At least, this is the wish of the International Air Transport Association (IATA) which, after several years of militancy and education on the subject of liberalisation of the sector, succeeded in imposing its point of view on the public players at the end of its "Agenda for Freedom Summit" organised in Montebello (Canada), with the aim, set out in a final declaration, of changing the "65-year-old" rules for organising the market, based on bilateral agreements and restrictions on the entry of foreign capital into "national" airlines.
Chile, Malaysia, Panama, Singapore, Switzerland, the United Arab Emirates and above all the United States and the European Commission: according to IATA, the countries and organisations that have signed this final declaration represent "nearly 60 % of the global airline industry". By supporting free access for airlines to the global capital market, this text heralds major manoeuvres in the global airline sector, where mergers, acquisitions and takeovers are still heavily restricted by various national and Community regulations. "This is a historic achievement that should help lay the foundations for a financially sustainable airline industry", said Giovanni Bisignani, President of IATA, welcoming the signing of the document. He also reiterated IATA's credo: "Airlines have made globalisation possible, but our industry remains fragmented and unable to cover its capital costs. It is important for the airline industry to find a new playing field and benefit from the freedom that other industries can take for granted." Duly noted.
