Cargolux Airlines International SA (26-Jan-2011) and 10 other airlines were fined by the European Commission for allegedly operating a cartel in airfreight on 09-Nov-2010. The company will file an appeal against the decision to impose a EUR79.9 million fine on Cargolux out of a total amount of EUR799.4 million for colluding to set fuel and security surcharges between 2000 and 2006. [more]
Cargolux files appeal against European Commission decision
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Political uncertainty and overcapacity could sideswipe Middle East airline performance in 2017
Aviation is fundamentally a business of cycles and the Middle East has been slowly transitioning from a long upswing in traffic growth and airline profitability into a plateauing that brings with it new initiatives in partnerships and profile. Although the UAE and Qatari airlines are usually the focus of attention, it is a region with vastly differing attitudes and policies.
Persistent traffic growth, lower fuel costs and aviation friendly investment policies are keeping the underlying fundamentals in the Middle East generally positive. However, there are strong signs that the strong run of regional profitability is fading and growth rates have already retreated considerably. At the same time, Saudi Arabia is beginning to liberalise its market, perhaps promising a future larger global role.
The region is more exposed to oil price, conflict and instability influences than others and this is having its toll on GDP growth and, necessarily, on airline operations.