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Feature: Managing Asia's Megafleets
16 November 2011
The CEOs of two of Asia's largest airlines talk to Airfinance Journal about traffic demand and financing new aircraft orders.
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Cathay Pacific
China Airlines
John Slosar
Huang-Hsiang Sun
China Southern
Air China
Thai Airways
6,000 miles away from Europe, one Asian banker turns on the news to see the Greek prime minister's latest move. The banker is not alone.
The Google search term "euro crisis" has received more traffic from Singapore than any other country in the past 12 months. India is third, the United Kingdom is fifth and the United States is tenth. Figures come from Google trends.
"You can't escape it," says the Asian banker. Bankers do not like the situation because jittery markets affect their funding. Uncertainty in Europe is also hitting airline revenues in Asia, since European travellers have less cash to spend on long-haul flights.
"We are worried about Europe. We can't keep the situation in Europe as it is. Domestic air travel represents less than 10% of our revenue," Thai President Piyasvasti Amranand told delegates at the Association of Asia Pacific Airlines annual meeting this year.
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