Press Trust of India / Kuala Lumpur Jun 09, 2009, 14:04 IST
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.
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.
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