Mideast carriers continue to buck global downturn

TRAFFIC GROWTH: Middle East air traffic continues to grow during Nov, according to latest figures. (Getty Images)

Middle Eastern carriers saw traffic increase by 5.6 percent during November, according to figures released on Tuesday by the International Air Transport Association (IATA).

The figures were up from 3.5 percent growth the previous month, but represented a “step-change” from the double digit expansion growth prior to the global economic downturn, said the group.

Freight traffic for the region during the same month declined by 1.6 percent, according to the figures.

Both international passenger and cargo traffic have dropped amid the downturn. In November international passenger traffic fell by 4.6 percent while international cargo traffic decreased by 13.5 percent.

Giovanni Bisignani, IATA’s director general and CEO said he expected “deep losses” in the fourth quarter as the industry continues to shrink “by all measures.”

“The 13.5 percent drop in international cargo is shocking,” he said. “By comparison, this is largest drop since 2001, in the aftermath of September 11.

“With no end in sight for the worsening global economy, the 2008 gloom will carry over into the new year. Relief in the oil price has been outstripped by the falls in demand and capacity cuts are not keeping pace. The industry is back in intensive care.”

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM