Qatar Airways Hosts Global Aviation Symposium
Date
9/21/2022 2:02:03 AM
(MENAFN- Bangladesh Monitor)
Under the patronage of His Excellency Mr. Jassim Bin Saif Al-Sulaiti, Minister of Transport. Qatar Airways will host the biggest gathering of the Aviation industry's financial leaders since before the start of the COVID-19 pandemic.
Following the hugely successful IATA Annual General Meeting (AGM) and World Air transport Summit (WATS) held in Doha last June, the most attended AGM in the Middle East in history, the IATA World Financial Symposium (WFS) will take place on 19-22 September 2022.
As the industry comes out of the greatest financial shock on record, numbers indicate a rapid emergence from the pandemic following the removal of government-mandated travel restrictions over the past two years. Industry losses are expected to fall to $9.7 billion this year, improved from nearly $180 billion in losses over the previous two years (2020-21).
As travel barriers fall in most regions, a recent surge in demand suggests a recovery to pre-COVID-19 traffic levels in 2024, with a possibility of reaching profit in 2023.
At the same time, airline debts have soared as carriers borrowed to stay afloat during the crisis. Finance departments across the industry will face major challenges as the goal to fly net zero by 2050 approaches.
Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker said:“We are honoured to be hosting the first in-person World Financial Symposium since 2019, especially during our milestone year, celebrating 25 years of operations. This vital symposium will bring together financial leaders from airlines and from our many supply chain partners to discuss and debate the path forward and the challenges to be overcome.”
Willie Walsh, IATA's Director General, said,“We are excited to bring the World Financial Symposium to Doha for the first time. As the industry continues to recover, the role of finance in rebuilding balance sheets and supporting our sustainability agenda will take center stage in the important discussions taking place over the next few days.”
Earlier in June 2022, Qatar Airways hosted over 1,000 delegates and aviation leaders from across the globe at the industry's biggest annual event, the 78th International Air Transport Association (IATA) Annual General Meeting and World Air Transport Summit (WATS).
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