Airlines must look at alternative fuels to boost efficiency: IATA

0 Comments | AFP, July, 2006

GENEVA (AFP) — Airlines must adapt to high oil prices and consider alternative fuels and other innovations to regain profitability despite a 6.7-percent growth in passenger traffic in the first half of 2006, the top industry association has said.

Airlines are still battling for financial prosperity despite growing revenues and better load factors in the first half of the year, the International Air Transport Association (IATA) said in a statement Thursday.

"Change is urgent and now is the time. Airline efficiency gains must be matched throughout the value chain. And we must find new ways of doing business," said IATA Director General Giovanni Bisignani.

"The bottom line is all about oil. Prices continue at near record levels and we expect a fuel bill of 112...