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APEC summit causes $2 billion in losses to airline companies

Staff writer |
International and domestic airlines have incurred total losses of $2 billion owing to cancelation of a large number of flights during the Asia-Pacific Economic Cooperation, APEC.

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The summit was held on November 18 and 19 in the Filipino capital of Manila, attended by leaders from 21 countries, media reports said.

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 U.S. President Barack Obama.