Airline
IATA Lowers Loss Forecast For Mideast
March 14- The aviation industry body IATA cut its net loss forecast for Middle East carriers to $400 million (Dh1.46bn) a substantial reduction from its initial forecast in 2009 of a $1.5 billion loss. Giovanni Bisignani said demand is causing recovery in the region but low yields on hub traffic will limit profitability.
Bisignani, who is IATA’s director-general and chief executive, explained in a teleconference yesterday, that “We can clearly see from the numbers that the industry situation is improving.” He said the improvement is driven by a recovery in demand as evidenced by year-end gains that have continued into the first months of 2010. Globally, passenger demand has increased 6.4 percent and cargo growth increased 28.3 percent in 2009. However, IATA said demand is still 2-3 percent lower than before the international economic crisis. Bisignani projects Middle East carriers demand will grow 15.2 percent in 2010.
More Airline
Latest Travel News
Featured Sights To See
Grand Mosque
Dubai, United Arab Emirates
The Grand Mosque is one of the largest in the UAE and is situated near the Ruler’s Court on the Bur Dubai side of the Creek. Its capacity is up to 1200 worshipers. Though it was rebuilt in 1998, the mosque blends in perfectly with old Dubai, with its sand colored walls, wooden shutters, and stained glass windows. It also has the tallest minaret in Dubai at 70m. Non-Muslims a...
Abai’s Theater
Almaty, Kazakhstan
Address: 110 Kabanbai Batyr Street, corner of Panfilov Street, Almaty Phone: +7(727) 272 7934 +7(727) 2722042 Timings: shows are held several times during the week, depending on the season. Call in advance to find out the show timings, or visit to view the complete schedule on display Tickets: depends on nature and duration of performance. Generally inexpensive The National Stat...
Zsigmond Kun Folk Art Collection
Budapest, Hungary
Be prepared for lengthy and detailed descriptions from the staff at this museum as they are very proud of their collection! Put together by a wealthy ethnographer, a lot of the pottery is from Mezotur near the Tisa River but there are some Transylvanian furniture and textiles on display too. Address: III Fo ter 4 Tel: 366 1138 Times: Tue-Fri 2-6pm, Sat and Sun from 10am Prices: adult/chi...
Grand Bazaar
Istanbul, Turkey
The precursor to the modern mall, Istanbul's Grand Bazaar (or Kapalıçarşı) is among the largest covered markets in the world. It has been an important trading center since the mid-fifteenth century. Sultan Suleiman the Magnificent oversaw a vast enlargement of the bazaar in the 16th century. Today there are more than 5,000 shops attracting 250,000 visitors daily. Even if you...