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
Jln. By Pass Ida Bagus Mantra,
Jln. Pucuk 1 No. 70X
Denpasar, Bali
Indonesia

24h:
+62 (0)812 3819724
Tel:
+62 (0)361 464 032, +62 (0)361 471 0242

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
Trans-national Crime Bust in Bali
Bali Police Arrest 64 Foreigners at Four Locations Involved in Cybercrime Syndicate
(1/15/2018)
Bale Banjar Culture Club Shapes Up for 2018
Monthly Program of Popular Cultural Lectures Continue at Ayodya Bali Resort in Nusa Dua
(1/15/2018)
Pray, Go to Prego
Sunday Brunch at Prego at The Westin Resort Nusa Dua, Bali a Fun-Filled Family Affair
(1/15/2018)
Say ‘Yes’ to Nyonya
Exceptional Value at Perankan Lunch Available Every Sunday at Rumah Luwih Hotel on the IB Mantra Highway in Bali
(1/15/2018)
Unlicensed to Steal
Government Cracks Shuts Down Illegal Company Selling Property to Foreigners in Petitenget, Bali
(1/15/2018)
Mountainous Radiuses Radii
Controversy Brewing Over Reduction of Size of Exclusion Zone Surrounding Mount Agung Volcano
(1/15/2018)
Shores in Need of Shoring
Klungkung Shoreline Under Severe Threat from Erosion
(1/15/2018)
Indonesia Waives the Rules and Rule the Waives
Indonesia’s Newest Destroyer KRI I Gusti Ngurah Rai Inaugurated in Bali
(1/15/2018)
Take Two Tablets, Moses!
Six Balinese Men Face Possible Legal Action for Spiritual Quest to Mount Agung’s Crater
(1/15/2018)
An Annual Cycle for Cycles
600-kilometer ‘Tour de Indonesia’ Bicycle Race to Cross the Finish Line in Bali on Sunday, January 28, 2018
(1/15/2018)
From Salty to Sweet
Water Board Wants Crackdown on Hotel’s Desalinating Sea Water without Required Permits
(1/15/2018)
Dominion Over Earth and Heavens Above
Indonesia Serious Abut Preventing Foreign Intrusion into its Air Space
(1/15/2018)
All [News]!