AACO 42nd AGM AACO Annual General Meeting was held in Jeddah, Saudi Arabia, under the Patronage of HRH Prince Sultan Bin Abdulaziz Crown Prince, Deputy Premier, Minister of Defense & Aviation and the Inspector General, and under the presidency of H.E. Eng. Khalid Abdullah Almolhem, Director General of Saudi Arabian Airlines. The Annual General Meeting was organised around three working sessions held at “Jeddah Hilton” hotel on 18th October 2009. The AGM was attended by AACO member airlines’ Chief Executive Officers and representatives from 45 leading aviation companies, partners with AACO, ranging from aircraft and engine manufactures to aviation consultants, from fuel suppliers and leasing companies to GDSs, IT solutions providers, from ground handling services providers to payment gateways and others, with the participation of international and regional organizations and air transport experts. The AGM received the Annual Report and the 2009 Arab Air Transport Statistics (AATS) publication of AACO, which were presented by AACO Secretary General, Mr. Abdul Wahab Teffaha. The General Meeting started with paying a tribute to Capt. Tawfik Assy, Former Chairman & CEO of EgyptAir Holding Company, and Former AACO Executive Committee member, on the occasion of his retirement from his post. The AGM then listened to AACO Secretary General’s report on industry issues. In his report, the Secretary General focused on key issues that are essential to the future course of the Arab Air Transport Industry; among them the Global Economic Crisis, the Arab Regulatory Framework, the Environment and Industry’s Role in Environmental Protection, in addition to the milestones of AACO’s work. More specifically, Mr Teffaha emphasized that the air transport is an industry afflicted by structural problems. He stressed that the balance between supply and demand must be struck in order to achieve a return of investment. He also added that: “What is true on a global scale is truer on the… more
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