Air Transport Network Development and Challenges to East Asian Airlines and Policy Makers. Prof. Tae Hoon Oum.

Size: px
Start display at page:

Download "Air Transport Network Development and Challenges to East Asian Airlines and Policy Makers. Prof. Tae Hoon Oum. www.atrsworld.org"

Transcription

1 Prof. Tae H. Oum, Air Transport Network Development and Challenges to East Asian Airlines and Policy Makers Prof. Tae Hoon Oum President, The Air Transport Research Society (ATRS) UPS Foundation Chair of Transport & Logistics, The University of British Columbia, Canada *Some slides used in this presentation was adapted from Oum and Yamaguchi, the keynote presentation given at the Inauguration Ceremony of the ITPU at Tokyo University, December 15, 2005)

2 Prof. Tae H. Oum, Outline Global Economy and Air Transport Air Transport in East Asia: Present and Future Challenges for regulatory reform Goals for Regulatory Reform and A Proposal

3 Prof. Tae H. Oum, Global Economy and Air Transport

4 Economic Growth and Air Traffic Prospects Stable economic growth expected: global economies to continue to grow: 3-4% per year in average. Growth continues in most Asian countries, although significant differences in per-capita incomes will persist -World s air traffic will continue to grow in average 4-5% per year (passenger) and 5-7% per year (cargo) Prof. Tae H. Oum,

5 Prof. Tae H. Oum, International Trade Global trade to grow continuously; so will cross-border investments East Asia, now the manufacturing hub, and growth engine of world economy. China-Japan-Korea+ASEAN accounts for ¼ of global trade. East Asian free trade region may be realized some point in the future;

6 17,000,000 Global Trade (Export+Import) Global Trade $ million 15,000,000 13,000,000 11,000,000 9,000,000 2,817,849 (+165%) 834,250 (+174%) (18.4%) (5.4%) Japan+China+S. * Korea ASEAN Rest of the World 7,000,000 1,062, ,499 5,000,000 5,723,222 3,000,000 (15.0%) (4.3%) (80.7%) 11,684,848 (+116%) (76.2%) Source: World Bank Prof. Tae Oum, Sauder School of Business, UBC

7 Prof. Tae Oum, Sauder School of Business, UBC Growth exceeds GDP growth; Asia-Pacific expected to out-perform other markets Data Source: Boeing

8 Prof. Tae Oum, Sauder School of Business, UBC

9 Prof. Tae Oum, Sauder School of Business, UBC Mid to Long Term International Aviation Demand Forecast Agency ICAO IATA ACI FAA Boeing Airbus Period Pax Growth (%) Asia/Pacific Worldwide Cargo Growth (%) Source: ATRS 2006 presentation by Mr. Masahiko Kurono, President of Narita International Airport Authority, Japan

10 Global Trends in Air Transport Liberalization of international air transport will continue, via bilateral and/or multilateral process; But the regulatory system may have to move closer to the WTO approach: tying with trade liberalization; Cross-border investments in airlines to increase Low cost carriers will advance to short-/medium distance international markets EU single market and North American open skies market will continue to be integrated; Network airlines will benefit from multiple-hub airline systems and/or by linking up their networks with strategic alliance partners Prof. Tae H. Oum,

11 Global Trend in Air Transport cont d Regional Bloc formation: Continentalization EU market integration begun in Australia = New Zealand Single Aviation Market (Trans- Tasman) Arrangements initiated in In regional markets, LCCs have established their business model, starting from US, then in EU, and now in Asia. Challenges legacy carriers business model even in middistance markets. Large liberalized markets in US and EU have driven the industry to become pro-competitive and more efficient. Prof. Tae H. Oum,

12 U.S. Hubs United San Francisco, Chicago, Denver and Washington Prof. Tae Oum, Sauder School of Business, UBC

13 U.S. Hubs - Northwest & Continental (Northwest: Detroit, Memphis, and Minneapolis Continental: Newark, Houston and Cleveland ) Prof. Tae Oum, Sauder School of Business, UBC

14 Air Canada (Toronto, Montreal, Vancouver, Calgary) Prof. Tae Oum, Sauder School of Business, UBC

15 Air France and KML merger: toward multi-hub network first case after single market created in 1997 Prof. Tae Oum, Sauder School of Business, UBC

16 Prof. Tae H. Oum, Air Transport Network in East Asia

17 Prof. Tae Oum, Sauder School of Business, UBC Population and Intra-regional Passengers, 2004 (millions) China+Japan +S.Korea US EU15 Population 1, intra-regional passenger

18 Prof. Tae H. Oum, Air Transport in East Asia: Present and Future: East Asian networks have been shaped historically by restrictive bilateral ASAs; fragmented and inefficient single hub networks.

19 JAL Network; inadequate to serve Asian market Prof. Tae H. Oum,

20 KAL Network; inadequate to serve Asian market Prof. Tae H. Oum,

21 Major Chinese carriers have single hub networks; inadequate to serve Asian market Prof. Tae H. Oum,

22 Cathay Pacific network; inadequate as an Asian network carrier Prof. Tae H. Oum,

23 Prof. Tae H. Oum, Air Transport in East Asia: Future Carriers should eventually become pan- Asian and multi-hub airlines; - just as the U.S. carriers have shifted to multi-hub system after the deregulation (25+ plus network carriers integrated into 6 major networks); - Similar integration is slowly happening in the EU market

24 Air Transport in East Asia: Future: cont d Each carrier would keep their current hub airport, but will establish secondary hubs in different airports in other regions of Asia (benefits on cost side; market side; and growth prospects); These pan-asian network carriers would compete vigorously in most of the Asian markets. Prof. Tae H. Oum,

25 Intra-regionally: Japan has 10% of Chinese population Domestic RPK (Boeing, CMO, 2006) China billion 596 billion Japan/Korea Asian air transport networks to be largely shaped around Chinese market; Scandinavian countries: 10% of continental western Europe population; SAS is now being marginalized in Europe Prof. Tae H. Oum,

26 Forward Looking Policy is needed: Pan-Am and TWA once were sources of American pride; We need to look back what happened with Pan-Am, TWA and why? (US protected their international markets; Most of the US domestic carriers were not allowed to enter Int l market); Protection of carriers may help flag airlines in the very short-run, but may put them in jeopardy in the long run by mortgaging their future! Prof. Tae H. Oum,

27 An Example of Asian Multiple Hub Carrier -1 Seoul, Shanghai and Hong Kong Prof. Tae Oum, Sauder School of Business, UBC

28 An Example of Asian Multiple Hub Carrier -2 Tokyo, Beijing and Singapore Prof. Tae Oum, Sauder School of Business, UBC

29 Prof. Tae H. Oum, Emerging Issues for Air Transport in East Asia (1/3) How should the air transport system be designed to serve the intensifying intraregional trade and economic integration taking place in the region? International air accessibility and airline network patterns will influence the long-run economic geography of East Asia. Policy makers should provide business environment within which regional air transport networks develop with an overall network efficiency in mind.

30 Prof. Tae H. Oum, Emerging Issue for East Asian Air Transport (2/3) Recent EU-US Trans-Atlantic Single Aviation market proposal, if ratified, would have a profound impact for the world s air transport industry Stronger competitive forces would make air carriers on both sides of the Atlantic to be far more efficient and competitive than Asian carriers (whose productivities are already much lower than U.S. or most European carriers)

31 Prof. Tae H. Oum, Emerging Issues for East Asian Air Transport (3/3) Major barriers to Air Transport Liberalization: Differential capabilities between flag carriers of different countries (more on this in next slides); Relatively easy to see who wins and who gains when liberalize the bilateral markets, especially in the short run; Nations tend to equate the gains/losses of flag airlines as the national gain/losses. Government policy makers and negotiators are closer to vested interests (airlines) than consumers or national economic interest.

32 Prof. Tae H. Oum, Japan But in recent years, Japanese carriers (especially JAL) has not performed as high growth as other Asian carriers, mainly because of their high unit cost situation; Japanese carriers are having to purchase much of their inputs from high-cost Japanese sources. Regional market integration would provide airlines with opportunities to source inputs from optimal location.

33 China Strongest and major growth market in the world. Problem for the industry is how to secure modern management skills and human resources; They feel they are less competitive than competitors Sharp difference between highly developed coastal regions and underdeveloped inland areas poses serious political problem. Some carriers will create secondary hubs in interior and western regions of China.. Prof. Tae H. Oum,

34 Prof. Tae H. Oum, Figure 5b China's Export by Country of Destination other 4% North America 22% Asia 52% Latin America 3% Europe 19%

35 Prof. Tae H. Oum, Figure 5a China's Imports by Country of Origin other 5% North America 12% Europe 20% Asia 60% Latin America 3%

36 Prof. Tae H. Oum, S. Korea At the moment, Korean carriers are in the most advantageous position among the three countries. Development as East Asian logistics/distribution hub similar to Netherlands and Singapore is in progress, although they fight uphill battle against Shanghai and other Chinese ports. Trade and transport liberalization important for the success of Korea s regional logistics hub initiatives. Although their optimal policy is really Singapore-style open skies policy with all major countries, their bilateral ASA process continue to be influenced heavily by flag carriers.

37 Prof. Tae H. Oum, Challenges to regulatory reform: - Effects of Current Regulatory Framework - Challenges to Regulatory Reform

38 (A) Effects of Current Regulatory Framework Bilateral Air Services Agreements (ASAs) require the airlines designated to serve on international routes be majority owned and controlled by citizens of the country; Bilateral ASA processes are too heavily influenced by flag carriers; leading to capacity/market sharing between the bilateral carriers in most markets, against the interest of consumers and overall economic interest of the nation. Prof. Tae H. Oum,

39 Prof. Tae H. Oum, Current Regulatory Framework and Effects cont d Domestic markets and international markets are regulated separately without an explicit coordination between the complementary networks (Domestic markets are reserved solely for own carriers); Since China has a very large domestic market, in the long run Chinese carrier network patterns will be largely shaped by the needs for efficient collection and distribution of domestic traffic.

40 Prof. Tae H. Oum, Current Regulatory Framework and Effects cont d Current system offers limited growth opportunities to Asian airlines, and has prohibited development of efficient multiple hub networks by Asian carriers No airline in Asia is truly an Asian carrier having an effective coverage of Asian markets

41 Prof. Tae H. Oum, (B) Challenges for Regulatory Reform - (1/2) Negotiators are charged to protect/enhance national interest. But, policy makers and negotiators influenced too heavily by the vest interests (flag airlines); The misguided notion flag carriers interests equal the national interest that many governments hold are probably the most serious barrier to liberalization. As a result, those governments and negotiators, in fact, work against the true economic interest of the nation for whom they are doing negotiations. creating negative sum bilateral games.

42 Prof. Tae H. Oum, Challenges for Regulatory Reform - (2/2) Such mis-guided action on national interests (myopic world) lead negotiators to turn the bilateral negotiations into a non cooperative game; They are driven to protect the markets where national carriers may lose, and to expand traffic rights for the flag carriers in the markets where their flag carriers can win (Mercantilistic approach existed in the 19 th century) In this myopic world, tough negotiators are respected despite the fact that in many cases, they fail to find positive-sum games via which both countries can increase economic pies.

43 Prof. Tae Oum, Sauder School of Business, UBC So how could we achieve a positive sum game? Consumer benefit; Other industry benefits Regional cooperation True Asian Carrier Dynamic competition Competitive edge against US and EU Vested interests National interest? Low risks Autonomy 一 般 管 理 費

44 Prof. Tae H. Oum, Goals for regulatory reform Long-run goal: East Asian single aviation market Medium term goal: Creating cross-border subregional (East Asian) Open Skies bloc, a stepping stone for Asian continent-wide crossborder open skies Short term: Rapid liberalization of the East Asian market

45 Strategy for Securing Positive-Sum Game in Northeast Asia Repeated/frequent interaction and common goal setting among different players can turn the negative-sum or zero-sum game into a positive-sum game. Such constructive approach would foster development of common grounds that may facilitate market integration. Therefore, it is important to formulate an institutional environment that encourages repeated interaction and common goal setting. Prof. Tae H. Oum,

46 Prof. Tae H. Oum, How do we achieve the staged liberalization? (1) Preliminary work needed (before any formal negotiation): Creating a transparent environment within which analysis are done and negotiations can take place: This will ensure that all parties can focus on creating positive-sum game. All costs and benefits of adopting specific stages of liberalization or open skies must be calculated and tabled; There should not be any hidden agenda by any country participating in the negotiation;

47 Prof. Tae H. Oum, Preliminary work needed cont d Clear understanding of who gains? what? and by how much?, and who loses, what? and by how much?, etc.; Negotiations will focus on sharing and distributing gains and losses. Also consider pooling of gains and loses between air transport, international trade and foreign direct investment (FDI) sectors

48 Preliminary work needed cont d Canada-US Open Skies Example: Negotiations focused on creating positive-sum game increasing size of the economic pie; Structural weakness of Canadian carriers were handled in two ways: US allowed Canadian carriers 3-years head-start in all US markets; U.S. carriers allowed phased-in entry into Toronto, Montreal, and Toronto markets over the three years; US gave Canadian carriers significant numbers of airport slots at congested airport like Chicago O Hare and Washington National. In the end, the political will of President Clinton and PM Chretien for open skies agreement played an important role Prof. Tae H. Oum,

49 Prof. Tae H. Oum, A Proposal Joint Study Team: An effective way is to set up a joint study team in which all necessarily studies are done ON VERIFIABLE DATA and in a very transparent way; The results are computed, verified, and tabled to all members of the three countries negotiation teams. This team will interact with the negotiators of each country to understand the benefits and costs to that country.

50 Prof. Tae H. Oum, A Proposal - (2/2) Establishment of a trans-national Committee consisting of governments, industries and academia would go a long way to foster close relationship, creating common grounds, finding positive sum approach, and phased-in agenda for negotiation. This Trans-national committee would set the research agenda for the trans-national study team proposed above

51 Prof. Tae H. Oum, Concluding remark It is about time for the East Asian countries government to seriously consider changing approaches to air transport policy in order to develop efficient regional air transport networks which also serves long term interests of the region and their own nation s economic benefits as well as of the long-term interest of their flag carriers

52 Prof. Tae H. Oum, Thank You 2007 ATRS World Conference: June; Univ of California-Berkeley ATRS Global Airport Benchmarking Reports 5 th Year

CANADA S GLOBAL OPEN SKIES AIR TRANSPORTATION REGIME

CANADA S GLOBAL OPEN SKIES AIR TRANSPORTATION REGIME CANADA S GLOBAL OPEN SKIES AIR TRANSPORTATION REGIME MAXIMIZING INTERNATIONAL ACCESS AND CHOICE TO CANADA S MARKETS While Open Skies implies a simplified environment, the business of air transportation

More information

Aviation Policy at 20 Years: Accomplishments, Challenges and the Need for Further Change

Aviation Policy at 20 Years: Accomplishments, Challenges and the Need for Further Change Aviation Policy at 20 Years: Accomplishments, Challenges and the Need for Further Change ATAC AGM 14 November 2012 Presentation by Gerry Bruno, Group CEO InterVISTAS Consulting 20 Year Accomplishments

More information

Air China Limited Announces 2014 Annual Results

Air China Limited Announces 2014 Annual Results Air China Limited Announces 2014 Annual Results Hong Kong March 26, 2015 Air China Limited ( Air China or the Company, together with its subsidiaries, collectively the Group ) (HKEX: 00753; LSE: AIRC;

More information

ACI Airport Statistics and Forecasting Workshop AVIATION STATISTICS & DATA: A VITAL TOOL FOR THE DECISION MAKING PROCESS Narjess Teyssier ICAO Chief Economic Analysis & Policy Section London, 3 rd March

More information

TIAC Position on Open Skies Policy in Canada Executive Summary: Points of Consideration for TIAC

TIAC Position on Open Skies Policy in Canada Executive Summary: Points of Consideration for TIAC TIAC Position on Open Skies Policy in Canada Executive Summary: Points of Consideration for TIAC As Canada is increasingly becoming a fly-to tourist destination, the country s air service agreements (ASAs)

More information

The Trans-Pacific Partnership and Asia-Pacific Integration: Brief overview. Peter A. Petri, Michael G. Plummer and Fan Zhai February 2015

The Trans-Pacific Partnership and Asia-Pacific Integration: Brief overview. Peter A. Petri, Michael G. Plummer and Fan Zhai February 2015 The Trans-Pacific Partnership and Asia-Pacific Integration: Brief overview Peter A. Petri, Michael G. Plummer and Fan Zhai February 2015 Bottom line The TPP is important: Asian and Trans-Pacific trade

More information

New Zealand s international air transport policy discussion document - Tourism New Zealand comments

New Zealand s international air transport policy discussion document - Tourism New Zealand comments New Zealand s international air transport policy discussion document - Tourism New Zealand comments Date: 18 June 2012 Objective What should the objective of New Zealand s international air transport policy

More information

Minneapolis- St. Paul Detroit. Cincinnati. Memphis Atlanta

Minneapolis- St. Paul Detroit. Cincinnati. Memphis Atlanta Delta Air Lines U.S. Hub Cities Salt Lake City Minneapolis- St. Paul Detroit Cincinnati New York (JFK) Memphis Atlanta Delta Serves: International Destinations 49 Domestic Destinations 64 Countries (September

More information

International Civil Aviation Organization WORLDWIDE AIR TRANSPORT CONFERENCE (ATCONF) SIXTH MEETING. Montréal, 18 to 22 March 2013

International Civil Aviation Organization WORLDWIDE AIR TRANSPORT CONFERENCE (ATCONF) SIXTH MEETING. Montréal, 18 to 22 March 2013 International Civil Aviation Organization ATConf/6-WP/11 10/12/12 WORKING PAPER WORLDWIDE AIR TRANSPORT CONFERENCE (ATCONF) SIXTH MEETING Montréal, 18 to 22 March 2013 Agenda Item 2: Examination of key

More information

Portugal and Air Transport in the Early 21st Century. Kenneth Button

Portugal and Air Transport in the Early 21st Century. Kenneth Button Portugal and Air Transport in the Early 21st Century Kenneth Button AIR TRANSPORT The Nature of air transport 1. Air transport is important It is a big industry It is vital to many industries and regions

More information

The Economic Outlook of Hong Kong. in the Context of China s 12th Five-Year Plan

The Economic Outlook of Hong Kong. in the Context of China s 12th Five-Year Plan The Economic Outlook of Hong Kong in the Context of China s 12th Five-Year Plan A Speech by Dr Victor Fung to the Students and Professionals at Savantas Liberal Arts Academy 匯 賢 智 庫 學 苑 on 21 May 2011

More information

China s Accession to the WTO and its Impact on the Asian Economy. C. H. Kwan Nomura Research Institute

China s Accession to the WTO and its Impact on the Asian Economy. C. H. Kwan Nomura Research Institute Introduction China s Accession to the WTO and its Impact on the Asian Economy C. H. Kwan Nomura Research Institute After fifteen years of tough negotiation, China is poised to join the World Trade Organization

More information

QUALITY OF SERVICE INDEX

QUALITY OF SERVICE INDEX QUALITY OF SERVICE INDEX Advanced Presented by: David Dague ICF SH&E Principal 2012 Air Service Data and Planning Seminar January 22-24, 2012 0 Workshop Agenda Introduction QSI/CSI Overview QSI Uses Historical

More information

TIAC POSITION ON OPEN SKIES POLICY IN CANADA

TIAC POSITION ON OPEN SKIES POLICY IN CANADA 1 CONTENTS TIAC Position on Open Skies Policy in Canada... 3 Executive Summary: Points of Consideration for TIAC...3 TIAC Recommendations: A Multi-Faceted Approach... 4 Air Service Agreements: A History...

More information

The need for greater liberalization of international air transport

The need for greater liberalization of international air transport Policy statement The need for greater liberalization of international air transport Commission on Air Transport, 7 December 2000 The International Chamber of Commerce (ICC) has since its inception supported

More information

A380 Commercial Update for JP Morgan

A380 Commercial Update for JP Morgan Jean-Pierre Dambrine A380 Marketing Director Commercial Update for JP Morgan 9 th Own the Sky All around the world All around the world The most efficient way to grow Network optimiser, yield booster The

More information

United States-China Trade: Where are the Exports? Barry Bosworth Susan Collins Aaron Flaaen

United States-China Trade: Where are the Exports? Barry Bosworth Susan Collins Aaron Flaaen United States-China Trade: Where are the Exports? Barry Bosworth Susan Collins Aaron Flaaen Introduction Significant deterioration in US China trade relationship. Most of U.S. discussion focuses on perceived

More information

Information meeting. Cheuvreux Conference September 2010. Philippe Calavia CFO, Air France-KLM

Information meeting. Cheuvreux Conference September 2010. Philippe Calavia CFO, Air France-KLM Information meeting Cheuvreux Conference September 2010 Philippe Calavia CFO, Air France-KLM Air transportation: a growth industry CAGR 2001-11 GDP: +2.7% World Passenger traffic: +5.0% World cargo traffic:

More information

Analysis of Canada s Bilateral Air Services Agreements: Policy Focus on Asia-Pacific Region

Analysis of Canada s Bilateral Air Services Agreements: Policy Focus on Asia-Pacific Region Analysis of Canada s Bilateral Air Services Agreements: Policy Focus on Asia-Pacific Region for Ministry of Transportation, The Government of British Columbia RFP Number: 067CS33202 By The International

More information

Current Market. Predicting the future is a risky business. Meet your new

Current Market. Predicting the future is a risky business. Meet your new By Dawsalee Griffin Meet your new Current Market Outlook What s in store for the next 20 years of the global jetliner market? The just-released version of this annual Boeing report offers the company s

More information

Comments on Forecasting Air Travel with Open Skies by William M. Swan Prepared for the KOTI Conference, Honolulu, Hawaii August 14-15, 2008

Comments on Forecasting Air Travel with Open Skies by William M. Swan Prepared for the KOTI Conference, Honolulu, Hawaii August 14-15, 2008 Comments on Forecasting Air Travel with Open Skies by William M. Swan Prepared for the KOTI Conference, Honolulu, Hawaii August 14-15, 2008 Hiroshi Ohashi Associate Professor of Economics, University of

More information

Open skies, open clubs and open regionalism

Open skies, open clubs and open regionalism Open skies, open clubs and open regionalism some new issues for Asia Pacific Economic Cooperation Andrew Elek, Christopher Findlay, Paul Hooper and Tony Warren 1 1 A revised version of a paper presented

More information

Achieving Open Skies. Dr George Williams Reader in Airline Economics. Air Transport Department

Achieving Open Skies. Dr George Williams Reader in Airline Economics. Air Transport Department Achieving Open Skies Dr George Williams Reader in Airline Economics Types of Air Transport Trading Agreements Bilateral Open Skies Plurilateral Multilateral Chicago Conference 52 nations met in 1944 to

More information

China's Aviation Sector - Overview, Current Trends & Opportunities for European Suppliers

China's Aviation Sector - Overview, Current Trends & Opportunities for European Suppliers China's Aviation Sector - Overview, Current Trends & Opportunities for European Suppliers China Civil Aviation Report Uniworld, LLC/Francis Chao September 6, 2005. Dublin, Ireland Before 1978, It was a

More information

Support Material. May 2012

Support Material. May 2012 Support Material May 2012 FORWARD-LOOKING STATEMENTS This document contains forward-looking statements, including with respect to the negotiation, implementation and effects of the proposed combination.

More information

Future Growth of the Airline Industry

Future Growth of the Airline Industry Future Growth of the Airline Industry How will global competition drive change? Andrew Herdman Director General Association of Asia Pacific Airlines Geneva, Switzerland 22 February 2011 Overview Current

More information

The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific

The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific A Report by Research For Travel Ltd July 2012 Research For Travel Ltd The Impact of The European Crisis on Travel

More information

GLOBAL B2C E-COMMERCE DELIVERY 2015

GLOBAL B2C E-COMMERCE DELIVERY 2015 PUBLICATION DATE: OCTOBER 2015 PAGE 2 GENERAL INFORMATION I PAGE 3 KEY FINDINGS I PAGE 4-8 TABLE OF CONTENTS I PAGE 9 REPORT-SPECIFIC SAMPLE CHARTS I PAGE 10 METHODOLOGY I PAGE 11RELATED REPORTS I PAGE

More information

EUROPEAN AIRPORTS AND TOURISM ORGANISATIONS TOGETHER ON OPEN SKIES

EUROPEAN AIRPORTS AND TOURISM ORGANISATIONS TOGETHER ON OPEN SKIES EUROPEAN AIRPORTS AND TOURISM ORGANISATIONS TOGETHER ON OPEN SKIES 1 Over the past months, the expansion of Gulf airlines in particular Emirates, Etihad Airways and Qatar Airways into the North American

More information

Trends in Aviation & Impact on MROs. Khwaja M. (KM) Ali Director, Maintenance Economics

Trends in Aviation & Impact on MROs. Khwaja M. (KM) Ali Director, Maintenance Economics Trends in Aviation & Impact on MROs Khwaja M. (KM) Ali Director, Maintenance Economics 7 th Maintenance Cost Conference Singapore, October 19-21, 2011 Seven Trends Are Shaping The Long-Term Structure Of

More information

The Importance of International Services Standardisation in Australia

The Importance of International Services Standardisation in Australia 15 May 2015 Australian Services Exports Productivity Commission Locked Bag 2, Collins Street Melbourne VIC 8003 Productivity Commission Study into Barriers to Growth in Australian Services Exports Standards

More information

Ministry of Small Business,Technology and Economic Development

Ministry of Small Business,Technology and Economic Development Ministry of Small Business,Technology and Economic Development 2 BRITISH COLUMBIA S TRADE AND INVESTMENT STRATEGY FOR CHINA Why China is Important to British Columbia China is the world s fourth largest

More information

Global Deployment of IT Solutions that Contribute to Social Progress

Global Deployment of IT Solutions that Contribute to Social Progress Hitachi Review Vol. 63 (2014), No. 6 315 Overview Global Deployment of IT Solutions that Contribute to Social Progress Sunao Ehara Wakana Kasai Isamu Nishikawa Shinichi Matsuoka SOLUTIONS THAT TIE TOGETHER

More information

The Australian Capital Territory in the Asian Century

The Australian Capital Territory in the Asian Century The Australian Capital Territory in the Asian Century August 2013 SUMMARY The Australian Government s Australia in the Asian Century White Paper has given added impetus to action the ACT government is

More information

TRADE BLOCS. Trade Blocs page 1

TRADE BLOCS. Trade Blocs page 1 TRADE BLOCS The Treaty of Rome reached in 1957 set in motion a process of integrating the economies of Western Europe. As we enter the new millennium, the European Union, instituting a common currency

More information

Overview and Effects of Open Skies Policy

Overview and Effects of Open Skies Policy Overview and Effects of Open Skies Policy Makoto Washizu Chairman, Japan International Transport Institute 鷲 頭 誠 国 際 問 題 研 究 所 所 長 Topics of Today s Seminar Impacts of international air transport on tourism

More information

International Business Environment & Strategy

International Business Environment & Strategy International Business Environment & Strategy Drivers of isation June 2010 Slides based on Yip, G. (1995):- Johnson, Scholes & Whittington (2005) Exploring Corporate Strategy, 7 th edition Robert Jones

More information

Recent trends of dynamically growing and developing life insurance markets in Asia

Recent trends of dynamically growing and developing life insurance markets in Asia Recent trends of dynamically growing and developing life insurance markets in Asia Tomikazu HIRAGA, Ph.D. and LL.M. General Manager for Asia, NLI Research Institute Asia is a growth market where foreign

More information

Global Student Mobility 2025 Forecasts of the Global Demand for Pathways to Higher Education in the Schools, VET and ELICOS sectors

Global Student Mobility 2025 Forecasts of the Global Demand for Pathways to Higher Education in the Schools, VET and ELICOS sectors Global Student Mobility 2025 Forecasts of the Global Demand for Pathways to Higher Education in the Schools, VET and ELICOS sectors Andrew Hewett IDP Education Australia Agenda and Key Issues Pathways

More information

Accommodating ggrowth and hub development: experiences from Amsterdam and India

Accommodating ggrowth and hub development: experiences from Amsterdam and India Accommodating ggrowth and hub development: experiences from Amsterdam and India Dr Guillaume Burghouwt - Director Airneth - Head of section aviation economics, SEO Economic Research Outline Some important

More information

Global Talent Index Highlights

Global Talent Index Highlights 2012 Global Talent Index Highlights Talent is critical to Boston s economic future, and to the future of metropolitan regions around the world. Of all the factors driving economic growth, none is more

More information

ICAN 2014. Air Services Negotiation Event BIOGRAPHIES. 17 21 November 2014, Bali Indonesia

ICAN 2014. Air Services Negotiation Event BIOGRAPHIES. 17 21 November 2014, Bali Indonesia ICAN 2014 Air Services Negotiation Event 17 21 November 2014, Bali Indonesia BIOGRAPHIES Raymond Benjamin Secretary General of the International Civil Aviation Organization Mr. Benjamin has been Secretary

More information

Discussion Paper 01: Aviation Demand Forecasting

Discussion Paper 01: Aviation Demand Forecasting Airports Commission Discussion Paper 01: Aviation Demand Forecasting Response from Kent County Council and Medway Council Q1: To what extent do you consider that the DfT forecasts support or challenge

More information

Promoting Asian Economic & Financial Cooperation

Promoting Asian Economic & Financial Cooperation Promoting Asian Economic & Financial Cooperation Exim Bank s Initiatives Mr. T.C. VENKAT SUBRAMANIAN Chairman & Managing Director Exim Bank of India 1 Introduction 2 International trade & investment vital

More information

International Civil Aviation Organization WORLDWIDE AIR TRANSPORT CONFERENCE (ATCONF) SIXTH MEETING. Montréal, 18 to 22 March 2013

International Civil Aviation Organization WORLDWIDE AIR TRANSPORT CONFERENCE (ATCONF) SIXTH MEETING. Montréal, 18 to 22 March 2013 International Civil Aviation Organization 14/2/13 WORKING PAPER WORLDWIDE AIR TRANSPORT CONFERENCE (ATCONF) SIXTH MEETING Montréal, 18 to 22 March 2013 Agenda Item 2: Examination of key issues and regulatory

More information

Busiest ports. Asian Tiger. Business friendly. Highest Trade/GDP Ratio. 4 th biggest financial centre

Busiest ports. Asian Tiger. Business friendly. Highest Trade/GDP Ratio. 4 th biggest financial centre Busiest ports Business friendly Asian Tiger Highest Trade/GDP Ratio 4 th biggest financial centre Singapore economy at a glance: Singapore is a global trading power. Its strategic geographical location,

More information

Asia/Pacific VoIP: A Change of Heart

Asia/Pacific VoIP: A Change of Heart Asia/Pacific VoIP: A Change of Heart Market Analysis Abstract: Voice over IP, which has been struggling to get off the ground for a long time, is beginning to take off in Asia/Pacific, especially in the

More information

Global Real Estate Outlook

Global Real Estate Outlook Global Real Estate Outlook August 2014 The Hierarchy of Economic Performance, 2014-2015 China Indonesia India Poland South Korea Turkey Australia Mexico United Kingdom Sweden United States Canada South

More information

THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015

THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY GENERAL REPORT FOR AUSTRALIA, CHINA, HONG KONG, INDONESIA, MALAYSIA, NEW ZEALAND, SINGAPORE AND VIETNAM 2 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS

More information

POTENTIAL BENEFITS OF A CANADIAN-BASED RMB SETTLEMENT CENTRE

POTENTIAL BENEFITS OF A CANADIAN-BASED RMB SETTLEMENT CENTRE POTENTIAL BENEFITS OF A CANADIAN-BASED RMB SETTLEMENT CENTRE Prepared for: Advantage BC Mr. Colin Hansen, President Suite 3093, Three Bentall Centre 595 Burrard Street PO Box 49067 Vancouver, BC V7X 1C4

More information

Global Corporate Travel Forecast: A Guide for Pricing and Negotiations in 2013

Global Corporate Travel Forecast: A Guide for Pricing and Negotiations in 2013 Global Corporate Travel Forecast: A Guide for Pricing and Negotiations in 2013 October 2012 October 2012 In This Guide 1. Airfares Overview: North America ATPs Pg. 3 Global Corporate Travel Forecast: A

More information

18 / British Airways 2008/09 Annual Report and Accounts. Our business

18 / British Airways 2008/09 Annual Report and Accounts. Our business 18 / British Airways 2008/09 Annual Report and Accounts Our business The global airline industry is fiercely competitive, heavily regulated and highly exposed to changes in customer behaviour and consumer

More information

Enhancing Airspace Efficiency and Capacity in the Asia Pacific Region

Enhancing Airspace Efficiency and Capacity in the Asia Pacific Region Enhancing Airspace Efficiency and Capacity in the Asia Pacific Region ABSTRACT The Asia Pacific region currently has a market share of 30 per cent of the world s total number of passengers per kilometre

More information

2010 Expatriate, Returnee and China Hired Foreigner, Compensation and Benefits Survey

2010 Expatriate, Returnee and China Hired Foreigner, Compensation and Benefits Survey 2010 Expatriate, Returnee and China Hired Foreigner, Compensation and Benefits Survey Result Sharing Presentation The American Chamber of Commerce in Shanghai Agenda Study Background Growth Expatriates

More information

GLOBAL TRENDS IN HIGHER EDUCATION. David Stockley

GLOBAL TRENDS IN HIGHER EDUCATION. David Stockley GLOBAL TRENDS IN HIGHER EDUCATION David Stockley Beijing May 2011 KEY TRENDS 1. Changing gglobal demographics 2. Increasing global student mobility 3. Higher education as a global market 4. Declining public

More information

Freight Forwarders: Thinking Outside the Box

Freight Forwarders: Thinking Outside the Box Freight Forwarders: Thinking Outside the Box Given its size, profitability, and expected growth rates, freight forwarding is among the most attractive segments in the North American transportation services

More information

Factors affecting the inbound tourism sector. - the impact and implications of the Australian dollar

Factors affecting the inbound tourism sector. - the impact and implications of the Australian dollar Factors affecting the inbound tourism sector - the impact and implications of the Australian dollar 1 Factors affecting the inbound tourism sector - the impact and implications of the Australian dollar

More information

Chapter 9 AIR TRANSPORT IN KOREA AND NORTHEAST ASIA

Chapter 9 AIR TRANSPORT IN KOREA AND NORTHEAST ASIA Chapter 9 AIR TRANSPORT IN KOREA AND NORTHEAST ASIA Yeon Myung Kim and Sean Seungho Lee 1 Competition on domestic routes in Korea by low cost carriers has led to much lower s. The negotiation of an Open

More information

Negotiation of a Free Trade Agreement between Hong Kong and the Association of Southeast Asian Nations. Consultation Document

Negotiation of a Free Trade Agreement between Hong Kong and the Association of Southeast Asian Nations. Consultation Document Negotiation of a Free Trade Agreement between Hong Kong and the Association of Southeast Asian Nations Consultation Document INTRODUCTION The Government of the Hong Kong Special Administrative Region will

More information

Airport Slot Allocations In The EU: Current Regulation and Perspectives.

Airport Slot Allocations In The EU: Current Regulation and Perspectives. Airport Slot Allocations In The EU: Current Regulation and Perspectives. O. H. December 2009 Objectives of the study Identify what the current situation of slot allocation is in the European Union. Identify

More information

Aviation Radar 2013. Mai 2013. European Aviation Radar 2013_final.pptx

Aviation Radar 2013. Mai 2013. European Aviation Radar 2013_final.pptx 1 Aviation Radar 2013 Airline and airport managers are cautiously positive about the future of European aviation. However, fundamental changes are underway. The industry players might be forced to adapt

More information

Asian Stock Markets in 2015:

Asian Stock Markets in 2015: Asian Stock Markets in 2015: Expected trends and the role of Asian Funds Passports Dr. Andrew Freris CEO, Ecognosis Advisory Ltd March 2015 1 Summary, Part I The Asian markets which outperformed in 2014,

More information

APEC s evolving supply chain

APEC s evolving supply chain 2012 APEC CEO Summit: PwC issues spotlight APEC s evolving supply chain Leading up to this year s Asia-Pacific Economic Cooperation CEO Summit in Vladivostok, Russia on September 7 8, PwC is sharing a

More information

AIRPORT DEVELOPMENT for ASEAN OPEN SKY

AIRPORT DEVELOPMENT for ASEAN OPEN SKY AIRPORT DEVELOPMENT for ASEAN OPEN SKY PT Angkasa Pura II (Persero) DJOKO MURJATMODJO DIRECTOR OF OPERATION AND ENGINEERING OF PT Angkasa Pura II 31 MARCH 2015 Introduction Establishment Bangkok Declaration

More information

Air China hosts the market opening ceremony at the Stock Exchange of Hong Kong to Celebrate the 10 th anniversary of its listing in Hong Kong

Air China hosts the market opening ceremony at the Stock Exchange of Hong Kong to Celebrate the 10 th anniversary of its listing in Hong Kong [Press Release] Air China hosts the market opening ceremony at the Stock Exchange of Hong Kong to Celebrate the 10 th anniversary of its listing in Hong Kong Build on past success to soar ahead Maintain

More information

Capital Market Integration and Stock Exchange Consolidation in the Asia-Pacific

Capital Market Integration and Stock Exchange Consolidation in the Asia-Pacific Joint Statement Asian Shadow Financial Regulatory Committee and Australia-New Zealand Shadow Financial Regulatory Committee Queenstown, New Zealand 6 April, 2011 * Capital Market Integration and Stock

More information

United Nations Conference on Trade and Development CONTAINER SECURITY: MAJOR INITIATIVES AND RELATED INTERNATIONAL DEVELOPMENTS

United Nations Conference on Trade and Development CONTAINER SECURITY: MAJOR INITIATIVES AND RELATED INTERNATIONAL DEVELOPMENTS United Nations Conference on Trade and Development CONTAINER SECURITY: MAJOR INITIATIVES AND RELATED INTERNATIONAL DEVELOPMENTS Comments received from the United States Government on US Container Security

More information

Receivables Finance & Protection

Receivables Finance & Protection Receivable management in China Receivables Finance & Protection General Management / Jens Hoter / 23.09.2009 / Page 1 of 14 Index General Environment in China Present Market Protection Business Receivables

More information

Building a Logistics/Supply Chain Hub The Singapore Experience. Hum SinHoon NUS Business School National University of Singapore

Building a Logistics/Supply Chain Hub The Singapore Experience. Hum SinHoon NUS Business School National University of Singapore Building a Logistics/Supply Chain Hub The Singapore Experience Hum SinHoon NUS Business School National University of Singapore BACKGROUND Singapore Rankings World Business Environment Rank Country Total

More information

Policy Recommendations on. Japan-Australia Security Cooperation

Policy Recommendations on. Japan-Australia Security Cooperation Policy Recommendations on Japan-Australia Security Cooperation The Eighth Japan-Australia Track 1.5 Dialogue, co-hosted by the Japan Institute of International Affairs (JIIA) and the Australian Strategic

More information

Thailand s Logistics

Thailand s Logistics Thailand s Logistics Over the past fourteen years, overall international trade with Thailand has grown 340% and manufacturing trade 370%; this growth, aided in part by the nation s bilateral trade agreements

More information

Air China Limited Announces 2013 Annual Results

Air China Limited Announces 2013 Annual Results Air China Limited Announces 2013 Annual Results Hong Kong March 26, 2014 Air China Limited ( Air China or the Company, together with its subsidiaries, collectively the Group ) (HKEX: 00753; LSE: AIRC;

More information

State of the Oil Markets?

State of the Oil Markets? State of the Oil Markets? U.S. and Global Refining Prospects John R. Auers, P.E. Executive Vice President Washington DC February 17, 2016 U.S. Refining is YUGE! 2 What Determines Refining Winners? Refined

More information

CEIBS-INSEAD Multinational Management Programme. Seizing International Opportunities

CEIBS-INSEAD Multinational Management Programme. Seizing International Opportunities CEIBS-INSEAD Multinational Management Programme Seizing International Opportunities CEIBS-INSEAD Multinational Management Programme Seizing International Opportunities CEIBS and INSEAD have partnered to

More information

Health Care Viewpoint

Health Care Viewpoint Global Penetration: Growth and Competitive Advantage Health Care Viewpoint Number 6 Bain health care expertise As the year 2000 approaches, the health care industry is still turbulent. Customer requirements

More information

Demand for RMB and Financial Services through Hong Kong by German Businesses

Demand for RMB and Financial Services through Hong Kong by German Businesses Demand for RMB and Financial Services through Hong Kong by German Businesses Think Asia, Think Hong Kong Munich, 11 September 2014 Think Asia, Think Hong Kong Munich, 11 September 2014 Page 1 Asia: Key

More information

Finnair Q3 Result 2012. 26 October 2012

Finnair Q3 Result 2012. 26 October 2012 Finnair Q3 Result 2012 26 October 2012 1 Content Market environment in Q3 Business performance and strategy execution Outlook Financials 2 Finnair Q3 Result, 26 October 2012 Market Environment The global

More information

Chinese University of Hong Kong Conference on HKEx and the Market Structure Revolution

Chinese University of Hong Kong Conference on HKEx and the Market Structure Revolution Chinese University of Hong Kong Conference on HKEx and the Market Structure Revolution The Impact of Market Structure Changes on Securities Exchanges Regulation 31 March 2012 Keith Lui Executive Director,

More information

Case Study: Global MPLSbased. Network

Case Study: Global MPLSbased. Network Welcome Wednesday, May 18 2005 Case Study: Global MPLSbased Outsourced Network Presented by: Markos Moya, Vice President Commercial Enterprises Hyatt International Corporation Operates, manages or franchises

More information

2015 Annual Results 26 August 2015 Christopher Luxon CEO Rob McDonald CFO

2015 Annual Results 26 August 2015 Christopher Luxon CEO Rob McDonald CFO 2015 Annual Results 26 August 2015 Christopher Luxon CEO Rob McDonald CFO 1 The year in review Another year of earnings growth: Normalised earnings* before taxation $496 million, up 49.4% Statutory net

More information

JITI Aviation Seminar Future of the U.S.-Japan Market Washington, D.C. November 19, 2013. John R. Byerly

JITI Aviation Seminar Future of the U.S.-Japan Market Washington, D.C. November 19, 2013. John R. Byerly JITI Aviation Seminar Future of the U.S.-Japan Market Washington, D.C. November 19, 2013 Remarks By John R. Byerly Introduction I am honored to participate in today s important seminar on Japan-U.S. aviation

More information

Developments in the Trade-Weighted Index 1

Developments in the Trade-Weighted Index 1 Reserve Bank of Australia Bulletin October 22 Developments in the Trade-Weighted Index 1 Introduction This article provides some background on the history and methodology of the trade-weighted index (TWI)

More information

Taoyuan Aerotropolis Infrastructure Project and. Taoyuan International Airport Terminal 3 Project TAIWAN

Taoyuan Aerotropolis Infrastructure Project and. Taoyuan International Airport Terminal 3 Project TAIWAN Taoyuan Aerotropolis Infrastructure Project and Taoyuan International Airport Terminal 3 Project TAIWAN The Taoyuan Aerotropolis Infrastructure Project, seen as a prime driver of Taiwan s future economic

More information

Your Customers. Our Promise. China Telecom Americas' Commitment to Carrier Partners Creates Opportunities for Global Expansion

Your Customers. Our Promise. China Telecom Americas' Commitment to Carrier Partners Creates Opportunities for Global Expansion Your Customers. Our Promise. China Telecom Americas' Commitment to Carrier Partners Creates Opportunities for Global Expansion White Paper As the North American subsidiary of the largest, most prestigious

More information

BOARD OF SUPERVISORS BUSINESS MEETING BOARD MEMBER INITIATIVE

BOARD OF SUPERVISORS BUSINESS MEETING BOARD MEMBER INITIATIVE BOARD OF SUPERVISORS BUSINESS MEETING BOARD MEMBER INITIATIVE Date of Meeting: November 4, 2015 #R-2 SUBJECT: ELECTION DISTRICT: CRITICAL ACTION DATE: STAFF CONTACT: A Resolution of Support Recognizing

More information

The Impact of the 2007 U.S.-EU Open Skies Air Transport Agreement

The Impact of the 2007 U.S.-EU Open Skies Air Transport Agreement ITA Occasional Paper no. 07-001 May 2007 The Impact of the 2007 U.S.-EU Open Skies Air Transport Agreement by Eugene Alford and Richard Champley Overview On March 2, 2007, the United States and the European

More information

The Changing Global Economy: The Implications and Opportunities for Transportation in Atlantic Canada

The Changing Global Economy: The Implications and Opportunities for Transportation in Atlantic Canada The Changing Global Economy: The Implications and Opportunities for Transportation in Atlantic Canada Atlantic Provinces Transportation Forum St. John s, NL May 30, 2007 David Chaundy, Senior Economist,

More information

U.S. News Best Global Universities Rankings: An inside look at the latest results and methodology

U.S. News Best Global Universities Rankings: An inside look at the latest results and methodology U.S. News Best Global Universities Rankings: An inside look at the latest results and methodology Robert J. Morse, Chief Data Strategist U.S. News & World Report 6th International Conference on World-Class

More information

Challenges for Capital Market Development in Asia

Challenges for Capital Market Development in Asia Challenges for Capital Market Development in Asia Osaka, 30 October 2014 Masamichi Kono Vice Minister for International Affairs President, Asian Financial Partnership Center Financial Services Agency,

More information

Measuring the Economic Impact of Liberalization of International Aviation on Hamburg Airport

Measuring the Economic Impact of Liberalization of International Aviation on Hamburg Airport Measuring the Economic Impact of Liberalization of International Aviation on Hamburg Airport David Gillen School of Business & Economics Wilfrid Laurier University Waterloo, Canada Holger Hinsch Science

More information

Global Corporate Travel Forecast: A Guide for Pricing and Negotiations in 2013

Global Corporate Travel Forecast: A Guide for Pricing and Negotiations in 2013 Global Corporate Travel Forecast: A Guide for Pricing and Negotiations in 2013 October 2012 In This Guide 1. Airfares Overview: European ATPs Pg. 3 Global Corporate Travel Forecast: A Guide for Pricing

More information

OBJECTIVES CHAPTER OVERVIEW CHAPTER OUTLINE SEMINAR 28 NOV 2013

OBJECTIVES CHAPTER OVERVIEW CHAPTER OUTLINE SEMINAR 28 NOV 2013 OBJECTIVES To learn the fundamentals of foreign exchange To identify the major characteristics of the foreign-exchange market and how governments control the flow of currencies across national borders

More information

Your vision. Let s make it happen.

Your vision. Let s make it happen. Your vision. Let s make it happen. CORPORATE AND INVESTMENT BANKING CAPITAL MARKETS COMMERCIAL BANKING TRANSACTION BANKING TRADE FINANCE Creating opportunities Strength and stability, far and wide Scotiabank

More information

New IT Business Models in the Asian Age - Multilateral Collaboration and Business Innovation

New IT Business Models in the Asian Age - Multilateral Collaboration and Business Innovation New IT Business Models in the Asian Age - Multilateral Collaboration and Business Innovation May 20, 2005 Kiyoshi Urakami Urakami Asia Management Research http://www2.odn.ne.jp/kurakami/english.htm 1 National

More information

Hong Kong: Gateway to China for Estonian Businesses

Hong Kong: Gateway to China for Estonian Businesses Hong Kong: Gateway to China for Estonian Businesses Mrs Agnes ALLCOCK, Director-General Hong Kong Economic and Trade Office (London) 2 June 2011 1 Hong Kong: The Latest Economic Situation Real GDP Growth:

More information

Corporate Jet & Helicopter Finance Asia 2013

Corporate Jet & Helicopter Finance Asia 2013 Corporate Jet & Helicopter Finance Asia 2013 State of the market: Where are we now and which way is the market going? 25 th June 2013 Agenda 1. The Global UHNW Population 2. UHNWIs in Asia 3. The Chinese

More information

LEARNING!TEAM!9A! Aquino' Bandivadekar' Jao' Khaleel' Rapeti'

LEARNING!TEAM!9A! Aquino' Bandivadekar' Jao' Khaleel' Rapeti' LEARNINGTEAM9A Aquino' Bandivadekar' Jao' Khaleel' Rapeti' COOPETITION(IN(OPEN(SKIES A(Look(Into(the(Air(Transport(Industries(from(the( Perspective(of(the(National(Carriers(of(ASEAN s(two( Archipelagic(Nations

More information