High fuel costs hit bottom line at SAS, Cathay Pacific

Record oil prices may force Western carriers into bankruptcy but Asian players likely to survive, say experts. Soaring fuel prices savaged the earnings of Scandinavian airline group SAS and undermined the profits of Hong Kong’s Cathay Pacific Airways … airlines globally may lose as much as US$6 billion (S$10.3 billion) this year if fuel prices stay at record highs, according to International Air Transport Association, which represents more than 270 airlines.
… while Western carriers like Delta say the oil price rise could force them to the brink of bankruptcy, experts say that a boost in revenues and nimble business practices will enable Asian airlines to absorb the higher costs.

… Asian airlines, unlike their trade-union tied Western
counterparts, were also able to fire staff to balance rises in other costs.

Yahoo