IATA and the Japanese crisis

Geneva-based IATA (International Air Transport Association) has welcomed a joint statement issued by ICAO (International Civil Aviation Organization) on behalf of IAEA (International Atomic Energy Agency), IMO (International Maritime Organization), WHO (World Health Organization) and WMO (World Meteorological Organization), on the continued safety of air transport operations in Japan.  These five organizations confirmed that there are no restrictions to normal air transport operations at Japan’s major airports, including both Haneda and Narita.

IATA is co-ordinating actions among airlines to maximize existing fuel supplies, including voluntary tankering of jet fuel.  Its Tokyo office, which annually manages US$20bn in industry fare settlements, remains open. 

According to the organization the most exposed market to Japanese operations is China where Japan accounts for 23% of its international revenues.  Chinese Taipei and South Korea are equally exposed with 20% of their revenues related to Japanese operations, followed by Thailand (15%), the United States (12%), Hong Kong (11%) and Singapore (9%).

The extent to which these travel markets weaken will be largely shaped by what happens to the Japanese economy.  Many economists are suggesting that once reconstruction begins the economy will rebound. www.iata.org

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