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 markets rose 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
 Jan 31 2015 - Vodafone Qatar revenue up 21 percent in 9MMENAFN
(MENAFN) Vodafone Qatar's said its total revenue grew by 21 percent to USD474.59 billion for the nine months ended December 31, 2014, The Peninsula Qatar reported.The company's mobile customer base ...

 Jan 31 2015 - Qatar Airways to acquire 10 percent of IAGMENAFN
(MENAFN) Qatar Airways announced that it has bought nearly 10 percent of the parent company of British Airways and Spain's Iberia, deepening wealthy Qatar's business ties to Europe, Arab News ...

 Jan 31 2015 - Saudi RCJY signs three deals worth USD138.25mMENAFN
(MENAFN) Chairman of the Royal Commission for Jubail and Yanbu (RCJY) signed three contracts worth USD138.25 million to provide essential equipment and develop industrial zones, Arab News ...

 Jan 31 2015 - Saudi- Outspoken prince to launch pan-Arab news channelThe Peninsula
(MENAFN - The Peninsula) An outspoken, billionaire Saudi prince will on Sunday launch a pan-Arab satellite news channel aimed at challenging established networks in the region.Prince Alwaleed bin ...

 Jan 31 2015 - Qaeda in Yemen says France top enemyThe Peninsula
(MENAFN - The Peninsula) The ideological leader of Yemen-based Al-Qaeda in the Arabian Peninsula (AQAP) said Friday that France had surpassed the United States as the top enemy of Islam.With the ...

 Jan 31 2015 - Qaeda group launches assault on Western-backed Syria rebelsThe Peninsula
(MENAFN - The Peninsula) Al-Qaeda's affiliate in Syria battled Western-backed rebels Friday as the jihadists pressed their bid to seize control of northern areas, a monitoring group and rebels ...

 Jan 31 2015 - Iraq- Air strike kills IS 'chemical weapons expert'The Peninsula
(MENAFN - The Peninsula) A US-led coalition air strike killed a chemical weapons specialist with the Islamic State group in Iraq who once worked for Saddam Hussein, US military officers said ...

 Jan 31 2015 - FM honours Qatari missionsThe Peninsula
(MENAFN - The Peninsula) The second annual general meeting of heads of Qatar's diplomatic, consular and representative missions abroad ended in the presence of the Foreign Minister H E Dr Khalid bin ...

 Jan 31 2015 - Qatar- Demand for books declines as craze for movies risesThe Peninsula
(MENAFN - The Peninsula) The charm of printed words is fading away in Qatar and the craze for movies is peaking, according to report released by the Ministry of Development Planning and ...

 Jan 31 2015 - Qatar- HBKU hosts graduate students from USThe Peninsula
(MENAFN - The Peninsula) Hamad Bin Khalifa University (HBKU), a member of Qatar Foundation for Education, Science and Community Development (QF), hosted 25 faculty, staff and graduate students from ...

more...


 






Google

Electronic & Mobile Payment

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

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