If the escalating price of fuel was the main talking point for the first half of 2008, it was eclipsed in the second half by the widespread realization of a worsening global economy and the increasing probability of recession.
With more than 30 airlines having gone out of business in 2008, I’d expect consolidation to play a key role in shaping the airline industry in 2009. To survive such challenging times, all businesses, not only carriers, will have to be lean and well-prepared for what is sure to be a very difficult year.
As such, I think those that will do best in 2009 will be carriers that are firmly focused on delivering outstanding customer service. From providing a consistently reliable and strong operational performance to developing innovative solutions that meet individual customer needs, delivering value-added services will be key in mitigating any difficulties that lie ahead.
While we will continue to improve our customer proposition throughout 2009, security will remain our top priority. The February deadline for screening 50 percent of all U.S. international airfreight is fast approaching, yet there remains a lack of consensus on which scanning devices are approved by the Transportation Security Administration. As an industry, we must have clarification, and soon, in order to balance compliance with these new security regulations and maintaining an efficient and effective service for our customers.
While few would argue that we have some extremely challenging times ahead of us, carriers that look at 2009 as an opportunity to improve their business and become a leaner, more profitable business for the long term will no doubt be the real winners.