The Swiss bank UBS has hit on a novel idea for airlines to save money, as much as $35billion a year - by taking away the pilots!
Yes, according to research released today UBS thinks pilotless planes are the way forward, "Reducing the intervention of human pilots on aircraft could bring material economic benefits and improve safety," UBS analysts wrote in a report published Monday.
In basic terms of material economic benefits, number-crunching analysts at UBS advise that there could be a material profit opportunity of more than $35 billion per year for the aerospace and aviation industry. To unlock these massive savings the Swiss bankers suggest the aviation sector would need to explore a number of elements, for example, how airlines could benefit from lower operating and training costs, reduced fuel costs and lower insurance premium costs. Overall, they believe ditching the pilots could save $26 billion a year.
"The opportunity, we believe, would be dependent on the timing of the roll-out of pilotless planes and we think it is likely we would initially see cargo the first subsector to adopt new related technologies, with the number of pilots falling from two to one and eventually from one to none," UBS said.