Airlines are facing yet more turbulence – expert assesses what they need to get through it [Yahoo! Finance Canada]
SINGAPORE AIRLNS UNSP/ADR (SINGY)
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singaporeair.com/en_uk/sg/about-us/information-for-investors
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Source: Yahoo! Finance Canada
The crisis in the industry is severe, but aviation is no stranger to existential shocks. Over the last four decades it has faced the COVID pandemic, the 2008 recession, the September 11 attacks, the Gulf war and Sars. This time around, the conflict wiped US$53 billion from the market value of the world's 20 largest airlines in just its first three weeks. Despite facing recurrent shocks, the industry provides a necessary service and often has state-level support – and so has survived. But it has not thrived. Aviation has been plagued by thin margins, frequent losses and a heavy and inflexible asset base in its fleets of aircraft (including long-term leasing arrangements). It also faces a long list of risks This war will be remembered as one of aviation's greatest tests, delivering a pincer attack on the industry. On one side, fuel prices have doubled, with jet fuel surging from around US$87 to between US$150 and US$200 per barrel. On the other, revenue is in freefall due to close
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