Boeing sees growth in demand for airplanes in Southeast Asia

Above, an aircraft flies over a Boeing 777-300ER airplane of China Airlines during the 51st Paris Air Show at Le Bourget airport near Paris. (Reuters)
Updated 22 September 2017
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Boeing sees growth in demand for airplanes in Southeast Asia

BENGALURU: Boeing said it sees demand for new airplanes worth $650 billion (SR2.44 billion) in Southeast Asia over the next two decades.
The world’s biggest plane maker projected a demand for 4,210 new airplanes in the region over the next 20 years, adding it saw annual traffic growth in Southeast Asia at 6.2 percent.
Single-aisle airplanes, like the 737 MAX, would account for more than 70 percent of new deliveries, Boeing said in a statement on Thursday.
The low-cost business model would further continue to be a driver of traffic growth in Southeast Asia, it noted.
The company sees worldwide demand at 41,030 new airplanes over the next two decades.


Qatar Airways confirms ‘substantial’ annual loss, blames row with regional neighbors

Updated 25 April 2018
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Qatar Airways confirms ‘substantial’ annual loss, blames row with regional neighbors

ANTALYA, Turkey: Qatar Airways made a “substantial” loss in its last financial year because of a regional dispute that has banned the airline from four Arab countries, its chief executive said on Wednesday without revealing the extent of the losses.
Qatar Airways has been blocked from flying to 18 cities in Saudi Arabia, the United Arab Emirates, Bahrain and Egypt since June when those countries cut ties with Qatar, accusing it of supporting terrorism. Doha denies the charges.
“We have increased our operating costs. We had to also take a hit on revenues so we don’t think that our results for the last financial year will be very good,” Chief Executive Akbar Al-Baker told reporters at the Eurasia Airshow in Antalya, Turkey.
“I don’t want to say the size of the loss but it was substantial.”
Other parts of the business were profitable though that was not enough to make up for the airline loss, Baker said.
Qatar Airways has several subsidiaries including airport ground handling services and catering units.
The airline had warned of the loss for several months.
The state-owned airline will need another eight weeks to finalize its books and make adjustments before it announces its financial results for the year to March 31, Baker said.
Qatar Airways made 1.97 billion Qatari riyals ($541 million) profit in its previous fiscal year.
Neighboring Saudi Arabia and the UAE were popular routes for Qatar Airways, which has also been banned from the airspace of the four boycotting states.