Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · The Coming Worldwide Downturn in Travel?
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

The Coming Worldwide Downturn in Travel?

Singapore Airline Profit Downturn: Another Worrying Sign that Worldwide Travel May be on a Downhill Slope?


Bali News: Indonesia, Bali, Singapore Airlines, SIA, Profits, European Travel, AirAsia, Garuda, Eurozone, travel recession
Click Image to Enlarge

(2/6/2012)

The Associated Press report that Singapore Airlines LTD (SIA) saw profits plunge 53% in the last quarter of 2011, a downturn attributed to rising fuel costs and slowing passenger demand worldwide.

SIA booked a profit of SG$ 135 million (US$108 million) as compared to SG$ 288 for the same quarter one year earlier.

"Forward bookings continue to show signs of weakness in the final quarter of the financial year, due to uncertainty in the global economy and the protracted Eurozone debt crisis," a company spokesman said.

Revenues for the quarter increased one percent to SG$3.9 million, a very modest growth in turnover that was greatly outpaced by a 12% increase in expenditures to SG$3.7 billion. Adding to the growing expense totals were fuel costs that grew 33% over last year and accounted for 40% of all expenditures.

According to information provided by the International Air Transport Association (IATA), airline profits worlwide are predicted to fall to US$3.5 billion this year, down dramatically from the US$6.9 billion booked in 2011.

Unfortunately, Singapore Airline's performance may portend a dismal outlook for international travel generally. The Singapore carrier is generally credited as one of the world’s best-managed carriers with an unparalleled worldwide network of routes. Because of this, SIA’s performance can arguably taken an indicative of the overall health of the global airline industry as a whole.

The Singapore Airline report follows an announcement by AirAsia to end its services to Europe and India citing declining demand, rising fuel costs, and inimical regulatory and tax regimes. Meanwhile, Garuda Indonesia announced that due to poor passenger demand they are reducing flight frequencies to Amsterdam.

Related Articles

[European Travel to Bali in Eclipse?]

[AirAsia Axes Flights to Europe and India]


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
All Eyes Point to Mt. Agung
Mt Agung Volcanic Status Now at the Highest Alert Level
(9/22/2017)
Bad Government Served as a Signature Dish
Regent of Karangasem Blamed for Causing Public Panic by Issuing Incorrect Information on Volcanic Mount Agung
(9/22/2017)
A Yen for Murder
Police Arrest 25-Year-Old Freelance Balinese Driver in Brutal Killing of Elderly Japanese Couple
(9/19/2017)
Warning Levels Increased for Mount Agung
Breaking News: Mount Agung Status Upgraded to ‘Siaga – Level 3’ - Second Highest Level of Alert.
(9/18/2017)
Caught in the Act
Two Bulgarians Arrested in Lovina, North Bali, Robbing an ATM Machine
(9/18/2017)
St. Regis Bali Resort Turns Nine
St. Regis Bali Resort Offers Nine Courses By Nine Chefs At The Cloud Nine to Celebrates Turning Nine on October 27, 2017
(9/18/2017)
London to Jakarta in a Single Leap
Garuda Offers Thrice Weekly Non-stop London to Jakarta Flights Starting October 31, 2017
(9/18/2017)
An End to Bali Connection to Townsville, Australia
Jetstar to Halt Townsville to Bali Flights on March 21, 2018
(9/18/2017)
Honors for Bali’s Governor
Governor Receives Award from Retired Police Officers Association for Service to the Nation
(9/18/2017)
Keep it Green, Keep it Local
Bali Restaurateur Chris Salans Works with Bali Farmers to Maximize the Use of Local Produce and Food Ingredients
(9/18/2017)
Sanur First! Traveloka Maybe Never!
Indonesian Online Travel Company Traveloka Roundly Condemned for Desecrating Panorama on Sanur Beach in Bali
(9/18/2017)
Airborne Temples and Volcanoes
AirAsia Indonesia Adopts New Livery Design for its Airbus 320s Emulating Indonesian Iconic Destinationsns
(9/18/2017)
All [News]!