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Feasting on success
01 December 2007
The Middle East region's aviation market is booming so much that it should be renamed Middle Feast, reports Will Roberts. The Asia-Pacific countries, though, have their eyes focused on testing times ahead.
Read more:
Emirates
Asiana
credit crunch
Brian Jeffery
oil prices
Airlines in the Middle East and the Asia-Pacific have enjoyed a good year and have reported strong profits on the back of a surge in demand for air travel. The Dubai Air Show served as a showcase for the Middle East aviation industry, with Emirates in particular sending out a strong message of intent to the rest of the world.
That such success came in a year when the financial markets buckled under the stress of the sub-prime crisis and fuel prices rocketed demonstrates the strength of the region's airlines. Still to describe these aviation economies as emerging could well be redundant. The Middle East is fast becoming the Middle Feast in aviation terms.
Emirates, the Middle East's largest carrier, has had an eventful 2007. "It has been a really successful year for us," says Brian Jeffery, senior vice-president. "Firstly, we achieved record half-year results – operating revenue was up...
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