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SINGAPORE TRAVEL NEWS
Thursday 3rd March 2011
≪ HANGING MONORAIL
A German-designed alternative public transport solution is unveiled in Beijing.. READ MORE
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≪ EYE ON EUROPE
AirAsia X appoints former Malaysian minister, three new General Managers for Carlson, and more… READ MORE
Marriott signs three new hotels in Europe, Kuoni buys a Swedish travel company, and more… READ MORE
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IATA cuts 2011 airline think global reach profit forecast think travelport
Asia Pacific carriers still lead the way, but rising oil prices threaten industry...
Prime Plaza plans luxury resort in Bali
T think anything’s possible, think travelport www.travelport.com/think
Dust storm hampers Christchurch recovery work
T
he stricken city of Christchurch was hit by a huge dust storm yesterday, pouring further misery on residents and rescue workers. Winds of up to 70kph created massive dust clouds in the city, causing more problems for emergency workers in the aftermath of last week’s devastating earthquake. According to Channel NewsAsia, unstable buildings were rattled by the storm, dislodging masonry, while some trees were also unrooted. The death toll from the 6.3-magnitude quake now stands at 159, but officials believe that the final figure will exceed 240.
he International Air Transport Association (IATA) has downgraded its airline industry outlook for 2011 to US$8.6 billion from the US$9.1 billion it estimated in December 2010. This marks a 46% fall in net profits compared to the US$16 billion earned by the industry in 2010. On expected industry revenues of US$594 billion, the US$8.6 billion 2011 profit equates to a net profit margin of 1.4%. Giovanni Bisignani, IATA’s Director General & CEO, said that spiralling oil prices caused by the continuing unrest in the Middle East was the main factor affecting airlines’ profits this year. “Political unrest in the Middle East has sent oil over US$100 per barrel... significantly higher than the US$84 per barrel that was the assumption in December. At the same time the global economy is now forecast to grow by 3.1% this year - a full 0.5 percentage point better than predicted just three months ago. But stronger revenues will provide only a partial offset to higher costs. Profits will be cut in half compared to last year and margins are a pathetic 1.4%,” said Bisignani. Asia Pacific carriers are expected to deliver the largest collective profit of US$3.7 billion and the highest operating margins of
4.6%. This is down substantially however, from the US$7.6 billion that the region’s carriers made in 2010 and lower than the US$4.6 billion profit forecast in December. IATA stated that while the strong economic growth in the region is still driving profitability, inflation fighting measures in China are slowing trade and air cargo demand. “This year the industry is performing a balancing act on a very thin tight-rope of a 1.4% margin.... There is very little buffer for the industry to keep its balance as it absorbs shocks. Today oil is the biggest risk. If its rise stalls the global economic expansion, the outlook will deteriorate very quickly,” said Bisignani. Click here for full
story.
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Amadea Resort & Villas will offer seven Pool Villas
rime Plaza Hotels & Resorts has announced that its new Amadea Resort & Villas will open in the Seminyak area of Bali in the second quarter of 2011. The new luxury property will offer 100 rooms and suites, including seven Pool Villas and two Rooftop Suites. Other facilities include two lap pools, a spa and a restaurant. The resort will be Prime Plaza’s seventh property in Indonesia and its fourth in Bali. Click
here for full story.
Asia’s first replica golf course opens in Thailand
R
oyal Gems Golf City has opened on the outskirts of Bangkok, becoming Asia’s first replica golf course. According to Golfasian, the course combines a front nine of some of the world’s most famous holes, with the back nine of Augusta National, the US course which hosts the annual Masters The famed 17th at Sawgrass is tournament. Recreated holes include the recreated at Royal Gems Golf City famous 17th island green at Sawgrass, the ‘Road Hole’ at St Andrews, and the ‘Postage Stamp’ at Royal Troon in Scotland. The par-71 course also features a driving range and restaurants.
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