World States and aviation industry groups wound up high-level talks at the International Civil Aviation Organization (ICAO) at the Sixth Air Transport Conference, agreeing to key economic regulatory objectives that will guide their efforts to deliver a more competitive and sustainable international aviation sector over the coming decade.
Increased liberalization of air carrier ownership and control, improved convergence of the myriad consumer protection regimes applicable to passengers and airlines, enhanced air cargo liberalization, as well as renewed focus on minimizing State taxes and charges on air travel and transport were among the key long-term targets agreed to at ICAO’s Sixth Worldwide Air Transport Conference (ATConf/6), held at ICAO Headquarters in Montréal.
Participants to the once-a-decade ICAO event agreed to tear down the barriers that characterize today’s excessively restrictive air services agreements. Doing so will permit world airlines to draw on new sources of investment capital and management expertise.
In the area of airline ownership and control, the Conference agreed that a move toward increased multilateralism would deliver more equity and dependability to profit margins across the entire air transport value chain. It also encouraged enhanced cooperation amongst national and regional competition authorities to further support this progress.
A new multilateral agreement agreed to in the air cargo area is similarly expected to drive increased liberalization and boost global trade. Air transport currently moves 35 percent of annual global cargo by value.
Over one thousand participants,representing 132 countries, major air transport organizations, internationalfinance and a wide range of other groups participated at the influential ICAOevent.
Source: ICAO