Greek Crisis, Chinese Stock Fluctuations Could Affect Global Aviation Industry:
Addtime：2015-07-10 11:54
This is according to the International Air Transport Association's (IATA) director general and CEO Tony Tyler, who was speaking at an industry event in Singapore on Thursday (July 9).
Just last month, IATA had raised its forecast for the global aviation industry for 2015, saying it is expected to generate US$29.3 billion (S$39.6 billion) in net profit.
Asia-Pacific carriers are seen contributing about one-sixth of the total, while being dragged down by the weakness in the air cargo segment.
However, IATA said that Singapore will continue to thrive as an aviation hub, with increased capacity from upcoming terminals at Changi Airport.
Said Mr Tyler: "Singapore has an excellent track record, fantastic history of growth and development in aviation. I think the Singapore Government understands the value of aviation to driving the economy of Singapore.
"Asia is still a fast growing region with economies which are developing fast and Singapore is geographically very well situated to capitalise on that."
By Chloe Wang, Channel NewsAsia
Prev：Controllers complain errors caused by tiring work schedules