Peter Harbison Quotations

Last year's boom in aircraft orders, which reached record levels, suggests that a cyclical bust is not far behind.

As the airline industry is in the front line of economic indicators, any change will be quickly felt.

There's a market there, but it would be difficult for anyone...you can't run an airline on one route.

It's fairly telling to say that there have been 55 years of aviation in Australia where there's never been more than two airlines that have been able to keep a hold on the market on a national scale.

In any event, 2006 should be the lull before the storm - a rare opportunity for the aviation sector to consolidate ahead of the challenges likely in 2007 as fleet deliveries escalate, new products enter the market and pressures intensify on manpower costs, competition, capacity and yields.

I didn't see how it could work because we have a price-sensitive market and price dominates on sectors of an hour. People just aren't that fussed about comfort and Australia's not really that big on prestige and being seen to be travelling business class. If they can save 50 per cent on the fare, they'll save 50 per cent on the fare.

The culture is the hardest to address. That's the belief that the government will support and bail them out. Across the region, governments are getting bailout burnout.

The Chinese have got to the stage where they have enough skilled people to do this work they've been getting to that for a long time with joint ventures and they're now picking up larger amounts of third-party work.