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
Downtown Cairo
Cairo, Egypt
If you want to get to know Cairo beyond its famous tourist sites, then Downtown Cairo is where you will find the real Cairenes living life. Though this commercial hub lacks famous tourist attractions, Downtown Cairo's allure comes from the people themselves who visit the region because of its affordable shopping and eateries. Downtown Cairo is also a perfect place for the traveler on a budge...
The Hong Kong Cultural Centre
Hong Kong, China
The Hong Kong Cultural Center is located on Salisbury Road in the South western tip of Tsimshatsui of Kowloon district. This is the center to visit for a variety of cultural experiences. The Hong Kong Philhamornic Orchestra is based out of the concert hall which can accommodate 2,019 people. This two tiered structure is done in oak and has incredible acoustics. It has an 8000 pipe organ which is A...
St Catherine Monastery
Sharm el Sheikh, Egypt
This monastery is one of the oldest in the world and is considered a delight for connoisseur of art. It was built in the time period of Mosses by a Roman Emperor. Due to its rich collection in oil paintings, old manuscripts, Arab mosaics, etc it was given the status of World Heritage Site in 2002 by UNESCO....
The Diplomatic Quarter
Riyadh, Saudi Arabia
The Diplomatic Quarter, or DQ as it is popularly known, is home to foreign embassies and international organizations, as well as residential structures and malls. With lush gardens and numerous sports facilities, it is also one of the city's greenest areas. It is especially known for its fine architecture, and is considered a model for other Islamic cities around the world. Despite its name, the s...