Asian airline shares savaged despite oil crashing to 19-month low

Asia Pacific airline shares endured a bout of heavy selling on 06-Nov-08, despite the oil price falling to its lowest level since Mar-07 on gloomy economic forecasts. The IMF is now forecasting global economic growth will slow from 5% in 2007 to 3.75% in 2008 and to 'just over 2%' in 2009, with the advanced economies slipping into recession - the first such coordinated contraction since World War II

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