ME profits to fall by $100m

04 September 2008

A report issued by the International Air Transport Association (IATA) has trimmed growth forecasts for the global aviation industry to show airlines posting losses of $5.2bn, due mainly to the rising price of oil. Passenger traffic is now expected to grow on average by 3.2% (was 3.9%) and air freight volumes by 1.8% (was 3.9%). Middle Eastern profits will drop by $100m to $200m.

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications