Quotes: 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
 Jan 26 2015 - GCC Secretary General Receives France AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) Secretary General of Gulf Cooperation Council (GCC) Dr. Abdullatif bin Rashid Al-Zayani received here today the French Ambassador to the Kingdom of Saudi Arabia, ...

 Jan 26 2015 - Guinean President Arrives in Riyadh to Offer Condolences on Death of Late King AbdullahSaudi Press Agency
(MENAFN - Saudi Press Agency) Guinea's president Alpha Conde arrived here today to offer condolences on the death of late King Abdullah bin Abdulaziz Al Saud. At Riyadh Air Base Airport, Guinean ...

 Jan 26 2015 - Russia's Putin says Kiev refuses political solution to crisis in eastSaudi Press Agency
(MENAFN - Saudi Press Agency) Russian President Vladimir Putin said on Monday that the Kiev government was refusing a political solution to violence in the eastern Ukraine where fighting has flared ...

 Jan 26 2015 - Alexis Tsipras sworn in as Greek prime ministerSaudi Press Agency
(MENAFN - Saudi Press Agency) Athens, Rabi'II 6, 1436, Jan 26, 2015, SPA - Leftist SYRIZA leader Alexis Tsipras is sworn in as Greece's new prime minister, hours after his party's landslide win in ...

 Jan 26 2015 - Côte d'Ivoire's President Arrives in Riyadh to Offer Condolences on Death of Late King AbdullahSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Rabi'II 06, 1436, January 26, 2015, SPA - President of CØ£´te d'Ivoire Alassane Ouattara arrived here today to offer condolences on the death of late King ...

 Jan 26 2015 - FGB announces deal with Dalma EnergyEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 25th January, 2015 (WAM) - FGB looks to maintain strong growth in 2015 having already closed a USD 313.7 million secured syndication facility on ...

 Jan 26 2015 - Dubai Islamic Bank Group net profit up by 63 per cent to AED 2.8 billion in 2014Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 25th January, 2015 (WAM)-Dubai Islamic Bank (DFM: DIB), today announced that its net profit surged by 63 per cent to AED 2.80 billion, up 63 per cent in ...

 Jan 26 2015 - FCCI organises first Serbian Business and Investment ForumEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 25th January 2015 (WAM) -- Federation of UAE Chambers of Commerce and Industry (FCCI) on Sunday organised the First Serbian Business and Investment ...

 Jan 26 2015 - DAE, Azul announce completion of Sale Leaseback TransactionsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 26th January, 2015 (WAM) - Dubai Aerospace Enterprise, DAE, and Azul Brazilian Airlines, today announced that they had recently completed delivery of 5 ...

 Jan 26 2015 - OPEC daily basket price for Friday 23rd January 2015Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) VIENNA, 26th January, 2015 (WAM) - The price of OPEC's basket of twelve crudes stood at US$ 43.69 dollars a barrel on Friday, compared with $43.05 the previous ...

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