{"id":6922,"date":"2010-12-13T18:12:52","date_gmt":"2010-12-13T18:12:52","guid":{"rendered":""},"modified":"2010-12-13T18:12:52","modified_gmt":"2010-12-13T18:12:52","slug":"World-s-5-biggest-airlines-now-from-Asia","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=6922","title":{"rendered":"World’s 5 biggest airlines now from Asia"},"content":{"rendered":"

The world’s five biggest airlines now hail from Asia <\/strong>and Latin America, highlighting the industry’s shift away from the U.S. and Europe to higher-growth countries<\/strong>, the International Air Transport Association said Tuesday.<\/p>\n

Air China is twice the size of either Delta in the U.S. or Germany’s Lufthansa<\/strong>. But despite emerging markets’ strength and a broad earnings rebound this year, weak economic conditions in Europe and low margins are acting as a drag on profits, the group warned.<\/p>\n

“The world is changing in aviation, and it’s changing very, very quickly,” IATA Chief Executive Giovanni Bisignani told a news conference in Geneva. “Rapidly developing markets are shifting the industry’s center of gravity to the East.”
\n<\/strong>
\nAir China <\/strong>has a market capitalization of $20 billion, followed by Singapore Airlines <\/strong>with $14 billion and Hong Kong-based Cathay Pacific<\/strong> with $12 billion.<\/p>\n

China Southern<\/strong> has a market cap of $11 billion, as does LATAM, the Latin American airline recently created from the merger of Chile’s LAN and TAM of Brazil. U.S. carrier Delta and Germany’s Lufthansa follow with market capitalizations of $10 billion each.<\/p>\n

IATA said strong growth in developing countries and a rebound in North America<\/strong> are largely responsible for the industry’s recovery this year.<\/p>\n

Airlines will see net profits of $15.1 billion in 2010, IATA said. This marks a massive turnaround from the $10 billion industry loss in 2009 and $16 billion loss in 2008.<\/p>\n

Asian carriers will contribute $7.7 billion to the global total<\/strong>, while North American airlines will earn $5.1 billion. Europe, with estimated net profits of $400 million, lags behind the Middle East ($700 million) and Latin America ($1.2 billion). African carriers will earn $100 million this year, IATA said.<\/p>\n

Source AP<\/a>
\n<\/p>\n","protected":false},"excerpt":{"rendered":"

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