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http://marketsandbeyond.blogspot.com/ http://www.pcgwm.com/ 2. Airline industrys challenges Environmental concerns project a negative image to the public and induce new and costly regulation (EU). The return on invested capital is awful compared to the weighted average cost of capital (3.5% investor value loss in 2011): the industry as a whole is a serial destroyer of shareholders value. Fuel cost is persistently high (kerosene x 4 over 10 years). The industry is not profitable (cumulated P&L between 2003 and 2011 is zero) with net post-tax profit margins forecasted in the very low single digit in 2012 and 2013. The world economy remains weak and may impair international trade, a key driver of airlines growth. The industry is moving as much as possible towards the use of electricity in airplanes.
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3. Innovation Per minute, most of the fuel is consumed during taxiing (1%) and takeoff to cruise altitude (14%) for a 747 Boeing 8 hours flight time. The ratio is obviously worse for short hauls (majority of flights). As for any industry, electricity has eventually always replaced fossil fuel, technology and economics permitting. Electricity is much cheaper than kerosene, the magnitude varying depending on countries. A rough calculation results in a USD 35 billon economy a year to airlines if it were to use
http://marketsandbeyond.blogspot.com/ http://www.pcgwm.com/ electricity instead of kerosene as an energy source, making the industry from one of the economically worst possible to a profitable one on a consistent basis. For example, SAFRAN, the French engineering company, recently designed an electric system to avoid using kerosene during taxiing. Research in dramatically improving energy density of batteries is also advancing with Lithium-Air batteries theoretically being able to reach an energy density close to kerosene (we are 5-10 years away). Further down research is also focusing on totally new architecture for quantum batteries. I came across a video from a TEDx conference held in Geneva in November 2011 about 100% electric turbojets, called Turboarcjet. I found this presentation from a young physicist fascinating even if it is a long way down the road, but I would love to fly with an all electric airplane. www.youtube.com/watch?v=N27yYgL-iIg Source: TEDx conference: Empowering the Limitless Mind Thinking Outside the Box: Turboarjects http://www.youtube.com/watch?v=N27yYgL-iIg IATA: Financial forecast and statistical data http://www.iata.org/ Slideshare: Introduction to the Global Air Cargo Market http://fr.slideshare.net/xiaoxiang/air-cargo-101#btnNext Jon Petersen: Air Freight Industry White Paper http://www.efiko.org/material/Air%20Freight%20Industry%20Whitepaper%20by%20J.%20Peters en.pdf SAFRAN: Electric Green Taxiing System http://www.safranmbd.com/systems-equipment-178/electric-green-taxiing-system/?lang=en