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
Stranger, Now Gardening in Paradise
Made Wijaya – Australian Who Adopted an Island that Also Adopted Him – has Died in Sydney Australia
(8/28/2016)
Mass Insanity
Bali Put on Guard Following Failed Bombing Attack on North Sumatra Catholic Church
(8/28/2016)
The Risk of Lending Your Name
'Tax Amnesty' Complicates the Position of Nominee Property Owners in Bali
(8/28/2016)
Hog Heaven?
East Bali Farmer Spends His Days Going Door-to-Door with his Pig on a Leash
(8/28/2016)
Bring Your own Plane to Indonesia
Indonesia Declares Intent to Ease Application Process for Private Aircraft visits
(8/28/2016)
Can Ye Run Faster than a Kenyan?
Kenyan Julias Kangethe Mbugua Overall Winner of 5th Maybank Bali Marathon. More Race Results
(8/28/2016)
Spice and Everything Nice
Bali Restaurateur to Open Second Spice by Chris Salans in Sanur in September 2016
(8/28/2016)
Classical Elegance Comes to Bali
Pascal and Ami Rogé to Perform Classical Piano Pieces at Ubud and Kuta Padma Resort on September 10-11, 2016
(8/28/2016)
Passage from India
Indonesia Tourism Ministry Says Indian Arrivals will Increase with Direct Flight Connections
(8/28/2016)
Trial for Errors
Evidence Files for Foreign Couple Charged with Killing a Bali Policeman Set to be Handed to State Prosecutor
(8/28/2016)
See Indonesia by Sea
PT Pelni Promoting Cruise Programs on its Fleet of Vessels to Selected Indonesian Destinations
(8/28/2016)
Ships Ahoy!
Tourism Minister: Urgent Need to Deregulate Marine Tourism
(8/28/2016)
All [News]!