- Loss of customers – The Icelandic ash cloud of 2010 cost airlines millions of dollars in extended business interruption, despite the fact that there was no physical damage to assets.
- Talent and skills shortages – “In next 20 years, airlines will need to hire and train 460,000 pilots and 650,000 maintenance technicians,” said Plumeri who pointed out that Asia is already experiencing delays due to pilot shortages.
- Currency and price fluctuation – “Fuel represents nearly 40 percent of an airline’s cost base and is purchased in dollars,” explained Plumeri who said that airlines could be at the mercy of unsustainable oil prices, should the political confrontation with Iran over UN and other sanctions escalate.
- Changing legislation – Plumeri mentioned the EU offsetting charges for CO2 emissions being imposed unilaterally on airlines not based in Europe.
Willis Chief On Non-Traditional Risks Facing Airlines
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