Middle East air carriers continued to record strong growth in passenger traffic in April, marking an 11% y/y increase, well above the global average growth of just 3.2%, the International Air Transport Association (IATA) said.
April’s growth rate, however, retreated from the 15.6% achieved in March. MENA airlines registered a 12.9% increase in capacity in April that cut their load factor by 1.4pp to 76.8% from 79.7% in March.
Demand for air travel has benefitted from expanding trade volumes in the Middle East and Africa since late 2011, with regional airlines embarking on a network and capacity expansion to take advantage of that growth, IATA said.
“Passenger demand continued to grow in April, extending the positive trend that has been developing since late 2012,” said IATA’s CEO Tony Tyler.
Lebanon has become the fifth member country from the Southern and Eastern Mediterranean (SEMED) region to join the European Bank for Reconstruction and Development (EBRD), becoming a shareholder with ... more
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more
Passengers boarding an early morning July 5 Turkish Airlines (THY) flight to John F Kennedy International Airport in New York were allowed to include laptops and electronic devices larger than a ... more