Willie Walsh, British Airways' chief executive talks to Flight, in Istanbul on the fringes of the IATA annual general meeting, about oil prices and its impact on the industry.
He says, in the video below, that with a softening economic environment and high oil prices, "it's inevitable [fare] prices will have to go up".
"We're definitely, as an industry, in a crisis situation and a lot of people are going to struggle. We're in uncharted waters but I'm pleased that we're going in to this position with relative financial strength."
VIDEOS: IATA AGM 2008 - Watch all the latest interviews from Istanbul