SINGAPORE (Reuters) – The world’s biggest planemaker Boeing (BA.N: Quote, Profile, Research) expects nearly half of the world’s air traffic growth will be driven by the Asia-Pacific region over the next 20 years, but is monitoring local currencies to assess airlines’ ability to meet orders.
On the eve of the Singapore Airshow, Boeing forecast the fleet of aircraft in the region would triple in size over the next two decades, sparking demand for close to 13,000 more planes valued at $1.9 trillion.
SINGAPORE (Reuters) – Boeing (BA.N: Quote, Profile, Research, Stock Buzz) maintained its 20-year forecast for airplane demand at $4.8 trillion, and predicted that nearly half of the world’s air traffic growth would be driven by travel to, from or within the Asia-Pacific over the next two decades.
Boeing estimated airlines in the Asia Pacific region would need an additional 12,820 jets valued at $1.9 trillion over the next 20 years. It said the fleet would rise to 14,750 in 2032, from 5,090 in 2012.
SINGAPORE, Feb 9 (Reuters) – Weakness in air cargo markets
remains the biggest worry for airlines despite some evidence of
recovery in 2013, the head of the International Air Transport
“The biggest worry for the airlines industry right now is
probably cargo. Air cargo continues to be weak and for the big
airlines in this region (Asia), it is a very important component
of their revenue,” IATA director general Tony Tyler told a news
conference on Sunday ahead of the Singapore Airshow.
SINGAPORE, Feb 9 (Reuters) – Low-cost carriers are flying
high in Southeast Asia on the back of sharp growth in air
travel, but as hundreds of new jets swarm into the region
concerns are rising about its ability to absorb the record
numbers of planes on order.
Southeast Asian carriers have been devouring as many new
airplanes as planemakers can sell, gambling that low fares and
rising disposable incomes will drive the region’s 600
million-strong population to keep flying to new destinations.
DUBAI/SINGAPORE (Reuters) – Thailand’s Nok Airlines is close to placing an order for Boeing 737 jets (BA.N: Quote, Profile, Research, Stock Buzz), several people familiar with the matter said, sidestepping domestic political turmoil to step up a battle between Southeast Asia’s budget carriers.
The deal for the latest version of Boeing’s best-selling passenger jet, the 737 MAX, is expected to be announced at next week’s Singapore Airshow.
SINGAPORE/PARIS, Jan 28 (Reuters) – Vietnamese carrier
VietJetAir said it would finalise a $9 billion order for up to
92 Airbus aircraft next month as it seeks to tap into
Southeast Asia’s fast growing low-cost market dominated by
AirAsia Bhd and Lion Air.
In September, privately owned VietJetAir and Airbus agreed a
provisional order for mostly A320 planes, but the deal did not
show up on the order book of Airbus in its 2013 data.
SINGAPORE, Jan 22 (Reuters) – Singapore Exchange Ltd
, set to report its weakest profit in more than a year
after a penny stock scandal hammered trading volumes, is placing
a big bet on an increasingly crowded derivatives market.
The demise of SGX mini metals contracts, and lower volumes
for its iron ore swaps since China launched a competing product,
could be a warning sign for its ambitions as major international
exchanges muscle into its home turf.
SINGAPORE, Jan 15 (Reuters) – The number of private homes
sold by developers in Singapore in December fell more than 80
percent from a year earlier, with the property industry bracing
itself for a tough 2014 as a series of government measures to
cool the market start to bite.
With developers putting few big new projects on to the
market and potential buyers hampered by rules limiting how much
they can borrow, only 259 units were sold last month in the city
state, the lowest number since January 2009, according to
figures from the Urban Redevelopment Authority (URA).
MANILA/SINGAPORE, Jan 8 (Reuters) – Singapore’s Tigerair is
selling its Philippine business to Cebu Pacific, the
archipelago’s biggest airline, leaving just three main players
in a market flush with planes but thin on passengers.
Tigerair, which has lost millions of dollars since buying
into the budget carrier about 18 months ago, is turning its
attention to partnerships to build scale. Cebu Pacific is
betting on longer-term growth to propel traveller numbers beyond
SINGAPORE (Reuters) – Singapore’s Oversea-Chinese Banking Corp (OCBC.SI: Quote, Profile, Research) is in exclusive talks to buy Hong Kong’s Wing Hang Bank Ltd (0302.HK: Quote, Profile, Research), a deal that has raised concerns about its estimated $5.3 billion price tag and the likely need to tap shareholders for funds.
The acquisition would be OCBC’s biggest and would give it a much sought after gateway to China. The purchase would also help it bridge the gap with domestic rival DBS Group Holdings (DBSM.SI: Quote, Profile, Research), which operates Hong Kong’s fifth-biggest bank.