Airlines must ‘build resilience’ says Willis boss

Airlines face a number of threats, according to Willis boss Joe Plumeri.

Speaking at an aviation conference in China, Plumeri said that reputational risk was likely to be the hardest risk for airlines to manage in the future.

“While a reputational crisis can destroy a company’s value, massively and almost instantly, they are virtually impossible to predict,” he says.

In order to be prepared for such risks, Plumeri urged airlines to focus on building resilience in their company rather than simply trying to anticipate risks that the organization might become exposed to.

“By having a risk management policy based solely on anticipation, a company will find that they are not fast or flexible enough to respond to a complex, interconnected and rapidly changing world.

As much as any other industry, aviation needs to anticipate the worst, but to build resilience,” he says. Plumeri said that other risks included: