AAPA signals cautious growth

HONG KONG- The Association of Asia Pacific Airlines (AAPA) sees 2006 experiencing slow growth because of slowing global economic growth and high oil prices. Though there was healthy growth in Asia for passenger demand - both business and leisure - this year, concerns remain, secretary-general Andrew Herdman told the 49th Assembly of Presidents. Warning signs from the air cargo business are apparant as cargo is a key revenue contributor for most Asian airlines, generating around 20 percent of total. “However, Asia-Pacific should still lead, boosted by dynamic growth of China,” he said.

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