expectations indicate that the sector’s losses may decline to $9.7 billion this year, following recording regarding $180 billion in 2020 and 2021.
Qatar Airways stated that the abolition of restrictions imposed in most countries led to an increase in the demand for travel, and therefore it is expected in 2024 that the aviation sector will return to pre-Covid-19 levels, with the possibility of achieving profits during the year 2023.
She pointed to the high levels of airline debts due to the fact that they were forced to borrow to be able to overcome this crisis, which made financial departments in the aviation sector face many challenges, while the sector is trying to achieve its commitments to reach net zero emissions by 2050.
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