Airline
Middle East Aviation Sector Likely To Recover
Significant growth in passenger traffic and cargo revenues during the second half of this year indicate the aviation sector in the Middle East will probably recover next year. Regional Vice President for the International Air Transport Association (IATA) said the airline industry in the region is likely decrease its recession induced losses by 4/5th to $200 million by 2010.
Dr. Majdi Sabri talked about the Middle East aviation sector on the sidelines of the Air Traffic Control Middle East Conference. He said the region’s aviation sector lost $1 billion in 2008 while the industry globally sustained $17 billion losses globally due to the recession. He said in the Middle East losses will probably come down to $500 million, and $11 billion globally in 2009. Middle East losses will probably dip to $200 million in 2010 but losses globally will remain high.
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