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Homepage | Middle East Business News | Middle East | Middle East airlines to lose $300 million in 2010
Middle East airlines to lose $300 million in 2010
Carriers in the Middle East may see losses reducing from $1.2 billion in 2009 to $300 million in 2010, thanks to increasing passenger demand and decreasing non-fuel costs, according to the International Air Transport Association (IATA).
“The world’s airlines will lose $11.0 billion in 2009. We are ending an Annus Horribilis that brings to a close the 10 challenging years of an aviation Decennis Horribilis. Between 2000 and 2009, airlines lost $49.1 billion, which is an average of $5.0 billion a year,” said Giovanni Bisignani, IATA’s director general and CEO.
Iraq raises crude prices for U.S. Europe, Asia-source
The October price for Basra light crude for Asian buyers was set at a discount of $1.35.
The October price for Basra light crude for Asian buyers was set at a discount of $1.35.
Tags: 2010, airlines, losses, Middle East.
I think it will be worse but some companies will still paint a rosy picture.
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