International BusinessIATA names Pacific Airways CEO as its Chairman
The International Air Transport Association (IATA), a trade body representing some 230 airlines worldwide today named Cathay Pacific Airways CEO Tony Tyler as the Chairman of its Board of Governors.
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Tyler succeeds Samer Majali, CEO of Royal Jordanian Airlines, who served as Chairman from June 2008. The 32-year veteran of the air transport industry, has served as Cathay Pacific CEO since 2007.
Tyler takes on as IATA Chairman at a time when the airline industry works to weather a global economic recession, which has affected passenger and cargo demand.
"The global economic meltdown is hitting the aviation industry hard. A toxic combination of low fares, a large drop in premium travel, and weak cargo loads is hitting the bottom line hard. IATA has some critical roles to play," Tyler said.
"It must protect the $350 billion in industry cash flowing through its financial systems. It must also find even more efficiency gains — not just by airlines but throughout the industry value chain," he said.