There are some interesting changes and shifts on the horizon for aviation in 2019. We have to admit, 2018 was an interesting year for aviation. But 2019 is already proving to be even better. Here are some upcoming trends to look out for this year.
Big players like Amazon
Amazon has made it clear they plan to expand into the transportation space significantly this year. Amazon saw huge success by making their own deliveries with ground transportation. Forbes projects by the end of 2019 Amazon’s Prime logistics will have all the pieces of a major integrator, like UPS and FedEx (5th largest fleet in the world?): aircraft, distribution centers, last mile delivery, scalable IT platform and customer contact.
New segmentation will start to infiltrate the U.S. airline industry. Discussion around overcrowded airlines will soon drown out as basic economy, premium economy and other categories make their way on to flights.
Stability and growth
With financial and operational stability, 2019 will prove to be a profitable year for the aviation industry. Demand continues to grow for aviation professionals so if you’re thinking of a career in aviation, you couldn’t have picked a better time. Don’t forget to look at Baymac for tailored services for aviation professionals, such as health insurance plans.
Changes by the IFRS
The IFRS (International Financial Reporting Standards) brings financial information to investors on the global scale. IFRS is requiring companies to bring most leases on-balance in 2019. This new standard – IFRS 16 – will enable analysts to see a company’s own assessment of its off-balance sheet lease liabilities. The new standard covers commercial aircraft.
We’re sure 2019 will have its own unique challenges and struggles, as well as victories and advances. Aviation in 2019 will continue the core theme of the aviation industry – rise and success.