Middle East airlines' profits to drop to USD 300mn in 2012 - IATA.

By bne IntelliNews December 8, 2011
The regional unrest and unfavorable market conditions in Europe will cut by half profit outlook for air carriers in the Middle East, Gulf News reported citing Tony Tyler, CEO of the International Air Transport Association (IATA). Next years profit is seen USD 300mn in 2012, down from an earlier projected gain of USD 700mn. For 2011, the Middle East carriers are expected to earn profits of USD 400mn almost half of what was estimated earlier as a result of higher fuel prices. The IATA also lowered its 2012 forecast for the global airline market expecting a drop in profits to USD 3.5bn from USD 4.9bn.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Bahrain Middle East Bank fully repays USD 13mn debt.

Bahrain Middle East Bank made a USD 13mn full repayment of a loan obligation including a USD 1.4mn interest payment taking total repayments by the troubled lender to USD 43mn, the bank said in ... more

National Bank of Abu Dhabi launches USD 17mn Uridashi bond, MENAs first ever.

National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, initiated a USD 17mn fifteen-year Uridashi bond, MENA's first ever, allowing the bank to directly access Japanese ... more

GCC economies resilient to MENA turmoil but constrains persist S&P.

The GCC economies remain insulated from economic and political turbulence in the MENA region and globally but structural challenges continue to constrain sovereign ratings, ratings agency ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  3. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  4. Russia’s war economy boosted by rising oil prices
    8 days ago
  5. Poland’s Orlen paid $400mn to scammers for oil that never arrived
    12 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss