Arab Today, arab today asian carriers more cautious with orders
Last Updated : GMT 10:42:23
Arab Today, arab today
Arab Today, arab today

Asian carriers more cautious with orders

Arab Today, arab today

Arab Today, arab today Asian carriers more cautious with orders

Asian airlines which were famed in the past for multi-billion-dollar orders
Singapore - AFP

Asian airlines which were famed in the past for multi-billion-dollar orders have become more cautious in the face of thinner profits and a global economic downturn, a Boeing executive said Monday.

"Nobody has come to us and asked for any deferral," said Dinesh Keskar, senior vice president for sales at Boeing Commercial Airplanes covering the Asia-Pacific and India.

But Keskar, speaking on the eve of the Singapore Airshow, said the time for big-ticket orders may be over, replaced by smaller buys with shorter replacement cycles.

"From the Boeing point of view, we are in a good spot," said Keskar,

"In terms of the low-cost carrier market, our big customer here (in Southeast Asia) is Lion Air. We have delivered 165 airplanes for them and they continue to take deliveries on time," he told reporters.

"When we look at airlines like Virgin Australia, Jet Airways or Spice Jet in India all of them are doing fine. In fact some of them want their airplanes early, and our backlog is over 5,000 airplanes now so it's difficult to accelerate anybody's airplanes."
However, airlines had become more cautious.

"You haven't seen any substantial orders from this part of the world (recently) and I think there was a time when a hundred-plane order was considered the fashion. It isn't the case right now," Keskar said.

In August last year, Indian airline IndiGo confirmed an order for 250 A320neo planes from Europe's Airbus in a deal worth $26.5 billion at catalogue prices at that time.

Tony Tyler, director-general of the International Air Transport Association, said Sunday some airlines in the region may try to push back their orders due to softer profits.

He said that while airlines worldwide are expected to deliver $36 billion in profits this year, up 10 percent from 2015, the majority of this would be coming from North America.

Speaking at an aviation conference on Monday, Tyler said Asia-Pacific carriers are expected to generate $6.6 billion in profit this year, equating to just over $5.0 per passenger, compared to $21 per passenger in North America.

Airline savings from low fuel costs are being eroded by hedging losses and a strong dollar, Tyler said, noting that the greenback climbed 20 percent over the past 18 months.

With the Asia-Pacific accounting for 40 percent of global air cargo, regional carriers have been hit badly by the global economic slowdown, worsening the impact of competition from Gulf carriers, the IATA chief added.

Over the long term, however, the region's prospects are buoyant, according to Boeing's Keskar.

Airlines worldwide will need 38,050 new planes valued at $5.6 trillion in the next 20 years, with Asia accounting for 38 percent of the deliveries, he said.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian carriers more cautious with orders Arab Today, arab today asian carriers more cautious with orders

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian carriers more cautious with orders Arab Today, arab today asian carriers more cautious with orders

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday