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The Revenue Crisis: When Will the Airline Industry Recover?

- How has the financial crisis impacted airlines and the other industry stakeholders?
- What are the recovery strategies?
- Does liberalization improve or worsen the financial condition of airlines?
- How do alliances and antitrust immunity enhance revenue, reduce costs, and affect consummer welfare?
- Where will the industry be in five years?


Chair: Narjess Teyssier - Chief, Economic Analysis & Policy Section, ICAO - Presentation Teyssier [.pptx]

Speakers:
Phillip A. Baggaley
- Managing Director, Standard & Poors - Presentation Baggaley [.ppt]
Chris Lyle - WTO Representative to ICAO, UN World Tourism Organization - Presentation Lyle [.ppt]
Brian Pearce - Chief Economist, International Air Transport Association (IATA) - Presentation Pierce [.pptx]
Donald Schenk - CEO, Airline Capital Associates - Presentation Schenk [.pptx]


Narjess Teyssier

Narjess Teyssier is Chief Economic Analysis and Policy for the International Civil Aviation Organization (ICAO), a specialized agency of the United Nations, located in Montréal.

In this role she is responsible for the ICAO Statistics Programme, the forecasting activities and the economic studies of ICAO, enabling the monitoring of the Strategic Objectives of the Organization. Her current portfolio also covers the development of policies on major regulatory issues linked to liberalization of international air transport and to the economics of airports and air navigation services.

Prior to this appointment, Mrs Teyssier has held a variety of marketing, sales and market research positions in the air transport industry, notably in a regional air carrier and in Airbus where she worked for over seven years.

She holds a degree in Aeronautical Engineering from a French school, Ecole Nationale de l´Aviation Civile (Toulouse), as well as a Research Masters degree in transport Economics from Ecole des Ponts Paris Tech and a Masters degree in air transport management from the business school ESC (Toulouse).


Phillip A. Baggaley

Philip A. Baggaley is a managing director in Corporate Ratings. He analyzes airlines and aircraft leasing companies, and manages Standard & Poor’s transportation, aerospace, and defense rating team. Phil has addressed numerous industry conferences on airlines and railroads, and has testified before the federal Airline Commission and the aviation subcommittees of the Senate and House of Representatives. He joined the company in 1985 as a transportation bond analyst, took over direction of the transportation group in 1990, and assumed management responsibility for aerospace and defense rating in 1993.

Prior to joining Standard & Poor’s, Phil was a commercial banking officer with The First National Bank of Chicago and a lecturer in the Yale University History Department. Phil holds a B.A. in history and international relations from the University of Pennsylvania, and a Ph.D. in history from Yale University. He is a Chartered Financial Analyst.

Phil reports to Ronald Barone, managing director in Corporate Ratings.


Chris Lyle

Chris Lyle’s career spans British Airways, the Economic Commission for Africa, the International Civil Aviation Organization (ICAO) and the World Tourism Organization (UNWTO) for which he is currently the Representative to ICAO. He also heads up a consultancy, Air Transport Economics.

Chris’ substantial work in the field of tourism and air transport has included economic and statistical analysis, policy aspects of economic regulation and of mitigation of GreenHouse Gas emissions, development of essential tourism air services, and a strategy on Security and Facilitation Enhancement.

Chris is a graduate of Cambridge University with a postgraduate in operational research, and he is a Fellow of the Royal Aeronautical Society.


Brian Pearce

Brian Pearce has been IATA’s Chief Economist for the past six years. His role is to analyse the economic and policy landscape facing the airline industry, to provide an evidence base and credible economic analysis to guide and support IATA’s policy work. Recently he directed major projects to model the economics of CO2 abatement in aviation, and to estimate the benefits of liberalizing ownership and control regulations on airlines. An economist with over 25 years of international experience in several industries, he is also a Visiting Professor at Cranfield University’s Department of Air Transport.

He was formerly head of global economic research at the investment bank SBC Warburg in Tokyo and then London, and was Chief Economist at Ernst & Young’s economic forecasting consultancy, the ITEM Club. He was frequently called on by television, radio and the press to comment on Government economic policy and wrote a series of articles for the UK’s Sunday Times and Japan’s Nikkei Business.

Prior to joining IATA he worked at the UK think-tank Forum for the Future as its Director of Sustainable Investment. In this role he was deeply involved in the early analysis and policy design for addressing aviation’s environmental issues, with HM Treasury and the Department for Transport. He also advised on the financial sector’s role in promoting good corporate governance and responsibility, and directed the initiative launched by the UK Prime Minister at the 2002 World Summit on Sustainable Development.


Donald P. Schenk

Mr. Schenk is President and CEO of ACA Associates, Inc., an advisory firm specializing in the commercial aviation industry. The firm’s global practice provides it insights into all aspects of the aviation business through its work for major aerospace companies, airlines, aviation service companies, airports and government agencies. It is associated with the widely recognized industry publication, The Airline Monitor.

Mr. Schenk founded ACA Associates in 1989 after eighteen years at Bankers Trust Company where he was a Managing Director covering aerospace and aviation companies in the Corporate Finance Department. His consulting practice includes some of the aviation industry’s largest corporations, as well as labor unions, governments, financial institutions, and entrepreneurs. This varied client base and his financial background provide Mr. Schenk unique insights into the aviation industry.

Over the past few years, he has focused on the environment and sustainability of commercial aviation. The firm was retained by the FAA to help leverage the expertise of the Commercial Alternative Aviation Fuel Initiative’s (CAAFI) 300+ members to help fuel producers and fuel buyers move sustainable aviation fuel projects from concept to reality. Mr. Schenk helped CAAFI develop a road map to increase the availability of financing for fuel refinery projects. In addition, he is working closely with fuel suppliers at airports and military bases, state interests, and national U.S. agencies such as the Department of Energy, the Department of Agriculture, the Department of Defense, and the FAA. Mr. Schenk has led CAAFI’s international initiatives by working with multi national entities such as the World Bank, regional developmental banks, such as the Inter- American Development Bank, and project sponsors in countries around the world.

Mr. Schenk is a regular speaker at aviation conferences and is a guest lecturer at the Vaughn College of Aeronautics. He is a graduate of Columbia College in New York and holds a MBA from Columbia University School of Business.