Saturday, January 31, 2015   

Airline industry slashes profit forecast by US$1b
(03-12 18:59)

The global airlines industry has lowered its profit forecast for 2014 due to rising jet fuel prices, but says Venezuela's financial policy, Ukraine's political upheaval and a vanished Malaysia Airlines plane add to the uncertainty in its outlook.
Tony Tyler, director-general and chief executive of the International Air Transport Association, says profit this year is expected to be US$18.7 billion, a downgrade from the US$19.7 billion it forecast in December, as fuel prices have been higher than expected since then. The profit figure is still above the US$17.3 billion record the industry earned in 2010.
Tyler said in Geneva other challenges to the industry include Venezuela blocking airlines from repatriating US$3.7 billion, Ukraine's instability pushing up oil prices and the disappearance of Malaysia Airlines Flight MH370.—AP

   
Other Business breaking news:
Eurozone deflation accelerates in January (01-30 18:10)
German retail sales grow for fifth year in row: data (01-30 17:32)
Spanish economy grows by 1.4 percent in 2014: stats office (01-30 17:19)
Taiwan's economy slows in fourth quarter 2014 (01-30 17:03)
European stocks rise at open (01-30 17:02)
Hang Seng ends lower (01-30 16:16)
Honda cuts full-year profit forecast (01-30 15:14)
Japan's biggest airlines project smooth annual earnings (01-30 15:13)
Nikkei finishes higher (01-30 15:01)
Japan unemployment rate down in December (01-30 12:23)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.