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FINANCIAL NEWS
ME airlines to post USD1.6b profits in 2013
13 Dec 2013
(MENAFN) Airlines from the Middle East are expected to make a net profit of USD1.6 billion this year,and USD2.4 billion next year, Arabian Business reported.
The International Air Transport Association (IATA ) said that margins will keep improving in the region as they will rise from 3.8 percent in 2013 to 4.7 percent in 2014.
IATA said in a statement: “Strong oil revenues ” as oil prices stay high ” continue to support travel generated by domestic activity and the development of the tourist industry. The Syrian crisis has not impacted traffic beyond its borders.”
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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