29 Jul '11, 4pm

Higher fuel costs could benefit budget #airlines: analysts - from @ChannelNewsAsia

Higher fuel costs could benefit budget #airlines: analysts - from @ChannelNewsAsia

SINGAPORE: Singapore Airlines (SIA) has been hit by a number of stock call downgrades by analysts. This comes a day after it announced weaker-than-expected results for its first quarter because of higher fuel prices. But experts said the high fuel costs could actually benefit budget airlines. During the March-June quarter, SIA's net profit dropped 82 per cent due to higher fuel prices. Experts warned that other airlines will face similar turbulence ahead. Paul Ng, global head of Aviation at Stephenson Harwood, said: "The situation is particularly dire for carriers that are predominantly wide-bodied, and carriers which are operating older aircraft like 5, 7, 10 years old because they will be less fuel efficient than competitors who are operating newer aircraft. "Obviously, operating new aircraft has its advantages because they are more fuel efficient. Operating large aircra...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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