Arab Spring turbulence rattles airlines’ outlook

10.06.2011                      8.Siwan, 5771                      Isru Chag

Luftfahrt:

Arab Spring turbulence rattles airlines’ outlook

Middle Eastern airlines hurting from regional turmoil; drop in tourism causes airlines to be more competitive.

The turmoil of the Middle East is hurting the region’s airlines even in places where calm prevails and economies and travel are booming.
The International Air Transport Association (IATA) said on Monday that the combined profits for Middle Eastern carriers will drop to just $100 million this year from $900 million in 2010. While all the world’s carriers are bracing for a year of plunging profits, the decline for the region’s airlines is nearly double the world average of 54% the IATA said. As recently as March the IATA had forecast combined profits at Mideast airlines at $700 million….