Speaking in Vancouver at IATA”s (Air Transport Industry Association) 63rd Annual General Meeting, CEO Giovanni Bisignani (pictured), launched a full-blooded attack on the world”s airports singling out Bangkok, London and Paris as top of his special hit list.
”Combined they grabbed US$1.4bn [”702.5m] in increases from the industry in 2006. This is outrageous and I will continue to embarrass them with figures and facts.”
Bisignani claims that there is a long list of airports with margins of more than 40% including Sydney, Auckland, Hong Kong, Seoul and Johannesburg. ”I could go on but hands up: who in this room has reported a 40% margin to their shareholders? I don”t see many hands.”
Speaking to an extremely sympathetic audience, Bisignani was clearly in a mood for attack: ”Airlines live in a competitive world and commercial discipline is our regulator. Airport regulators are phantoms.”
As an example, he highlighted the performance of Jacques Barrot, VP of the European Commission and commissioner responsible for transport and energy.
”Last year in Paris, vice-president Barrot promised a directive on airport charges. He delivered a draft in January requiring national regulations across Europe. This is progress but it has no cost efficiency targets. We need a directive with real teeth.”