(MENAFN) Lower oil prices and stronger global GDP (gross domestic product) will see Middle East airlines yielding a net profit of USD1.6 billion in 2015, increasing from this year's forecast of USD1.1 billion, the International Air Transport Association (IATA) said, Gulf News reported.
The aviation watchdog, however, revised downwards its forecast for the region's airlines, to USD1.1 billion for this year, compared to the USD1.6 billion prediction in June.
IATA sees 2015 airline industry profit at USD25 billion, up from the USD19.9 billion in 2014 (revised upwards from the USD18 billion industry profit expected in June).
"Lower oil price has to be good for airlines," IATA's Director General and Chief Executive Officer said.
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