Tony Tyler News
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Changi Airport, Southeast Asia’s largest freight airfield, plans to attract more gold bars, tuna and vaccines to Singapore as it seeks to increase handling of high-value cargo to make up for slowing trade.
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Indonesia started investigations into at least its fourth aircraft accident in 16 months after a Boeing Co. 737-800 passenger jet operated by PT Lion Mentari Airlines, which is banned from flying in Europe, crashed into the sea off Bali’s international airport.
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Cathay Pacific Airways Ltd. Chief Executive Officer Tony Tyler will leave after three years in the job having navigated the slump, extended the carrier’s reach in China and outshone Singapore Airlines Ltd. in the stock market.
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Indonesia started investigations into at least its fourth aircraft accident in 16 months after a Boeing 737-800 passenger jet operated by PT Lion Mentari Airlines, which is banned from flying in Europe, crashed into the sea at Bali’s international airport.
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Airlines will exceed last year’s earnings by about 40 percent in 2013, with net income likely to reach $10.6 billion, as sales growth outpaces higher fuel costs and improves the outlook for the industry globally.
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The grounding of Boeing Co.’s 787 Dreamliners is causing a “huge problem” for some airlines, the International Air Transport Association’s Chief Executive Officer Tony Tyler said.
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Airline profits forecast to total $28 billion in the three years through 2012 may be unsustainable as over-capacity and looming regulatory costs weigh on margins, the head of the IATA industry association said.
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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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The following are the day's top business stories:
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Cathay Pacific Airways Ltd. aims to replicate its business-class strategy in a cargo trade upgrade. It wants to fly more diamonds and medicines rather than T-shirts.
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