Another Green Shoot in the US…
The Air Transport Association of America (ATA), the industry trade organization for the leading U.S. airlines, today reported that passenger revenue, based on a sample group of carriers, fell 21 percent in August 2009 versus the same month in 2008 – the 10th consecutive month in which passenger revenue has declined from the prior year.
Six percent fewer passengers traveled on U.S. airlines in August while the average price to fly one mile fell 17 percent, a slight improvement over the 18 percent year-over-year yield decline observed in July. Revenue declines extended beyond the domestic United States to the trans-Atlantic, trans-Pacific and Latin markets.
“The industry continues to see a reduction in the number of air travelers, despite double-digit declines in fares. While there are signs that improvement may be on the horizon, regrettably the demand for air travel remains weak,” said ATA President and CEO James C. May. (ATA)
And meanwhile in Thailand, you’re going to eat your Green Shoots Soup also.
Members of the Association of Thai Travel Agents (ATTA) have seen their client numbers plunge 33 per cent, with only 1.12 million inbound tourists year to date as of this past Sunday.
The sharp decline signals a continuation of troubles in the tourism industry and is prompting more calls for urgent rescue measures.
Fewer tourists have led to liquidity shortages among operators, including Anuthat Chinnawong, owner of The Chill Resort Koh Chang. He killed himself at the resort earlier this month, a few days before a bank approved his request for a soft loan to clear his debts.
“We need the government’s help to ease operators’ financial problems, so they can stay in business,” he said . (Nation)
Regarding the news from ATA in the US, nothing to add. Just another Green Shoots, the ones that the clown Obama likes.
And in Thailand ? Again no surprise (only the Green Shoots Lovers and the Recovery Hysterical Believers are surprised, and will be surprised tomorrow, over and over again).
A few keywords though : “We need government help… so we can stay in business“.
This guy has no clue. He didn’t understand, doesn’t understand and probably will never understand. They are just too dumb.
Peak Exports, Peak Tourism are just behind us. We won’t see the previous levels anytime soon. There is no point to ease the liquidity problems of those businesses : because they are doomed.
It’s not a liquidity problem, but a solvent demand problem.
Unemployment continues to rise in western countries… at fast pace. In the US, in Europe, in France for instance, but Spain too, it’s a disaster. PEOPLE WON’T TRAVEL TO THAILAND.
You don’t travel if you lost your job.
You can try to distort the facts, to light candles, to pray Budha or Allah, to jump naked into the Chaopraya River they won’t come. I repeat they won’t come back.
And hundred of thai companies, serving tourists, will just vanish.
We have too many hotels, too many “boutique hotels”, too many ridiculous spas, too many of everything.
Common sense and basic economic principles command the liquidation of those overcapacities.
But you can count on the stupid thai government, like all the other governments around the world : they will pour money into those companies !
Abhisit is trying very hard to win, this time for real, an election.