According to The Times

The global airline industry has downgraded its forecast for this year for the third time and now is predicting losses in 2008 of $2.3 billion (£1.1 billion) because of sustained high oil prices.The International Air Transport Association (IATA), which represents airlines, also said that if oil prices stayed at $135 a barrel, the losses could worsen to more than $6 billion.

Wonder if this will have any impact on plans for Seletar Aerospace Hub Park?