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FINANCIAL NEWS
Profits of ME carriers to fall to USD400m in 2012: IATA
11 Jun 2012
(MENAFN) The International Air Transport Association (IATA) stated that Middle Eastern airlines are expected to post a USD400 million profit in 2012, down from the USD1 billion profit recorded last year, reported Gulf News.
IATA said that although the recent projection is slightly below the USD500 million forecasted in March, however, it is still a good figure when compared to the whole industry.
It added that during the past 6 months, the region’s carriers recorded positive growth in both long-haul passenger traffic and cargo traffic.
It is worth noting that capacity by Middle Eastern carriers in 2012 is projected to grow by 13.3 percent, whereas demand will rise by 14.1 percent.
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