Middle East Outlook: Gulf-led expansion continues, despite the oil price slump

Aviation in the Middle East is set for another year of healthy growth in 2016. The region's largest airlines will continue to dominate growth and profits, as well as the strategic landscape, but fortunes for the region's smaller carriers are brightening. The main macro factors shaping the regional outlook are continued low oil prices - a boon to airlines, but a concern for some economies - the evolution of the regional security/political situation and the lifting of sanctions on Iran. Slowing growth in major export partners could also weigh on the outlook.