ISTAT Jetrader - Winter 2019 - 28

Here in Europe, we can routinely find flight bargains
that offer absurdly low-priced opportunities to spend short
breaks in cities or at resorts. If we are increasingly traveling
almost for the sake of it, there is a price that is being paid by
our environment.
I have no argument with enabling new generations of
travelers to fly in emerging markets; this is clearly lifestyle
changing and a positive trend that also helps to develop
economies. But, in the developed world, we all need to be
thinking more carefully about what we should be prepared to
pay for our leisure trips, rather than how little we could pay.
We as an industry must keep control of the narrative and
speak up for what we have been doing and are continuing to
do to improve our impact on the planet. And we must continue
to explore and invest in new technologies to ensure that our
industry is sustainable over the long term and is not beaten
up and ground down by governments and public opinion.
The recent issues with Boeing and the FAA around the 737
MAX have highlighted a worrying level of complacency in our
industry around the core value of safety that is central to the
routine operation of airlines and the continued health of the
industry. Air travel remains by far the safest means of mass
transportation, yet for the first time in perhaps 40 years there is
a widespread narrative around the inherent safety of aircraft.
Passengers must have absolute confidence in the
aircraft that they will fly in and implicitly must also trust the
manufacturers and the regulators to keep safety paramount.
It will be important that the readmission of the MAX to airline
operations is achieved in a coordinated manner across all of
the regulators.
2019 has seen both of the major OEMs experience a
major slowing of new orders, which, when combined with
an elevated level of cancellations, has taken them into an
unprecedented negative net order situation, with a combined
total of minus 36 commercial airliner orders booked up to the
end of August.
I hope, though, that the recent trend of orders and
cancellations combined with less bullish economic indicators
and multiple sources of market uncertainty will persuade
the OEMs not to push ahead with plans for any further
rate increases.
In summary, we as an industry are transitioning from a
prolonged period of stability, growth and profitability into a
more uncertain future, where multiple external threats make
planning and decision making more challenging than ever.
The impending economic downturn and any surges in
fuel price may result in bad news in the shorter term but are
issues that we have experienced and survived before and
will surely do so again. This industry is no stranger to threats
and challenges, and I am confident that we will continue
to embrace the changes that we can see coming, as well
as those that remain hidden, and to deal responsibly with
the future.
28

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ISTAT Jetrader - Winter 2019

Table of Contents for the Digital Edition of ISTAT Jetrader - Winter 2019
