Singapore Airlines Ltd. , Cathay Pacific Airways Ltd. and other Asian airlines will likely post the first region-wide profit in three years as the economic rebound spurs traffic to pre-recession levels, a trade group said.
Cathay Pacific Airways Ltd., the Hong Kong carrier expecting a record annual profit, will increase passenger capacity 11 percent next year as the economic pickup stokes demand for premium-class travel.
Excluding emissions from shipping and aviation from U.K. government budgets for carbon-dioxide output would lower the nation’s climate protection ambition, according to the nation’s Committee on Climate Change.
Cathay Pacific Airways Ltd., the largest carrier of international air cargo, said it has seen only a small increase in freight ahead of the Christmas shopping season, prolonging an 18-month downturn in industry volumes.
Chinese airlines are in an “intolerable” position because of a spat between the country and the European Union over emissions levies, said Tony Tyler, the head of the International Air Transport Association.
Asian air cargo volumes are set to rebound this year from the worst slide since the global financial crisis as a strengthening U.S. economy and demand for products such as Apple Inc.’s new iPad revive exports.