SINGAPORE (Reuters) - Record plane orders placed by ambitious Southeast Asian airlines could be at risk in an environment of intense competition, low profitability and turmoil in financial markets, the head of the International Air Transport Association (IATA) said on Sunday.
"The budget carriers have captured a lot of market share but one has to ask how profitable are they and are the growth plans that some of them have realistic," IATA Director General Tony Tyler told journalists ahead of the Singapore Airshow.The Geneva-based group said profitability for Asian airlines in general was weak compared with other regions.IATA represents almost 260 airlines accounting for 83 percent of global air traffic, nearly all of whom are legacy flag carriers rather than purely low-cost operators.The Geneva-based group said profitability for Asian airlines in general was weak compared with other regions.Southeast Asian budget carriers have ordered hundreds of jets from Airbus