Middle East airline passenger numbers predicted to grow by 7% in 2018
The report also revealed that Middle East airlines will see net profits doubling to US $600 million (AED 2.2 billion) in 2018
Middle East passenger numbers are forecasted to climb by 7% in 2018, according to the International Air Transport Association (IATA).
According to UK’s Institute of Internal Communications president Alan Peaford, the aviation industry is thriving despite lower oil prices.
“Even with regional uncertainties aviation continues to grow. The Arab air transport market grew by 9.9% in the past year, according to the Arab Air Carriers Organisation (AACO) at its 2017 AGM,” Peaford said.
Aviation will feature heavily at the Arabian Travel Market (ATM) 2018 that will held from April 22 - 25 at the Dubai World Trade Centre. Peaford, who will be moderating sessions at ATM, said growth figures like these will support lively debates at ATM 2018 and should provide an element of cautious optimism.
IATA figures also revealed that Middle East airlines will see net profits doubling to US $600 million (AED 2.2 billion) in 2018, double what they are estimated to make this year. Passenger capacity is also estimated to rise by 6.6% this year and a further 4.9% increase is predicted for 2018, the statement added.
According to research provider BNC Network, the total value of 152 active aviation-related projects in the Middle East reached $57.7 billion (AED 211.8 billion) at the end of April 2017.
In the GCC countries, Saudi Arabia accounted for the largest share of project value (46% of the GCC’s total), followed by the UAE (26%), and Kuwait (12|%).
Arabian Travel Market (ATM) 2018 will be held from April 22 to April 25, 2018 at the Dubai World Trade Centre.