IATA: Middle East forecast to reach record profits in 2014

IATA director general and CEO Tony Tyler stated (07-Apr-2014) airlines in the Middle East are expected recod a combined USD2.2 billion profit in 2014, a record for the region, and the fast-growing Gulf area is "at the center of the region's success". Mr Tyler noted low cost carriers are "making their mark" in the region and airlines are integrating with the global industry through alliances, strategic partnerships and equity investments. Airline operations are "being facilitated by airport partners who themselves are undergoing a massive investment program". Mr Tyler noted that effective regional air traffic management needs regional and international teamwork and challenges include the proportion of military airspace in the region and increased complexity of airspace management. Several regional working groups are "trying to build a common vision for working together" to deal with the "real and rising problem" of congestion, which threatens regional success. [more - original PR]