IATA states international consolidation essential

IATA Director General and CEO, Giovanni Bisignani, stated international consolidation among airlines is essential to allow the industry to move forward (Dow Jones, 25-Aug-2010). He commented that consolidation among airlines in the US and Europe has boosted profitability. Mr Bisignani also stated that the Asia Pacific region has become the world's foremost aviation region and the "worst is over" for the international airline industry, following the global financial downturn.

IATA: "We need transatlantic consolidation to become a more integrated and global industry," Giovanni Bisignani, Director General and CEO. Source: Dow Jones, 25-Aug-2010.