Aviation 2017: What This Year Holds in The Aviation Industry

Thanks to the aviation industry, traveling from one continent to another is becoming less like a privilege, and more like an essential.

Air travel has changed and empowered both personal and professional aspects of our lives.

Though filled with political turmoils, 2016 was a great year for the commercial aviation industry. Reports show positive returns on invested capital.

While air travel is there to stay, it’s always in a ready mode for changes and innovations.

Hence, it’s crucial for airline executives and carriers to stay on top of the latest developments. They can influence and transform the air transport industry.

Let’s take a closer look at the aviation 2017.

1. The New “Basic Economy” Fares

Major U.S. airlines, including Delta and United, have rolled out the new basic economy fares.

This new fare option has limited flexibility and comfort. Basic Economy passengers only get their seat arrangement after check-in or at the gate.

The catch is these are about 3 times cheaper than the economy standard ticket prices. So if you don’t mind being the last person to board and leave the airplane, take this deal.

2. Automation

Though automation has been around in the air travel sector, we can expect more of this on a larger scale in the coming years.

We all dread airport queues. It’s time-consuming and inefficient.

The outlook on aviation 2017 consists of a more streamlined and pleasant flying experience. Many airlines now are offering automated check-in. This allows passengers to skip the tedious ticketing process.

3. Artificial Intelligence (AI)

AI is perhaps one of the most talked-about technologies over the past year. Its potentials are tremendous. AI helps improve a business’s efficiency, enhance user experience, drive down costs, and increase the bottom line.

AI is not a matter of if, but when.

For instance, the low-cost carrier easyJet has been using AI for predictive analysis. This allows the company to gain unique insights into consumers’ needs and better plan for the future.

4. Blockchain Technology

Blockchain technology is another tech-related trend airline executives should pay attention to.

Known as a Bitcoin technology, a blockchain uses cryptographic techniques and a distributed messaging protocol. This creates shared ledgers that decentralize reconciliation-based process.

Blockchain technology enables more secure, durable, and consistent online transactions and data sharing.

Beyond financial transactions, players in the aviation industry can use blockchain technologies to explore opportunities and create values in other business processes. This includes ticketing, loyalty program, security and identify management, and maintenance.

Aviation 2017: A Final Look

The price of fuel is expected to rise in 2017 (it’s currently at around €52 per barrel). Yet, according to the IATA, the global airline industry will continue to show strong performances. It has a projected net profit of $29.8 billion.

Taking everything into account, 2017 is looking bright for airline carriers. One thing we know for certain: companies that embrace changes and take advantages of the new technologies will win the customers’ hearts.

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