ASIA Travel Tips.com

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 s
tay 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.
     
HD video of a Deluxe Room, Regency Club Room and a Suite at the Hyatt Regency Hua Hin and The Barai in Thailand ThaiVietjet - Exclusive Interview with Dr. Nguyen Thanh Hung, Chairman - HD This exclusive HD video interview with Mr. Vincent Hoogewijs, Regional Vice President and General Manager of the Four Seasons Hotel Bangkok, took place on 2 May 2014
Hyatt Regency Hua Hin ThaiVietjet Chairman Four Seasons Bangkok
Making a Difference: Hansar Hotels and Resorts' CSR Initiatives - Interview with CEO HD video tour of a Sea View and a Sea View XL Room at the luxurious Hansar Samui in Thailand ATR Demonstrates 72-600 Flight Simulator During Singapore Airshow 2014
Hotel CSR Hansar Samui ATR Simulator
Anantara Bangkok Riverside - Exclusive HD Video Interview with GM, Nikolaus Priesnitz GECAS to Lease 10 New Boeing Aircraft to Myanma Airways An exclusive HD video interview about the elegant Airbus A350 XWB with David Velupillai, Marketing Director for Airbus Corporate Jets at Singapore Airshow 2014
Anantara Riverside Myanma Airways Airbus A350
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
Latest Travel News
Advertising
Advertising
Contact Details | Privacy | About Us | ASIA Travel Tips.com © Copyright 1997 - 2014 - ASIA Travel Tips.com - All rights reserved