Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Middle East carriers post 13.4% traffic growth in February  Join our daily free Newsletter

MENAFN - Khaleej Times - 04/04/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Khaleej Times) Gulf nations enjoying rise in non-oil sectors of their economies

Middle east carriers had the strongest year-over-year traffic growth in february at 13.4 per cent as airlines continued to benefit from the strength of regional economies and solid growth in business-related premium travel the international air transport association or iata said on thursday.


An emirates plane lands at logan international airport in boston. international passenger traffic rose 5.5 per cent in february compared to the year-ago period. — ap


The gulf nations in particular are enjoying acceleration in non-oil sectors of their economies further supporting strong demand for air travel. capacity rose 12.5 per cent and load factor climbed 0.6 percentage points to 78.9 per cent iata said as it observed continuing solid demand for air travel across the globe.


The organisation which represents some 240 airlines comprising 84 per cent of global air traffic said global travel grew 5.4 per cent compared to february 2013. “although this represented a slowdown compared to the january traffic increase of 8.2 per cent cumulative traffic growth for the first two months of 2014 was 6.9 per cent which compares favourably with the 5.2 per cent overall growth achieved in 2013.”


February capacity rose 5.2 per cent and load factor climbed 0.2 percentage points to 78.1 per cent. all regions except africa experienced positive traffic growth it noted.


“people are flying. strong demand is consistent with the pick-up in global economic growth particularly in advanced economies.” said tony tyler iata’s director general and ceo.


International passenger traffic rose 5.5 per cent in february compared to the year-ago period. capacity rose 5.8 per cent and load factor slipped 0.2 percentage points to 76.8 per cent. all regions recorded year-over-year increases in demand.


Domestic marketsose 5.3 per cent in february compared to a year ago. total domestic capacity was up 4.1 per cent and load factor rose 0.9 percentage points to 80.4 per cent.


“growth was especially strong in the developing economies of brazil china and russia with all three recording double-digit increases in demand compared to the year-ago period” it said.


India was the only domestic market to see a contraction in demand. traffic fell 1.8 per cent in february compared to february 2013. subdued consumer sentiment ahead of the upcoming election as well as elevated fare levels compared to a year ago are likely exerting downward pressure on demand.


“the strong demand for air travel at a time of rising business and consumer confidence is indicative of the symbiotic relationship between aviation and economic growth. the connectivity provided by aviation both enables and sustains trade and development while economic activity creates demand for aviation. governments that treat aviation as if it were a luxury item — or a necessary evil--are depriving their populations of a key engine of growth and job creation” said tyler.



In march iata said the ukraine crisis and economic worries in latin america had prompted the airline industry to trim 1 billion off its global profit forecast for 2014.


The geneva-based organisation now expects airlines to make a profit of 18.7 billion this year down from 19.7 billion in its previous forecast in december but the industry remains on an upswing after a 12.9 billion profit in 2013.


One main blame is higher fuel costs iata said. it now expects crude oil prices to average 108 a barrel (brent) up 3.50 from its previous projection.


Even so the 18.7 billion would represent a 45 per cent jump from 2013’s profit and would be three times the industry’s 2012 profit. in a speech iata said in its forecast.


— issacjohn?khaleejtimes.com

 


Khaleej Times




  MENA News Headlines
 Mar 29 2017 - UAE to start issuing tenders in Q2MENAFN
(MENAFN) The UAE will start issuing tenders in the second quarter for 250.520 square meters residential project being developed under Zayed Housing Program in Dubai.Additionally, the Al Khawaneej ...

 Mar 29 2017 - Empower customer numbers jump to over 65.000MENAFN
(MENAFN) UAE-based Emirates Central Cooling System Corp has recorded an increase in its customer base which soared to 65.000 by the end of last year.Accordingly, the main reason behind this growth ...

 Mar 28 2017 - Undersecretary of the Ministry of Health and Prevention and Ethiopian Ambassador to the UAE holds meeting to discuss joint health initiativesMENAFN Press
(MENAFN Editorial) UAE, March 27, 2017- His Excellency (H.E.) Dr. Mohamed Salim Al Olama, Undersecretary of the Ministry of Health & Prevention (MOHAP) recently met with H.E. Dr. Abdelqader ...

 Mar 28 2017 - Consumers in UAE Can Now Claim the Use of Renewable Energy with I-RECsMENAFN Press
(MENAFN Editorial) Dubai Carbon has become the local issuer of International Renewable Energy Certificate Standard (I-REC Standard) allowing end-users validate renewable energy consumption ...

 Mar 28 2017 - LSM opens doors for students in UAEMENAFN Press
(MENAFN Editorial) Students across the United Arab Emirates are turning to one of the UK's leading educational institutions for career boosting qualifications. The London School of Marketing ...

 Mar 28 2017 - UAE's Top Talent for 2016/2017 Season Selected to Join the du LaLiga High Performance CentreMENAFN Press
(MENAFN Editorial) Dubai, UAE 28 March 2017: Following an all-day trial conducted this weekend, the UAE's top talents for the 2016/2017 were selected this weekend, earn a coveted place at the ...

 Mar 28 2017 - KIZAD Reveals Largest Free Trade Zone at GMIS 2017MENAFN Press
(MENAFN Editorial) Abu Dhabi, UAE, 28 March, 2017: Responding to the rising demand from both foreign direct and existing investors wanting to establish and grow their manufacturing and industrial ...

 Mar 28 2017 - Farnek enters Abu Dhabi security services marketMENAFN Press
(MENAFN Editorial) Leading FM company signs business partnership with Abu Dhabi businesswoman HE Badria Almulla; UAE FM sector poised for 9% annual growth over the next five years - security ...

 Mar 28 2017 - Masdar Institute-University of Manchester Collaboration Project on Membrane-Based Desalination Wins UK Government FundingMENAFN Press
(MENAFN Editorial) Awarded Project Applies ‘Wonder Material' Graphene to Desalination and Water-Treatment Systems for Greater Efficiency Abu Dhabi-UAE: 28 March, 2017: Masdar Institute ...

 Mar 28 2017 - Emirates Maritime Arbitration Centre sponsors the 10th International Fujairah Bunkering & Fuel Oil Forum (FUJCON)MENAFN Press
(MENAFN Editorial) Dubai, UAE, 28 March, 2017: Emirates Maritime Arbitration Centre (EMAC) will be attending the 10th International Fujairah Bunkering & Fuel Oil Forum as a function sponsor. ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help