The worldwide financial crisis has increasingly become a global economic crisis, with big impact on air transport and all its actors. Because of the derived character, the air transport sector has been clearly affected by the decrease of international economic activity, industrial production and trade. Within the transport sector, air transport turned out to be more sensitive than other modes. Some have recovered better than others, some are still struggling for survival.
The consequences of this crisis for the air transport sector became clear:
- a strong decrease of transport demand because of less transported passengers and goods;
- a dramatic reduction of supply (e.g. through bankruptcies and reduction of frequency);
- changed transport flows (e.g. through mergers of routes and loops);
- lower company profits and a dramatic worsening of companies’ financial situation;
- changed strategies.
It is therefore important that any new developments in air transport should be acknowledged as soon as possible. This colloquium is intended as a platform to enhance this process. In a series of presentations, a number of key elements for success and failure are discussed in detail, whereby attention is devoted to all the major players in the air transport industry. Some possible scenarios for the mid-term development of the air transport sector in relation to possible developments of the general economic situation will be discussed.
Selected academics and market players have been invited to present lectures on the following crucially important topics:
- Critical issues in the post-crisis air transport
- Expected climate change effects on the air transport sector
- Wealth destruction and demand for air travel
- Pricing issues reconsidered: from ATC to airlines
- Strategies of a non-alliance airline
- Future air strategy of a smaller, niche network alliance partner