Jetrader - Summer 2014 - 20
Asia
Regions: Pacific
State of the
Capacity growth, currency challenges and increasing
competition to shape the Asia Pacific market
By Karl Creevy, Credit Risk, SMBC Aviation Capital
T
The long-term economic outlook for the
Asia Pacific region remains positive; however, yield pressure and currency weakness
over the course of the past year resulted in
airline earnings for the period that disappointed. These issues and other hot topics
related to the state of the Asia Pacific
region in 2013, and through 2014, are considered in the commentary below.
Hot Topics - 2013/2014
Currency depreciation and volatility have been key determinants of airline
profitability in both emerging and some
developed Southeast Asian markets over the
past 12 months, triggered by the Federal
Reserve's signals to taper stimulus measures. Most notably, Indonesian carriers'
performance suffered as a result of the significant depreciation of the rupiah, down
25 percent at the peak, causing a mismatch
between USD costs and local currency revenues as passenger yield growth failed to
keep pace. The combination of weaker economic data from the U.S. and government
measures has, however, resulted in gains
20 The official publication of the International Society of Transport Aircraft Trading
for the rupiah in recent weeks and months,
a trend not reflected across all emerging
market currencies. In North Asia, ANA and
JAL have felt the impact of the Japanese
government's initiative to weaken the yen
in recent years, which contributed to record
inbound tourism, but also higher costs.
Currencies will continue to be a closely
watched topic for markets within the region
throughout 2014.
Capacity growth of existing players in
order to retain or grow market share, the
aggressive entrance of new players, and/or
Jetrader - Summer 2014
Table of Contents for the Digital Edition of Jetrader - Summer 2014
Q&A: John Slattery
ISTAT Asia Focuses on Challenges, Opportunities of the Region
State of the Regions: Asia Pacific
Cape Town: Global Treaty Expands Thanks to Benefits Offered, Advanced Information Base
ISTAT Americas 2014
In Memory of Gilbert W. Speed
A Long Overdue Thank You
Bundle…Down
East Meets West in Istanbul
A Message from the President
Calendar/News
ISTAT Foundation
Aviation History
Aircraft Appraisals
Advertiser.com
Advertiser Index
Jetrader - Summer 2014 - cover1
Jetrader - Summer 2014 - cover2
Jetrader - Summer 2014 - 3
Jetrader - Summer 2014 - 4
Jetrader - Summer 2014 - A Message from the President
Jetrader - Summer 2014 - 6
Jetrader - Summer 2014 - 7
Jetrader - Summer 2014 - 8
Jetrader - Summer 2014 - Calendar/News
Jetrader - Summer 2014 - 10
Jetrader - Summer 2014 - Q&A: John Slattery
Jetrader - Summer 2014 - 12
Jetrader - Summer 2014 - 13
Jetrader - Summer 2014 - ISTAT Asia Focuses on Challenges, Opportunities of the Region
Jetrader - Summer 2014 - 15
Jetrader - Summer 2014 - 16
Jetrader - Summer 2014 - 17
Jetrader - Summer 2014 - 18
Jetrader - Summer 2014 - 19
Jetrader - Summer 2014 - State of the Regions: Asia Pacific
Jetrader - Summer 2014 - 21
Jetrader - Summer 2014 - 22
Jetrader - Summer 2014 - Cape Town: Global Treaty Expands Thanks to Benefits Offered, Advanced Information Base
Jetrader - Summer 2014 - 24
Jetrader - Summer 2014 - 25
Jetrader - Summer 2014 - ISTAT Americas 2014
Jetrader - Summer 2014 - 27
Jetrader - Summer 2014 - 28
Jetrader - Summer 2014 - 29
Jetrader - Summer 2014 - 30
Jetrader - Summer 2014 - 31
Jetrader - Summer 2014 - 32
Jetrader - Summer 2014 - 33
Jetrader - Summer 2014 - 34
Jetrader - Summer 2014 - 35
Jetrader - Summer 2014 - 36
Jetrader - Summer 2014 - 37
Jetrader - Summer 2014 - 38
Jetrader - Summer 2014 - In Memory of Gilbert W. Speed
Jetrader - Summer 2014 - 40
Jetrader - Summer 2014 - 41
Jetrader - Summer 2014 - A Long Overdue Thank You
Jetrader - Summer 2014 - 43
Jetrader - Summer 2014 - 44
Jetrader - Summer 2014 - Bundle…Down
Jetrader - Summer 2014 - 46
Jetrader - Summer 2014 - ISTAT Foundation
Jetrader - Summer 2014 - Aviation History
Jetrader - Summer 2014 - 49
Jetrader - Summer 2014 - 50
Jetrader - Summer 2014 - 51
Jetrader - Summer 2014 - 52
Jetrader - Summer 2014 - Aircraft Appraisals
Jetrader - Summer 2014 - 54
Jetrader - Summer 2014 - 55
Jetrader - Summer 2014 - 56
Jetrader - Summer 2014 - East Meets West in Istanbul
Jetrader - Summer 2014 - Advertiser Index
Jetrader - Summer 2014 - cover3
Jetrader - Summer 2014 - cover4
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