fuelling-losses-in-the-aviation-industry

Fuelling losses in the aviation industry

This yearÆs biggest talking points, the high cost of oil and the credit crunch, have pushed airlines into a painful position.

By Daniel Inman

September 01, 2008

This isnÆt a good year for the aviation industry. Airlines, like everyone else, have been caught off guard by the massive increase in oil prices. While Asian airlines had hoped to be cashing in on a growing number of passengers, they are instead concentrating on how to keep themselves in the air.

There have already been two Asian casualties this year the low-cost carrier Adam Air Indonesia and Oasis Hong Kong Airlines, which tried û and failed û to pioneer the budget model on long-haul flights. Even airlines that havenÆt been dealt a fatal blow are hurting. In July, Cathay Pacific Airways issued a profit warning, predicting that the financial results for the first half...

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