AIRLINES in the Middle East would post a profit of just under $1 billion this year as demand for air travel in the region surges, the International Air Transport Association (IATA) said yesterday.
IATA forecasts the global industry to lose $1.7 billion in the same period primarily due to high fuel costs.
The organisation’s director-general Giovanni Bisignani said he expected passenger growth on Middle East airlines of around 15 per cent this year, with only growth of the domestic Chinese market higher at around 19 per cent.
The Middle East accounts for about eight per cent of the global market, he said, and has been the world’s fastest growing region in terms of passengers for the past three years.
It has been a bright spot in the troubled airline industry. Airliners posted a $3.2 billion loss last year and Bisignani said he expects the global industry to turn a profit in 2007 for the first time in six years.
TTN is the most established trade publication in the Middle East distributed on a controlled circulation basis to members of the travel and tourism industry.
Published monthly by Al Hilal Publishing and Marketing Group, the region’s foremost trade publisher, TTN is aimed at professionals in the industry, from travel agents to airline and hotel personnel.
TTN provides in-depth and extensive coverage of relevant issues in the Middle East and North Africa as well as in other parts of the world. Travel related news, analysis, and new appointments together with information on up-coming exhibitions, marketing and promotional campaigns are presented in an innovative and striking colour tabloid.
Every issue also contains a collation of international and regional news and topical features of interest to readers.