ME carriers to see losses double in ¡¯09

The Middle East aviation industry should brace for further turbulence this year, with the region¡¯s airlines poised to rack up combined losses of $200 million this year ¨C twice the amount they lost in 2008, according to the International Air Transport Association (IATA). IATA warned that growth in regional passenger and air cargo traffic in […]


IATA International Air Transport Association Middle East


The Middle East aviation industry should brace for further turbulence this year, with the region¡¯s airlines poised to rack up combined losses of $200 million this year ¨C twice the amount they lost in 2008, according to the International Air Transport Association (IATA). IATA warned that growth in regional passenger and air cargo traffic in 2009 would ¡°slow to a crawl¡± of only about 1.2 per cent due to the global recession. At the same time, IATA forecasts that capacity for Middle Eastern airlines would swell this year by 4.9 per cent, far outpacing demand and squeezing the carriers¡¯ load factors and profits as a result.