ASIA Travel

2008 a Positive Year for SITA

Search ASIA Travel Tips .com Latest Travel News Send to Friend Thursday, 30 April 2009

SITA, a specialist in air transport communication and IT solutions, has reported consolidated revenues of $1.47 billion for the year 2008, up 3.5% on the previous year’s figure of $1.42 billion.

Francesco Violante, SITA’s Chief Executive Officer, said, “In the context of the worsening economic downturn, SITA performed well in 2008. Not only were overall revenues up at $1.472 billion but for the third year in a row we have won over $1 billion worth of new business. This is because IT and communications are now such an essential part of the daily operational life of the air transport industry and play a crucial role in managing costs and increasing productivity.

“A good example is e-ticketing. Last year the 75 airlines we support on our e-ticketing platform issued over 82 million e-tickets compared to just 10.6 million two years ago. This is a remarkable acceleration of a change that is saving the industry millions as online booking and paperless travel become more prevalent.

“We also saw a steep drop in lost baggage claims which went from 14.2 million in 2007 to 11.9 million last year. Again this is an enormous saving to the industry which is due not just to fewer items of checked baggage but also major improvements in baggage tracking and sorting enabled by both IATA’s Baggage Improvement Programme and SITA technology.”

Paul Coby, SITA’s Chairman and British Airways CIO and Head of Financial Shared Services, added, “Sixty years after it was founded in 1949 by the air transport community, SITA’s business model continues to respond with remarkable resilience to both changing technology and to global economic storms. The way SITA combines competition and collaboration as an entirely commercially-run cooperative with 550 members allows us to remain very close to our customers. Our constitution means we can uniquely address the industry’s common challenges on behalf of the entire air transport community.

“Even in these very difficult economic times, SITA has no debt, although we invested $79 million last year in product development for our customers, acquiring cargo system provider Softair, (through our subsidiary CHAMP Cargosystems), and the Australian border security company, CPS Systems. At our OnAir subsidiary we have also led the way in in-flight connectivity to allow the commercial launch of on-board mobile phone use. The industry can be proud that such an effective and innovative industry asset as SITA remains completely in the hands of our Community. Perhaps the SITA business model contains lessons for other industries in these difficult times?”

In 2008, the SITA management team achieved, or over achieved, on all their key performance indicators including: above target revenues of $1.472 billion; a pre-tax margin of $53 million; record new business of $1.184 billion; significant cost savings to SITA members, including price reductions of more than $50 million for network customers; and over 90% of customers were satisfied or very satisfied which was borne out by a customer renewal rate of almost 100%.

SITA’s full annual report for 2008 will be released at its Annual General Assembly (AGA) which takes place in Cannes, June 30. Immediately following the AGA, on July 1 the annual SITA Air Transport IT Summit, co-hosted with Airline Business, will release this year’s Airline IT Trends Survey results.

See other recent news regarding: Airlines, Aviation, Flights, First Class, Business Class, GDS, Miles, Hotels, Promotions, New Hotels, Visitor Arrivals, Cruises, Free Deals, SITA

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address above, or return to the Latest Travel News Asia main page to see all the latest headlines. You can also stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
Aviation Industry Update at AAPA 2015 in Bali.  Andrew Herdman is the Director General of the Association of Asia Pacific Airlines (AAPA) and this is the presentation he gave to a few select aviation journalists at The Ritz-Carlton, Bali on 12 November the day before the General Assembly of Presidents. Exclusive HD video interview with Ms. Titiya Chooto, General Manager of Anantara Siam Hotel (formerly the Four Seasons Hotel Bangkok). Exclusive HD video interview with the General Manager of the JW Marriott Hotel Macau, Mr. Brian Tong.
Aviation Industry Update Anantara Siam Bangkok JW Marriott Macau
Exclusive HD video interview with Julio Alonso, Director for Asia, Wines of Chile. Exclusive HD video interview with Mr Wayne Mak, Managing Director of Rhombus International Hotels Group Exclusive HD video interview with Mr. Jonathan Wigley, Founder and CEO of one of Thailand's most successful hotel management and ownership companies.
Wines of Chile - Julio Alonso Rhombus Int. Hotels Group Absolute Hotel Services
A very brief glimpse into one woman's amazing journey sailing from California to Terengganu in Malaysia Exclusive HD video interview with Ms. Ina Israel of Coco Beach Island Resort in Puerto Galera, Philippines Exclusive HD video with Ms. Kanyarat Tantiviwat (Tarn), Director of Sales at The Haven Khao Lak Resort in Thailand
Sailing from California to Malaysia Coco Beach Island Resort The Haven, Khao Lak
Exclusive HD video interview with Tin Kyi Min @ Yin Mon Oo, Director of Business Development of Mann Yadanarpon Airlines of Myanmar. Exclusive HD video interview with Executive Chef Hirofumi Imamura. The interview was filmed during the 16th World Gourmet Festival on 10 September 2015 at the Anantara Siam Bangkok Hotel (formerly the Four Seasons, Bangkok). Exclusive HD video interview with Art P. Boncato JR., Assistant Secretary of Tourism Regulation, Coordination and Resource Generation (TRCRG) at the Department of Tourism of Philippines
Mann Yadanarpon Airlines Chef Hirofumi Imamura in Bangkok Philippines Tourism
An exclusive HD video interview about the elegant Airbus A350 XWB with David Velupillai, Marketing Director for Airbus Corporate Jets at Singapore Airshow 2014 Exclusive HD video interview with Ms. Myat Myat Tun, Deputy Director (Reservation/Ticketing & Interline) Commercial of Air Bagan in Myanmar ATR Demonstrates 72-600 Flight Simulator During Singapore Airshow 2014
Airbus A350 Air Bagan (Myanmar) ATR Simulator
Inside Qatar Airways Boeing 787-8 Dreamliner - HD Video It takes 800 workers between 65 and 80 days to assemble, install, test, paint, furnish and deliver an Emirates Airbus A380. Showers, Bars, Lounge - The Emirates Airbus A380 Has Them All - HD Video Tour Thai Airways International Takes Delivery of Brand New Boeing 777-300ER
Qatar Airways B787 Emirates A380 Thai Airways B777-300ER
  • sample ad size - contact us to advertise here
Latest Travel News
© Copyright 1997 - 2015 - ASIA Travel - All rights reserved.