Global airlines body the International Air Transport Association (IATA) today asked world governments to make aviation a part of their overall economic strategy, desist from imposing additional taxes and create an environment for the sector to grow stronger.
The IATA, which released its latest industry financial forecast today, estimated that global airlines would earn a net profit of $6.9 billion, with those from Asia-Pacific region likely to contribute the most by earning $2.5 billion.
"As governments seek to re-start troubled economies, a strategic approach to aviation policy would deliver broad economic benefits. Every plane that takes off is a catalyst for economic growth and prosperity," IATA Director General and CEO Tony Tyler said while releasing the report in Singapore.
Observing that time and again aviation has shown its resilience to all kinds of challenges, he said it was important for governments to focus on aviation policy as part of their overall economic strategy.
"Not to tax us and add even further burdens but to set an environment for aviation to grow stronger and provide opportunity across all sectors of the global economy dependant on connectivity. The governments must carefully evaluate the negative impact of the current high levels of taxation, absolutely resist increases or new taxes, and develop policies that support aviation's growth with efficient infrastructure," Tyler said.
While the IATA upgraded its June global industry profit estimates from $four billion to $6.9 billion, it said Asia-Pacific would deliver the most to the industry's total profit with a net return of $2.5 billion.