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FINANCIAL NEWS
IATA expects $400m profits for MidEast airlines
03 Nov 2010
(MENAFN) Deputy Chairman of the International Air Transport Association (IATA) Dr. Majdi Sabri projected that air carriers of the Middle East and North Africa (MENA) region to make profits of $400 million in 2010, Gulf News reported.
Speaking to reporters here following the Second Annual Doha Aviation Summit, Dr. Sabri said the airlines of the countries of the region showed a strong will to pursue the implementation of the Damascus declaration on liberalization of the air industry.
He attributed the success of the Arab airlines to their strong infrastructure such as the world-class airports and latest aircraft, noting that the recently-built airports in the Arab countries cost up to $100 billion and the value of the recently-bought aircraft topped $200 billion.
Unlike the European countries where interest groups are active, the Arab countries were able to pursue the plans to expand airports and build new ones more freely, Dr. Sabri added.
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