The International Air Transport Association (IATA) has announced that the upcoming 2018 World Financial Symposium (WFS) will focus heavily on strategies for supporting the sustained financial health of airlines.
2018 will mark the ninth consecutive year of industry profits, but rising costs are expected to see earnings drop from $38 billion in 2017 to $33.8 billion in 2018, making this year's WFS—held at the Marriott Auditorium Hotel & Conference Center in Madrid, Spain from September 19-20—particularly significant.
This year we are being truly tested, with fuel prices being up as much as 60% over the past year. Now more than ever, a High-Performing Financial Organization is crucial to align airlines behind financial targets
“The last few years have demonstrated that aviation is capable of delivering required levels of financial performance," said Aleks Popovich, IATA’s Senior Vice President, Financial and Distribution Services.
"That said, this year we are being truly tested, with fuel prices being up as much as 60% over the past year. Now more than ever, a High-Performing Financial Organization is crucial to align airlines behind financial targets.
"WFS is the forum for aviation finance professionals to come together to discuss and debate the challenges to achieve sustainable financial health.”
The opening plenary will include sessions on a Strategic Roadmap in Supporting Sustained Airline Financial Health, How Digital Transformation is Changing the Airline Landscape, and fireside chats with key industry leaders.
A 'High Impact Seminar' for senior airline executives and industry partners is also part of the packed schedule, along with the returning Jam Session, while the second annual Global Fraud Prevention Event takes place prior to the WFS at the same venue.