Six Gulf airlines' revenue increases 3pc to $5.9bn
The six national carriers in the Gulf generated a revenue of $5.9 billion last year, a three per cent increase over the previous year.The growth in air transport industry in the region contributed to the increase, details of a study published in Saudi Gazette said. The total number of passengers in the six carriers - Saudi Arabian, Kuwaiti, Qatari, Omani and Emirates airlines and Gulf Air - rose by four per cent to one million and total air cargo reached two million tonnes, an increase of 7 per cent. The study on the economies of air transport in the GCC predicted that passenger movement in the region between the Middle East and Europe will grow by six per cent during 2000-2004. Investments in the region's aviation sector is expected to be between $5 billion and $7.5 billion during the period. The Asian return travel figures rose last year by 5.2 per cent over 1999. It said the revenue growth in Bahrain was four per cent, Saudi Arabia (3 per cent), UAE (4 per cent), Kuwait (3.5 per cent), Qatar (4.5 per cent) and Oman 3.5 per cent.