Key points from our mid-year report on airline industry economic performance
•Consumers benefit from lower oil prices with lower fares, more routes, and spend 1% of world GDP on air transport.
•Economic development big winner from the doubling of city pairs and halving of air transport costs in past 20 years.
•Governments gain substantially from $116bn of taxation this year and from more than 58 million ‘supply chain’ jobs.
•Equity owners see a far better 2015 with a 7.5% average airline ROIC, above the cost of capital for the first time.
•Fuel use per ATK to fall a further 1.5% y-o-y, saving 11 million tonnes of CO2 emissions and $3 billion of fuel costs.
•Load factors forecast to stabilize as capacity rises; new aircraft deliveries represent a $180 billion investment.
•Jobs in the industry should reach 2.5 million, productivity will be up 3.2% and GVA/employee almost $97,000.
•Infrastructure use costs are rising, plus inefficiencies in Europe alone add 2.9bn euro to airline costs this year.
•N American region performs best with a 7.5% net post-tax profit margin in 2015. Africa weakest at just 0.8%