25-Feb-2011 1:01 PM

Airlines set for losses as Middle East unrest continues: IATA

IATA’s SVP for safety, operations and infrastructure Gunther Matschnigg stated airlines with interests in the Middle East and North Africa could face losses this year, as tourism plummets and oil prices surge amid political uncertainty and escalating violence (Arabian Business/Reuters, 24-Feb-2011). Mr Matschnigg stated that if the unrest continues, “it might reach a point where airlines cannot fly into these countries." Gulf-based carriers and other European airlines, particularly leisure-oriented airlines, will be affected by the crisis.