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FINANCIAL NEWS
ME carriers expected to earn 1.6 b this year
24 Sep 2013
(MENAFN) The International Air Transport Association (IATA) said that carriers in the Middle East are expected to have profits that go over USD1.6 billion this year, Saudi Gazette reported.
Carriers’ kept positive performance in the second quarter, but with a slower pace than expected. Profit for Middle East airlines is expected to continue this year and soar further next year.
Director General and CEO of IATA said: “Overall, the story is largely positive. Profitability continues on an improving trajectory. But we have run into a few speed bumps. Cargo growth has not materialized. Emerging markets have slowed. And the oil price spike has had a dampening effect. We do see a more optimistic end to the year. And 2014 is shaping up to see profit more than double compared to 2012.”
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