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28-Mar-2012 11:08 PM

Middle East regional carriers have profitable outlook for 2012

Analysis

IATA's latest 2012 industry forecast has airlines in the Middle East">Middle East as the big winners, with the annual profit forecast for the region's airlines revised from USD300 million to USD500 million. It does come with a caveat though: a spike in oil prices could turn the forecast profit into a USD200 million loss for the region's airlines.

In 2011, airlines in the Middle East">Middle East reported a combined annual profit of approximately USD1 billion, according to IATA's estimate. Despite the regional disruptions and spiralling price of oil, passengers in the region kept flying and Middle Eastern carriers increasingly developed their links with the rest of the world.

As they have been for years, financial results for Middle Eastern carriers were unevenly spread across the region.

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