Middle East airline passenger numbers projected to climb 7% in 2018

  DUBAI - Middle East passenger numbers are forecast to grow by 7 percent in 2018 despite fluctuating oil prices, according to the International Air Transport Association. Aviation will feature heavily in the programme at Arabian Travel Market (ATM) 2018, which is being held from April 22 to 25 at the Dubai World Trade Centre. Alan Peaford, president of the UK’s Institute of Internal Communications and five-time Aerospace Journalist of the Year awardee, said: "Aviation and aerospace is thriving despite lower oil prices. Even with regional uncertainties aviation continues to grow." The Arab air transport market grew by 9.9 percent in the past year, according to the Arab Air Carriers Organisation. "Growth figures like these should support lively debate at ATM 2018 and provide an element of cautious optimism,” said Peaford, who will be hosting ATM in Dubai. IATA figures also revealed that Middle East airlines will see net profits doubling to $600 million in 2018, double what they are estimated to make this year. Passenger capacity is also estimated to rise by 6.6 percent this year and a further 4.9 percent increase is forecast for 2018. The Emirates Group posted a revenue of Dh49.4 billion (US$13.5 billion) for the first six months of its 2017-2018 financial year, up 6 percent from Dh46.5 billion (US$12.7 billion) during the same period last year. However, Etihad Airways bucked the trend in July when it posted a group loss of Dh6.86 billion ($1.87 billion) for 2016. The figure was heavily influenced by one-off impairments that included Dh3.67 billion ($1 billion) on aircraft and Dh2.96 billion ($808 million) on exposures to the ailing carriers Alitalia and Air Berlin. Air Arabia saw profits rise in this year's second quarter, up 21 percent to Dh157.93 million ($43 million) from the same period last year, although revenues were flat, rising 1.3 percent to Dh907.23 million ($247 million). But Flydubai reported losses of Dh143.24 million ($39 million) on revenues of Dh2.5 billion ($689 million) for the first half of 2017. Simon Press, Senior Exhibition Director, Arabian Travel Market, said: “As this mixed bag of results demonstrate, there are continued challenges to be faced by the aviation sector in the Middle East. This includes the US Supreme Court’s decision to back President Donald Trump’s third travel ban, blocking the entry of travellers from Chad, Iran, Libya, Somalia, Syria and Yemen." “President Trump’s protectionist agenda may also impact the Open Skies Agreement which US airlines have campaigned bitterly against for several years,” Press said. The success of the aviation industry in the sky is matched in the Middle East by the continued huge infrastructure investment. The total value of 152 active aviation-related projects in the Middle East reached $57.7 billion (Dh211.8 billion) at the end of April 2017, according to research provider BNC Network. In the GCC countries, Saudi Arabia accounted for the largest share of project value (at 46 per cent of the GCC’s total), followed by the UAE (26 per cent), and Kuwait (12 per cent). The Gulf region’s aviation projects also accounted for 72 per cent of the total estimated value for all aviation projects in the Middle East and North Africa. 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