APEC summit causes losses to airline companies

  • International and domestic airlines have incurred losses amounting to $2 billion owing to cancellation of a large number of flights during the two-day Asia-Pacific Economic Cooperation (APEC) summit being held in the Philippines. The summit, taking place in the capital city of Manila, started on Wednesday. It is being attended by leaders from 21 countries. The airlines were forced to cancel more than 1,800 flights between November 16 and 20 as the only runway at the Ninoy Aquino International Airport was closed to facilitate the arrival and departure of leaders attending the summit, including US President Barack Obama. (Source: IANS)