Asia's Aviation Boom Comes With Rising Competition
February 12, 2012 at 19:02 PM EST
While Europe's debt crisis and global economic uncertainty are threatening airline profitability in the West, in Asia airlines are experiencing relatively strong growth. According to forecasts from the International Air Transport Association, carriers based in Asia Pacific will make profits of $2.1 billion in 2012. That's 60 percent of the total profits of $3.5 billion predicted for the global airline industry.