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.