PRLog (Press Release) - Nov. 20, 2012 - The global airline industry continues to face challenges from the deepening of the European debt crisis that is wiping out the positive impacts of lower fuel prices, increasing air traffic and improved freight market according to Patrick David, a senior executive with Coracall, a global BPO and Call Centre Company which specializes in the travel and leisure industry.
“The scenario is unlikely to change for the remainder of the year”, Mr David said. “The International Air Transport Association (IATA) still projects overall airline profits of $3.0 billion for 2012 with net profit margin of 0.5% on the back of healthy growth in North and South America. But the profit outlook is less than $7.9 billion earned in 2011 and $16 billion earned in 2010. This steep decline in the industry’s profitability is a function of the overall unfavorable macro backdrop in which the industry has to operate this year.”
“Airlines will need to continue to look at their cost base and customer retention will be a key driver for success. We believe that customer service functions will undergo consolidation and delivery location will be critical. With our facilities in both South Africa and the Philippines we are able to offer cost effective solutions to global carriers, including multi lingual support from Manila.”
For further information please contact:
329 Umhlanga Rocks Drive
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward looking statements (within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934) regarding our business, financial condition, results of operations and prospects. Forward-looking statements in this report reflect the good faith judgment of our management and the statements are based on facts and factors as we currently know them. Forward-looking statements are subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements, as a result of either the matters set forth or incorporated in this report generally or certain economic and business factors, some of which may be beyond the control of Coracall. These factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital to support operations and projections of revenues and profitability. Readers are urged not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of the press release.