Southeast Asian low-cost carriers are faltering financially as demand plunges, raising questions over whether they can replace and double their fleets by Jamie_Freed anshumandaga
FILE PHOTO: AirAsia planes are seen parked at Kuala Lumpur International Airport 2, during the movement control order due to the outbreak of the coronavirus disease , in Sepang, Malaysia April 14, 2020. REUTERS/Lim Huey Teng/File Photo GLOBAL BUSINESS WEEK AHEAD
To be sure, budget airlines with large domestic operations are well-placed for a post-pandemic recovery, despite having less financial support than state-owned rivals. “I think there will still be work to be done on those during the third quarter,” he said, referring to negotiations over current lease contracts.Until now, a fast-expanding middle class with disposable income and greater liberalisation have made the region lucrative for planemakers and their suppliers.
“Even with a domestic recovery, you don’t have international,” Sobie said. “They are carrying too large of a fleet and can’t fully utilise the fleet because you can’t operate it back of clock on international flights at night.”
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