Aviation Industry: Looking to 2016 and beyond

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Over 1,400 attendees, including representatives from over 150 airlines and airports from across the world, gathered at Aviation Festival Asia 2016 today.

The day kicked off with aviation leaders panel. Senior executives from Delta Air Lines, Finnair, Air New Zealand, McKinsey & Company and Aviado Partners discussed the biggest challenges facing the aviation industry in Asia and beyond. Here are some of the insights they shared:

  • Asia Pacific market will continue to grow significantly, however, more competition will also be seen, especially from LCCs, forcing to find unique ways to win customers.
  • LCCs have changed the way full-service airlines behave allowing customers to expect more for paying the premium. In-flight services and entertainment are no longer enough and serious investment in innovation will be needed.
  • Technology will be the key enabler in unlocking customer insights, customising and personalising every individual’s journey. Airlines will be moving from just being a transport provider to a service provider both on the ground and in the air.
  • Airlines will be looking to provide more personal and customised communication from their marketing messages to in-flight entertainment and retail experiences. Everything will have to become relevant and useful for an individual traveller moving away from mass communication.
  • Airlines are looking at improving their working relationships and partnerships with hub airports to provide a smooth, hassle-free experiences on the ground.
  • Talent gap will remain one of the key challenges. Airlines are looking to attract talent through providing great company culture, retain employees by putting in more effort in listening and understanding their needs and trying to meet them.
  • Airlines will start recruiting from non-airline industries to expand knowledge and skillset and uncover new ways of doing things.
  • Airlines will be looking at media and retail industries for successful examples of using customer data.
  • More partnerships with non-airline partners will happen, such as transportation and hotels.
  • Airlines will become more selective when forming JVs. They will be looking for mutually beneficial partnerships, culture fits and future evolution prospects.
  • Focusing on what the end customer can get from the JV partnerships will be the key.

To find out more, stay tuned for upcoming interviews with these leaders.

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