16 Dec '11, 11am

Economic turbulence to slash profit of #aviation industry - from @ChannelNewsAsia

SINGAPORE : The aviation industry has been racked by economic turbulence this year. Natural disasters, escalating fuel costs, and debt troubles in Europe have shaved profits for almost the entire industry. Industry profits are likely to be slashed by half in 2012 from US$7 billion to US$3.5 billion. According to the International Air Transport Association (IATA), while the outlook for the industry is bleak, low-cost carriers may survive 2012 in better shape than their full-service brethren. It says under a worse case scenario for the European economy, the global aviation industry could suffer losses exceeding US$8 billion. Asia Pacific carriers are expected to deliver the largest profit at US$2.1 billion, boosted very much by strong domestic demand from China. IATA adds that this is weaker than 2011's performance but the deterioration is limited by high load factors on mar...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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