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FINANCIAL NEWS
Profit of ME airlines to reach USD700m in 2012: IATA
02 Oct 2012
(MENAFN) The International Air Transport Association’s (IATA) director general and CEO, Tony Tyler, stated that in 2012, profit of Middle East carriers is forecasted to reach USD700 million, compared with June’s projection of USD300 million, reported Arabian Business.
Tyler said that during the January-August period, demand for ME carriers jumped 17.1 percent in terms of passenger traffic, whereas capacity grew 13.2 percent.
On the other hand, cargo capacity increased by 13 percent and cargo demand grew by 14 percent.
It is worth noting that the region’s airlines are maintaining an expansion spree, according to IATA, through expanding hubs, with their share of international passenger traffic rising to 11.5 percent in August 2012 from 4.8 percent in 2002.
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