As the growth engine of the global economy, the aviation sector not only consists of challenges arising from the competitive environment; it also offers us many opportunities to build on our leading role. Our assumption is that today’s growth markets will become even more important in the future. In terms of traffic volume for instance, the Asian region will have caught up with the Western core markets North America and Europe by 2020.
Capacity growth in the passenger business will be accompanied by selective reductions of specific overcapacities and the consolidation of the industry. At the same time, we assume that the pressure of competition from Middle Eastern carriers and no-frills airlines is set to increase.
We still need to combat competitive pressure with a set of measures that include improvements to competitiveness and cost structures as well as greater focus in route networks and selected strategic partnerships.
Our aim is to participate in the additional demand for services in the passenger and cargo business and thereby to maintain our course of profitable growth. To do so, we constantly evaluate all our options: opportunities for organic growth, partnerships and also selective acquisitions. New aviation technologies will make it possible to optimise services to existing and new long-haul destinations on the one hand and on the other to improve cost structures and competitiveness on short-haul routes as well. We continue to expand our network alongside our alliance partners and to develop trendsetting commercial relationships. Selective acquisitions of strong brands also allow us to reinforce our competitive position in strategic regions, gain access to semi-regulated markets and to play an active role in the consolidation of the industry.