Association Of Asia Pacific Airlines News
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China’s skies don’t have enough space.
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Asian airlines expect cargo demand to slow as rising U.S. inventories and waning growth in Europe curb shipments of electronics and luxury goods.
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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.
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Asian airlines’ local demand let them weather the worst global travel slump since World War II. The carriers are now looking for growth in Europe and the U.S. to help fill planes next year.
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The International Air Transport Association almost doubled its 2012 loss forecast for European airlines and said the continent’s debt crisis could wipe out an expected global profit.
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Airlines began returning thousands of stranded travelers to Europe as airports in the U.K., France and Germany re-opened following a shutdown caused by a cloud of volcanic ash.
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Hong Kong Airlines Ltd. , part of the city’s second-largest carrier group, is studying the feasibility of an initial public offering, President Yang Jiang Hong said.
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Pan Pacific Hotels Group Ltd. Chief Executive Officer Patrick Imbardelli said retaining employees in markets including Bali, Myanmar and Manila is the Asian hospitality industry’s greatest challenge.
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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.
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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.
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