AIRTRANSPORTANNUALREPORT2012 - Archive
AIRTRANSPORTANNUALREPORT2012 - Archive
AIRTRANSPORTANNUALREPORT2012 - Archive
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FOREWORD<br />
Airtransportaonaroundtheglobeconnuedtore<br />
coverinfiscalyear2012,whichresultedintheairline<br />
sectorexpecngacollecveprofitfor2012.However,<br />
profitsfor2012areexpectedtobelessthanhalfthe<br />
US$8.4 billion that the industry earned in 2011.<br />
Growth,nevertheless,variesgreatlybetweenregions.<br />
Negaveorflatgrowth,resulnginlossesforairlines,<br />
hasbeenexperiencedinEurope,whileNorthAmeri<br />
canshowssignsofrecovery.Inemergingmarkets,the<br />
Middle East and Lan America connue their solid<br />
expansion,followedbyagooddevelopmentinChina,<br />
andoverallAsiaPacific.Africarecoveredfromitsde<br />
cline in 2009, and shows modest but sustained<br />
growth.Themainchallengesoftheindustryconnue<br />
to be the high oil price and a slow global recovery.<br />
Airlinesarefocusingonreducingcostsandincreasing<br />
eciency. Air cargo experienced connued declining<br />
freight volumes, suggesng a slowdown in global<br />
tradepairedwithsomepossiblemodalshiintrans<br />
portaonservices.<br />
Theoutlookfortheindustry,ontheotherhand,con<br />
nues to remain posive for the medium and long<br />
term. The air transport industry collecvely sees<br />
strong connued growth over the next two decades<br />
resulng in a doubling of passenger trac by 2030.<br />
Worldpassengertracisforecasttogrowbyabout<br />
4.5percentinthatperiod,whichiswellovertheex<br />
pectedgrowthinworldGDPofanaverage3percent.<br />
Thestrongestdevelopmentisforecasttooccurinthe<br />
emerging markets of China and India, where<br />
passengertracisexpectedtogrowby78percent<br />
peryear.<br />
Despitethe posiveoutlook,growingconcernabout<br />
thesustainabledevelopmentoftheindustryisbeing<br />
voiced due to its dependence on aordable fuel<br />
costs, its challenge to reduce greenhouse gas emis<br />
sions,anditsvulnerabilitytorecessionsthathamper<br />
global trade. Behind this uncertainty, many large in<br />
frastructureinvestmentsinairportsorairtraccon<br />
trol systems must be launched early to meet an un<br />
certain future demand. If necessary investments are<br />
notmade,futureeconomicdevelopmentmaybeim<br />
pacted.<br />
The World Bank Group (WBG) will connue to sup<br />
portitsclientcountriesindevelopingasustainableair<br />
transportsector.Thedevelopmentfocuswillremain<br />
on the provision of safe, secure, and aordable air<br />
transport services, which secure global sustainability<br />
oftheindustrythroughgreengrowthofaviaon.The<br />
instruments of the WBG to support this growth are<br />
investmentprojectsinpublicorprivateairtransport<br />
projects, investments guarantees, policy advice to<br />
governments, advisory services and technical assis<br />
tance,andresearchprojects. <br />
<br />
Dr.CharlesE.Schlumberger<br />
LeadAirTransportSpecialist<br />
3
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