Quotes: US 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
 Oct 21 2014 - Modi win in 2 states pave way for national overhaulArab News
(MENAFN - Arab News) NEW DELHI: It's been a good weekend for India's Prime Minister Narendra Modi.Two days ago he took his biggest step yet toward boosting the economy with a shift to more ...

 Oct 21 2014 - Sri Lanka heads for snap presidential poll in JanuaryArab News
(MENAFN - Arab News) COLOMBO: Sri Lanka will hold a presidential election in January almost two years ahead of schedule with Mahinda Rajapakse seeking a third term the information minister said ...

 Oct 21 2014 - Industries Qatar Posts QR 4.7 Billion 9Month Net ProfitQatar News Agency
(MENAFN - Qatar News Agency) Doha October 20 (QNA) - Riding on a third quarter net profit of QR 1.9 Billion Industries Qatar (QE: IQCD) posted a net profit of QR 4.7 Billion for nine-month period ...

 Oct 21 2014 - Lufthansa LongHaul Pilots Join StrikeQatar News Agency
(MENAFN - Qatar News Agency) Frankfurt October 20 (QNA) - Long-haul pilots of German Airline Lufthansa said Monday they will join a strike started by their short and medium-haul colleagues who are ...

 Oct 21 2014 - MediCare Group Qatar German Company Disclose Interim Financial StatementsQatar News Agency
(MENAFN - Qatar News Agency) Doha October 20 (QNA) - MediCare Group disclosed the interim financial statements for the period ending September 30 2014. The interim financial statements revealed a ...

 Oct 21 2014 - Pakistan's Army Chief Heads to IndonesiaQatar News Agency
(MENAFN - Qatar News Agency) Islamabad October 21 (QNA) - Pakistani Army Chief of Staff Gen. Rachel Sharif headed to Indonesia last night for a three-day visit. According to a statement issued by ...

 Oct 21 2014 - Qatar- HH the Emir Meets Azerbaijan's Emergency MinisterQatar News Agency
(MENAFN - Qatar News Agency) Doha Doha (date) - HH the Emir Sheikh Tamim bin Hamad Al-Thani met here Monday morning at Al Bahr Palace with Minister of Emergency Situations of the Republic of ...

 Oct 21 2014 - Bin Alawi Meets Tanzanian Parliament SpeakerQatar News Agency
(MENAFN - Qatar News Agency) Muscat October 20 (QNA) - Omani Minister in Charge of Foreign Affairs Youssuf bin Alawi bin Abdullah met here today with Speaker of Tanzanian Parliament Anne Makinda. ...

 Oct 21 2014 - Qatar- HH Sheikha Moza Opens 31st IASP World ConferenceQatar News Agency
(MENAFN - Qatar News Agency) Doha October 20 (QNA) - Chairperson of Qatar Foundation for Education Science and Community Development (QF) opened today the 31st World Conference of the International ...

 Oct 21 2014 - Qatar- BDF CommanderinChief Meets Commander of the Joint Peninsula ShieldQatar News Agency
(MENAFN - Qatar News Agency) Manama October 20 (QNA) - Commander-in-Chief of the Bahrain Defense Force (BDF) Field Marshal Sheikh Khalifa bin Ahmed Al Khalifa met here Monday with the Joint Peninsula ...

more...


 






Google

Click to Apply

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help