...AirAsia's fortunes contrast sharply with those of three other
Singapore-based low-cost carriers: Jetstar Asia, Valuair and Tiger
Airways.
'As far as we know, only Air- Asia is profitable, while the rest
struggle as industry overcapacity, low fares and high jet fuel
prices take their toll,' said Mr Shukor Yusof, Standard &
Poor's aviation editor yesterday.
(Straits Times Aug 27)
Protectionist policies by Singapore have not changed
anything....