SEAsian airlines see profits trimmed by budget carriers

SINGAPORE: Southeast Asian airlines are likely to see “thin” profits for some time to come as competition from budget carriers and Middle East rivals squeezes earnings, the IATA chief said on Sunday.

The recent global stock market turmoil is also expected to take a toll on air travel, particularly in business class where full-service airlines earn most of their profits, said Tony Tyler, director general of the International Air Transport Association.