ME airlines to lose $1.5bn this year, says IATA

09 June 2009

The International Air Transport Association (IATA) has said in a revised forecast that despite strong passenger traffic growth in the region, Middle East-based airlines stand to lose a total of $1.5bn this year due to the global economic slowdown. Middle East's intercontinental airline hubs are vulnerable to recessionary impacts in both European and Asian markets, IATA added.

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