Abstracts » Business, international

When the dust settles

Article Abstract:

Asian airlines suffered substantial losses in 1991 due to natural and man-made problems. The Mount Pinatubo eruption in the Philippines caused aircraft grounding due to ash and debris hazards. Further complications were caused by a controversy between Singapore Airlines and Garuda Indonesia over route services. However, the industry's outlook is promising, with new routes being serviced, more airlines either starting or privatizing operations and others planning management overhauls. Aircraft orders and acquisitions continue to come in from Asian airlines.

Asia

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Changes in the air: recovery may be a long, hard struggle for some

Article Abstract:

The airline and aerospace industries suffered major losses in earnings in 1991. The airline industry's decline, which was already apparent in late 1989, reached its peak during the 1991 Persian Gulf war. A significant drop in airline traffic was felt in the US and in Europe, but the Asian market was stronger. The aerospace industry, likewise, suffered a slump in aircraft orders in 1991. While the airline industry is expected to experience a slow recovery in 1992, the aircraft industry is predicted to suffer losses until 1993.

Aerospace industry

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Fasten seat belts

Article Abstract:

Asia's airlines have encountered tough economic times in the 1990s. Singapore Airlines, Hongkong's Cathay Pacific Airways, Malaysian Airline System, Thai Airways and Japan Airlines have suffered from lost business and falling profits due to the recession in North American and Europe. Moreover, the large number of airplanes purchased during the 1980s are now causing a surplus of space, while the need to reduce costs has forced the elimination of first class and business travel. Cost-reducing efforts are likely to continue.

Cover Story, East Asia

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