Published 1 day ago • loading... • Updated 14 hours ago
Southeast Asia’s Budget Airlines Eye Recovery but Fuel Scars Linger
Higher fuel prices and weaker currencies pushed regional carriers into losses, with Cebu Pacific hedging 30% of Q3 fuel needs and AirAsia cutting capacity.
Results from Malaysia's AirAsia, Singapore Airlines' budget arm Scoot and the Philippines' Cebu Pacific showed efforts to recoup soaring fuel costs through higher fares fell short.
Rising kerosene prices and weak national currencies have burdened the quarterly results of Air Asia, Cebu Pacific and Scoot. Airline managers and analysts expect a difficult second half of the year for Southeast Asia's low-cost airliners.