Soaraway first half forecast for Middle East carriers | The National

Soaraway first half forecast for Middle East carriers | The National:

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Middle East airline profits are expected to soar by as much as half next year driven by an increasing global demand for long haul and domestic flights and rising tourist numbers.

According to figures published yesterday by the International Air Transport Association (Iata), Middle Eastern airlines are set to post net profits of a combined US$2.4 billion in 2014 – a 50 per cent increase from their predicted 2013 total of $1.6bn.

The industry body said margins for airlines in the region were also set to improve over the coming year, from 3.8 per cent in 2013 to a more comfortable 4.7 per cent in 2014, underpinned by a recovering global market and strong oil revenues in Arabian Gulf states."

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