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Middle East airlines to lose $300 million in 2010
Carriers in the Middle East may see losses shrinking to …
December 15, 2009 8:52 by kippreport
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.
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2 Comments
I think it will be worse but some companies will still paint a rosy picture.
That’s great news for a change. But the headline was misleading really. It should have said “Airlines in the Middle East reduce their losses from $1.2 billion to $300 million in 2010.” Hope 2010 brings more and more good news to everyone.