Airlines: Capacity reduction

Regional airlines cutting capacity but still taking deliveries. Brief summary of the numbers:

• Asia-Pacific passenger traffic sank 9.7 percent in December, freight volumes down 26 percent.
• Generally have 10-20% decrease planned in 09, but a lot of deliveries scheduled in 2010.
• LCCs expanding, full service contracting. See the graphs for Qantas vs Jetstar traffic (part II Traffic Highlights, esp in 4Q). Meanwhile, Air Asia and Air Asia X are expanding madly. Would be interesting to look at AA later: their debt, expansions, sensitivity to fuel prices and how they would perform (survive?) in the event of a crisis (eg: SARS). Their planned provotisation was canned.
  

Airline	Capacity cuts	Deliveries	Source
MAS	6.3% in 08, 7-10% in 09.	37 B737s from late 2010 to 2012. Plus 6 A380s from 2011.	Mr Idriss: BT Article, p2: 24th Feb 09.
SIA	Planning 11% cut in year starting Apr 09 (17 planes).	3 A33-300s due before end Mar, 15 due sometime later.	Artice 19th_Feb
Qantas	4% in 2H 08,	Planned growth 10% in FY 09/10 (year ends 30th June) 4 A380s in 2009, 65 Boeing 787s - but Qantas can walk away from the first 15 of them.	-
Air Asia	- none? -	Lots - see graph. 14 in 09, 20+ per year till 2013. AA got lots of debt.	-