[SINGAPORE] The majority of airline chief executives are bullish that the industry will book higher revenues over the next one year, with growth strategies hinging on new and existing markets, innovation, as well as new joint ventures (JV) and alliances, according to a report.
Of the airline chiefs polled, 82 per cent are confident that the airline industry will chalk up heftier revenues over the next one year, a PricewaterhouseCoopers (PwC) survey showed. However, this number slipped slightly to 79 per cent when airline heads expressed their confidence about revenue growth for their own companies over the next 12 months.
Airline CEOs are also keeping a close watch on costs, with 69 per cent having implemented a cost-reduction initiative in the last year and 64 per cent planning to launch new measures in the next one year.
Last month, the International Air Transport Association (Iata) trimmed its industry forecast to project a combined net profit of US$18 billion for global carriers, on the back of revenues of US$746 billion.