Companies & Sectors
Global airline industry may record modest profits next year

The global airlines’ body estimated that Asia-Pacific airlines were set to post a $2.3 billion profit for 2012, which was $0.3 billion better than previously forecast

 
New Delhi: The crisis-hit global airline industry may stem its growing losses and even record modest profits next year, with air carriers in Asia-Pacific estimated to post profits this year, reports PTI quoting IATA.
 
A major reason for this upward revision by the International Air Transport Association (IATA) was better performance by the airlines through better matching of capacity to demand and various cost-cutting measures, IATA estimated in its latest financial forecast titled “Downward Pressure Starting to Ease”.
 
Noting that the European sovereign debt crisis continued and China was experiencing moderate growth, IATA director general and CEO Tony Tyler said, “While some of these risks have diminished slightly over recent months, they continue to take their toll on business confidence. The outlook improvement is due to airlines performing better in a difficult environment.”
 
The global airlines’ body estimated that Asia-Pacific airlines were set to post a $2.3 billion profit for 2012, which was $ 0.3 billion better than previously forecast.
 
But these carriers, which catered to 40% of the global cargo market, were “the most exposed to weak cargo demand”.
 
While European airlines were expected to post the largest loss of any region at $ 1.2 billion, worse than previously forecast, those from North America were estimated to post profits of $1.9 billion in 2012, up $0.5 billion from the previous forecast, IATA predicted.
 
In its first look at 2013, IATA estimated a rise in industry profits to $7.5 billion, as forecasts pointed to “slightly stronger economic growth and lower oil prices”.
 

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VE Commercial Vehicle sales decline 32% in September

Domestic sales stood at 3,026 units in September against 4,152 units in the year-ago period, down 27.11%, VECV said in a statement

New Delhi: Automaker VE Commercial Vehicles (VECV) on Monday reported a 31.92% decline in total sales at 3,150 units in September, reports PTI.

 

The company, which is a joint venture between the Volvo Group and Eicher Motors, had sold 4,627 units in the same month last year.

 

Domestic sales stood at 3,026 units in September against 4,152 units in the year-ago period, down 27.11%, VECV said in a statement.

 

VECV said total sales of buses increased 11.27% to 612 units during the month against 550 units in the year-ago period.

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General Motors India sales down 27% in September

“We expect the market to show some improvement closer to the festive season,” said General Motors India vice presidents P Balendran


New Delhi: General Motors India reported 26.78% decline in its sales for September this year at 7,403 units, reports PTI.

 

The company had sold 10,112 units in September 2011, General Motors India said in a statement.

 

The company sold 254 units of small car Spark, 4,539 units of hatchback Beat and 320 units of sedan Cruze last month. It also sold 2,136 units of multi-purpose vehicle Tavera during the month. The company did not share the sales numbers of its models Aveo, Optra and Captiva.

 

Commenting on the sales performance, General Motors India vice president P Balendran said: “The sales are not on the expected lines as the overall market continues to remain sluggish due to increase in fuel prices, negative market sentiment and various other factors. However, we expect the market to show some improvement closer to the festive season.”

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