12-Nov-2012 1:40 PM

AAPA: Airline profits are just USD1 per passenger

Association of Asia Pacific Airlines (AAPA) director general Andrew Herdman said (09-Nov-2012) airlines will make a profit of just USD1 per passenger in 2012, with an industry profit margin of less than 1% and overall industry profits of just USD4 billion. Industry margins have been "relentlessly squeezed by high oil prices". Mr Herdman said the past 12 months has proven to be pivotal for the entire industry, with enterprising Asia Pacific carriers at the forefront of major developments and a new competitive landscape that provides consumers with a vast array of new travel options. [more - original PR]