Airlines in the Middle East will have a tough year, the Director General of the International Air Transport Association IATA, Alexandre de Johnnyak, said yesterday.
Johnnyak said during a televised interview with CNBC Arabiya in Abu Dhabi: “We expect a year that will probably be below 2016 and 2015, so not a very positive year for Middle East carriers due to the capacity and the pressure on the yield.”
IATA expected two months ago a decline in the Middle East airlines’ earnings to $300 million in 2017 from $900 million last year.
Johnnyak pointed out that the UAE airlines will see a decline in profits for the current year compared to the profit achieved in 2016 and 2015.
Earlier, the UAE’s Air Arabia announced that its profits fell by 4.1 per cent to $138.5 million in 2016, compared to $144.4 million in 2015.
However, FlyDubai said it has made $8.6 million net profit during 2016, and has grown its revenues by 2.4 per cent to reach $1.37 billion.
Unless otherwise stated in the article above, this work by Middle East Monitor is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. If the image(s) bear our credit, this license also applies to them. What does that mean? For other permissions, please contact us.
Spotted an error on this page? Let us know
- [load_disqus_count2]
