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FINANCIAL NEWS
Arab carriers to post USD700m profit in 2014
25 Sep 2014
(MENAFN) Arab airlines are expected to post USD700 million in combined profit in 2014, a decrease compared to USD800 million last year, due to the tense geopolitical situation of the region, Gulf News reported.
This decrease in profit is attributed to planes having to change their routes to avoid Iraqi airspace to over Iran, which resulted in extra fuel charges for airlines.
Arab Air Carriers Organization (AACO) also said that visa restrictions among Arabs travelling to other Arab countries as well as freedom of movement for travelers in the Arab world have affected the carriers’ revenues as well.
Meanwhile, the six-member Gulf Cooperation Council (GCC) states announced that they are in discussions to implement a regional air traffic system but that many in the region’s aviation sector have been critical of the little movement among the Arab Gulf countries.
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25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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