Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

IATA sees robust air-cargo growth in the Middle East  Join our daily free Newsletter

MENAFN - Muscat Daily - 04/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) While the air-cargo business has witnessed weak growth over the past few years in most regions, in the Middle East, and the GCC, in particular, the sector continues to post robust growth, according to the International Air Transport Association (IATA).

The trade body said airlines in the region are benefiting from better conditions in advanced economies, but trade activity with emerging markets continues to provide a strong base for growth, with various goods passing through the Middle Eastern hubs to Asia and Africa.

Addressing mediapersons on the sidelines of the IATA annual general meeting in Doha on Tuesday, Glyn Hughes, director of cargo industry management at IATA, said, ''Air cargo is a significant component in the revenues of the Gulf carriers. The region sees cargo as a key component and is building fantastic facilities for the segment as part of airport development. Investments in aircargo infrastructure are really supporting and facilitating the growth, which is the highest in the Gulf region.''

''Gulf carriers have effectively grown fleets and expanded their networks with global connectivity. We believe the double-digit growth in air-cargo demand will continue in the region.'' Hughes said Gulf countries, however, need to look into airtraffic congestion, which is a potential issue in the region.

According to IATA statistics, carriers in the Middle East continue to see the highest rates of growth among regions, with aircargo demand rising 11 per cent during the first four months of 2014 compared with the same period of the previous year.

It said available air-cargo capacity in the region grew by 9.1 per cent, again the highest among the regions. ''Regional carriers continue to expand capacity as well as increase their network and services, broadening the types of commodities they transport. Capacity is growing, but slightly lower than demand. It is a good sign that Gulf carriers are managing growth very well,'' added Hughes.

He said that, at the global level, the last four years have seen significant passenger business growth while air cargo has contracted, which points to the need for a fundamental redesign of the air-cargo business.

Hughes added that goods worth US6.8tn are transported by air cargo annually which equates to over 35 per cent of international trade in value terms, yet only less than one per cent by volume, illustrating the high value of goods moved by the air secto


 


Muscat Daily




  MENA News Headlines
 Oct 23 2014 - Kuwait- Equates wins two regional sustainability awardsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Kuwait's EQUATE Petrochemical Company has won two regional sustainability awards in recognition for its social responsibility and national cadres' skills ...

 Oct 23 2014 - Moroccan horse showThe Peninsula
(MENAFN - The Peninsula) Moroccan horsemen perform during the 7th edition of the "Salon du Cheval" (horse show) in the port city of El Jadida. ...

 Oct 23 2014 - Kuwaiti Jazeera Airways net profit up 22.6 percent in Q3MENAFN
(MENAFN) Kuwait-based Al Jazeera Airways group announced it has registered USD28 million in net profit for the July-September period of this year, an increase by 22.6 percent compared to the same ...

 Oct 23 2014 - Qatar- Lekhwiya defeat Al Wakra, Wolves heldThe Peninsula
(MENAFN - The Peninsula) Lekhwiya defeated Al Wakra 2-0 at their home ground here yesterday while Al Sadd were held 1-1 by Al Sailiya.Vadimir Weiss scored in the 68th minute for Lekhwiya and Ahmed ...

 Oct 23 2014 - Ooredoo Kuwait net profit falls by almost half in Q3MENAFN
(MENAFN) Ooredoo Kuwait, the country's No.3 telecom operator by subscribers, announced that its net profit fell by nearly half during the July-September period, Gulf Business reported.The ...

 Oct 23 2014 - Coach asks Qatar to give it all against DPR KoreaThe Peninsula
(MENAFN - The Peninsula) Qatar's coach Felix Sanchez Bas has called on his players to give their all one-last time ahead of today's AFC U-19 Championship final against three-time winners DPR Korea. ...

 Oct 23 2014 - Qatar- Handball: Doha gears up for Asian Club LeagueThe Peninsula
(MENAFN - The Peninsula) Defending champions Al Jaish - thanks to the draw - have managed to avoid a meeting with local opponents Lekhwiya and Al Gharafa in the group stage of the 17th Asian Clubs ...

 Oct 23 2014 - QIMC posts USD38.88m net profit in SeptemberMENAFN
(MENAFN) Qatar Industrial Manufacturing Company (QIMC) revealed the interim financial statements for the period ending in September 30, this year, QNA reported.The interim financial statements ...

 Oct 23 2014 - Qatar will deliver an impressive 2022 World Cup, says BrescianoThe Peninsula
(MENAFN - The Peninsula) Australian midfielder Mark Bresciano is confident that Qatar will deliver an 'impressive' World Cup eight years down the line.Bresciano, who has been playing for the last two ...

 Oct 23 2014 - Qatar- QP hosts team from Kuwait Oil CompanyThe Peninsula
(MENAFN - The Peninsula) Qatar Petroleum (QP) recently hosted a delegation from Kuwait Oil Company (KOC) who visited Qatar to gain insights on QP's marine activities and port operations.Mubarak ...

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

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