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FINANCIAL NEWS
IATA: Mideast airlines to increase earnings in 2010
22 Sep 2010
(MENAFN) The International Air Transport Association (IATA) said that it has modified its industry outlook for the current year and it expects Middle East airlines to increase their earnings, Gulf News reported.
According to the IATA, airlines in the Middle East possibly will increase their earnings in 2010 from $100 million to $400 million, adding that the carriers in the region had profited from the strong local economies and an extended share of long-haul markets.
Thanks to the dynamics including raised demand and disciplined capacity management, the association is predicting a worldwide income of $8.9 billion in the airline industry.
The IATA’s long-term outlook does not show potentials predicting that profitability is going to decrease to $5.3 billion next year.
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