‘Flying to be more expensive with higher fuel prices and sustainability perspectives’ – The Peninsula

‘Flying to be more expensive with higher fuel prices and sustainability perspectives’ – The Peninsula

Chief Financial Sector Officer at the Qatar Financial Centre Authority (QFCA) Henk Jan Hoogendoorn

Flying will be more expensive for air travellers amid higher fuel prices and as the aviation industry increasingly sets its sights towards sustainability, according to officials featured at the 8th IATA World Financial Symposium which concluded in Doha recently.

Speaking during a session on ‘Major Economic Risks Facing the World’, Chief Financial Sector Officer at the Qatar Financial Centre Authority (QFCA) Henk Jan Hoogendoorn discussed the major economic risks facing the aviation industry including inflation, interest rates, fuel prices, labour costs and availability, as well as geopolitical risks and climate risk.

Speaking to The Peninsula on the sidelines of the event, Hoogendoorn reiterated that the airline industry will demand more fuel efficient planes which are more environmentally friendly and sustainable.

He said: “People will be more and more environmentally responsible. So airlines are forced into let’s say taking biofuel, sustainable aviation fuel (SAF), or even electrical planes in the future. In general, the airlines need to increase the ticket prices, because flying will not be cheap in the future. Otherwise, airlines cannot make a profit. So we have to take into account that flying is expensive, and responsible".

According to market