Airlines: IATA will deliver its global outlook today in Spore, and it is widely believed that they will revise down profit forecasts further, after the CEO’s comment that the industry was now “less optimistic”. This comes on the back of high fuel costs, natural disasters (Japan) and political unrest (Middle East) offsetting the economic recovery. Japan’s int’l traffic was down 20% in Apr, shaving 1% off total international travel...
In Mar, IATA downgraded the industry profit outlook to US$8.6b, vs last year when global airlines posted a combined profit of US$16b.
Nevertheless, IATA acknowledged some uplifting signs such as high business confidence, a demand growth of 3-4% and overall load factors holding steady at ~77%.
SIA: an SIA Airbus A380 flight with ~400 pax, was forced to land in HK Sunday after experiencing technical problems with the landing gear. Co said engineers have rectified the problem and the aircraft has returned to Spore.
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