Asia Pacific Airlines Expected To Lose Around US$4.8 Billion This
Year - AAPA
SINGAPORE -(Dow Jones)- The Association of Asia Pacific Airlines said Thursday
that Asian airlines are expected to lose about US$4.8 billion this year as a
result of the global economic downturn.
"Asian airlines as a group are expected to record another year of heavy losses
on top of the US$4.3 billion suffered in 2008," Andrew Herdman, AAPA's director
general, said.
"We are looking at around US$4.8 billion loss this year," he told reporters.
AAPA said in a statement that Asian airlines remain uncertain whether "signs
of a fragile recovery in passenger and cargo volumes will prove to be
sustainable."
Herdman said that for the first 10 months of this year international passenger
numbers were down 8.2% for AAPA members, while air cargo experienced a 16.5%
decline on year.
AAPA said in a statement that preliminary passenger numbers reached 11.1
million in October, slightly higher than in September but still 3% below the
levels a year earlier.
Air cargo traffic was 2.5% lower on year, which was the smallest shortfall so
far this year.
"AAPA leaders have to steer a difficult course over the next year, both
tightening management costs and closely monitoring what still appears to be a
fragile economic recovery," Herdman said.
AAPA consists of 17 airlines including ANA, Cathay Pacific, China Airlines,
Singapore Airlines, Qantas, Philippine Airlines, Japan Airlines and Garuda
Indonesia.
-By Costas Paris, Dow Jones Newswires; 65 6415 4151; costas.paris@dowjones.com
(END) Dow Jones Newswires
11-19-090212ET
Copyright (c) 2009 Dow Jones & Company, Inc.
|