Airlines: “write off” 2009 – World Air Cargo Event
That’s according to Stan Wraight, the chair of the opening panel session at the event just held in Bangkok:
His advice for chief executive officers was to be optimistic and to assume that the “bottle of wine is half-full not half-empty” but to also be realistic. “They will have to make some tough decisions this year, which may include having to get rid of some employees, automate some processes and invest in areas that they wouldn’t normally think of investing in.”
While 2009 may have to be forgotten about for making a profit, he advised, it is vital to prepare for 2010 and be ready to take immediate advantage of opportunities when the market recovers next year.
Good luck with that. I have a bad feeling the air cargo industry is in for a prolonged downturn. Many companies that are or will be switching to ocean freight to cut costs will find it difficult from a cost perspective to return to air freight. Some of them are making significant changes in their supply chains that may not take air cargo into account at all.
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