Yearbook 2003 cargolux Association of European Airlines Association of European Airlines Avenue Louise 350 B - 1050 Brussels Tel. +32 (0)2 639 89 89 Fax 639 89 99 E-mail
[email protected] July 2003 Dear Reader of the AEA Yearbook, The AEA Yearbook has always been During my chairmanship of the AEA in _________ the benchmark for the European 2003, we have undertaken a root and aviation industry. It is a source of branch review to raise awareness of its information on current trends supported role and effectiveness as an industry by facts, figures and careful analysis. body. The web-site has been revamped and well received and our This yearbook is no different. communications have greatly improved. It seeks to outline and explain the impact on our industry of one of the Without doubt, this has been a very toughest periods in the history of critical year for the industry as a result aviation. of external pressures - the continued threat of terrorist activity, the Iraq war Against a background of global and the weak global economy. economic slowdown, the war with Iraq, However, it has also been an historic and SARS, global airlines have year. The European Commission has suffered four consecutive years of been granted the mandate to negotiate losses and no growth. a new air treaty with the US. If it comes to fruition we will achieve true The continued crisis however, has been liberalisation and create a vibrant, a catalyst for change and it has competitive market which the AEA has energised us to develop new solutions long called for.