As the G20 meets maybe now is a good time to find reasons to be cheerful
5th November 2012
“Kenanga Investment Bank Berhad on behalf of the board of directors of Transmile, wishes to inform that the company had on 2 March 2011 submitted an application to Bursa Securities to appeal against Bursa Securities’ decision to remove the securities of the Company from the Official List of Bursa Securities and to seek an extension of time to submit a regularisation plan to Bursa Securities.”
As stated in the announcement, the trading of the securities of Transmile will be suspended with effect from 3 March 2011 but removal of the securities of the company from the official list of Bursa Securities on 7 March 2011 will be deferred pending the decision on the appeal.
IATA FUEL RANGE NOW FALLS INTO LINE WITH THAT OF AIRLINE ECONOMICS
Citing rapidly rising oil prices, IATA yesterday cut back its 2011 earnings forecast for the world’s airlines by 5.5% to $8.6 billion from the $9.1 billion December projection. This is against $16 billion income in 2010.
“Political unrest in the Middle East has sent oil over $100 per barrel,” said Giovanni Bisignani, IATA CEO. He added that this is “significantly higher than the $84 per barrel that was the assumption in December.”
For the full year, Brent crude now is expected to average $96 per barrel, which will increase the industry’s fuel bill by $10 billion to $166 billion. $96 per barrel is the bottom of the Airline Economics fuel price range quoted in December 2010 in that range we gave a top end of $115. I have to say that $96 average for 2011 given the fact that we are in March is a little optimistic and airlines should allow for $100 a barrel at the very least.
IATA has revised the annual passenger traffic growth projection to 5.6% from 5.2% and its cargo traffic forecast to 6.1% from 5.5%, with a combined forecast of 5.7% TKP growth.
Forecast changes by region: North American airlines are unchanged at $3.2 billion, down from $4.7 billion. European airlines are projected to earn $500 million this year compared to the previous forecast of $100 million. Middle East carriers are forecast a profit of $700 million this year, raised from the prior estimate of $400 million. Latin American carriers earnings forecast reduced to $300 million from a previous estimate of $700 million. African carriers are expected to breakeven, unchanged from the previous forecast but down from the estimated $100 million they earned in 2010. Asia/Pacific carriers are expected to post earnings of $3.7 billion this year, down from a forecast of $4.6 billion in December and estimated earnings of $7.7 billion in 2010.