Welcome reprieve for airlines as they gather for Iata AGM

Singapore

AS some 1,000 aviation industry insiders, media and delegates gather for the 72nd International Air Transport Association (Iata) annual general meeting and World Air Transport Summit in Dublin this week, they do so with much to cheer about.

For a fragile industry whose fortunes have often been compared to Sisyphus - the Greek mythological king condemned by the Gods for eternity to repeatedly roll an immense boulder up a hill, only to watch it roll back down - it is time to sit back and enjoy some clear skies. Fuel price is at its lowest in over a decade, the risks of external shocks are low, efficiency gains have helped expand margins, and return on investment has increased to its highest levels in a decade.