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FINANCIAL NEWS
ME’s aviation sector to grow 10% annually
05 Dec 2011
(MENAFN) Official Airline Guide (OAG), the UK-based aviation research firm, said that over the coming years, Middle East’s aviation sector would record annual growth of 10 percent, reported Gulf News.
OAG added that the increase would result from a surge in air travel in the region, and huge aircraft orders by Gulf airlines, on the other hand, over the coming ten years, the Middle East and India would represent 11 percent of the world’s aircraft deliveries, whereas India’s aviation sector’s annual growth would be at 9 percent.
It also said that a stable rise in inbound tourism, huge airport development and investor confidence in this sector would also fuel aviation growth in the Middle East and India.
It is worth noting that in the January-October period, Middle East carriers added 8.8 percent to capacity, whereas demand went up by 8 percent.
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