The rise of Turkish Airlines will be among the formidable challenges Middle East carriers have to face in 2018, in addition to low oil revenues, regional conflict, crowded air space and travel restrictions to the US, according to Geneva-based International Air Transport Association (IATA).

Turkish Airlines’ new-found status as a super connector is seen as a major threat to some of the world’s fastest growing airlines, which are based in the GCC.

According to IATA’s chief economist Brian Pearce, Turkish Airlines is a threat that the Middle East airlines should be worried about."Turkish Airlines has been performing a ‘super connector’ role with a different business model, using single-aisle aircraft. But it benefits from a lot of the geographical advantages, and it has grown dramatically in the last decade. So it’s certainly a competitor for the Sixth Freedom connecting traffic markets,” Pearce said

Over 1,000 aircraft are also on order from Middle East carriers, which means over 100 aircraft could be delivered to the region every year. This is expected to exacerbate civilian air space congestion, which in turn costs carriers millions of dollars annually in terms of delayed flight arrivals and departures.

Despite these threats, Middle East carriers are expected to double their net profits to $600m in 2017, according to IATA's forecast.

IATA attributes expected earnings growth to a 7 per cent rise in demand, which will outpace capacity expansion growth of 4.9 per cent.

Some Middle East carriers have delayed delivery of new aircraft in 2017 to rein in capacity growth and improve yields.

The carriers’ profits in 2016, which IATA estimated at $300m, are calculated by adding the profits and losses of the carriers.

Net profits made by carriers such as Dubai-based Emirates Airline and Qatar Airways, which reported a net profit of $340m and $541m, respectively in their previous fiscal year, were offset by losses made by carriers such as Etihad Airways ($1.9bn).