Chart: Trump’s new tariffs punish America’s closest allies
Lavrov: situation around JCPOA is crisis
Uber and Lyft end mandatory arbitration for sexual assault claims
Retailer Gap says 'sorry' for T-shirt's incorrect China map
Airline Profits to Keep Rising in 2018
07 December 2017, 02:03 | Vickie Mathis
IATA says Middle East airline net profit will double in 2018
This was contained in IATA's latest analysis of demand for passenger air transport.
Net profit for Europe and Asia is expected to rise to $11.5 billion and $9 billion, respectively.
"As expected, the recent severe weather in the Americas region had only a temporary impact on the healthy travel demand we have seen this year, and we remain on course for another year of above-trend growth", said Alexandre de Juniac, IATA's Director General and Chief Executive in the report. "Despite the challenges, there is positive momentum heading into 2018", said Iata, whose 280 members account for more than three quarters of global air traffic.
Globally, passenger traffic demand rose 7.2 percent compared to the same month previous year, while capacity grew 6.2 percent and load factor climbed 0.8 percentage points to 80.8 percent. "The region's carriers face challenges to their business models, and from low oil revenues, regional conflict, crowded air space, the impact of travel restrictions to the United States, and competition the new "super connector" (Turkish Airlines)".
"Demand for air freight grew by 5.9% in October".
Despite the rise in passenger and cargo numbers, the rate of growth for both will be lower in 2018 then 2017, IATA said.
While IATA expects improved profitability across all regions, North America will continue to lead the way, generating net gains of $16.4 billion. "More routes are being opened".
Cargo is also forecast to continue its recovery, with growth of 4.5 percent expected over this year's total - 62.5 million tonnes against 2017's 59.9 million tonnes.
"Airlines are achieving sustainable levels of profitability", he said while highlighting the challenges of rising fuel costs and well as labour and infrastructure expenses.
"On the other hand, the airline capacity growth in the other Asean markets is more aggressive, namely Singapore, Vietnam, the Philippines and Brunei". De Juniac also cited potential government interference in aviation practices as a factor in the coming year. Aviation is the business of freedom and a catalyst for growth and development.
Longer-term challenges, that de Juniac blamed on governments, are global security standards, tax levels, regulation and infrastructure.
Both are expected to further increase in 2018, but at a slower pace, with an estimated 6 percent increase in passengers and 4.5 percent increase in cargo.
How Prince Harry proposed to Meghan Markle
Britain's Prince Harry poses with Meghan Markle in the Sunken Garden of Kensington Palace, London, Britain, November 27, 2017 . William and Kate said they were "very excited for Harry and Meghan", adding "it has been wonderful getting to know Meghan".
Nigeria draw Argentina, Croatia and Iceland in Group D
The opening game of the World Cup will see hosts Russian Federation take on Saudi Arabia in Group A on Thursday, 14th of June. Nigeria's first game is against Croatia on June 16 in Kaliningrad before facing debutants Iceland in Volgograd on June 22.
Vaccines arrive in Yemen after Saudi Arabia lifts blockade
The International Committee of the Red Cross landed a passenger flight at Sanaa on Wednesday, spokesman Ewan Watson told AFP. Officials at the port said on Saturday that no ships have arrived yet and they were not expecting any to dock soon.
Snow, flurries possible later this week as cold temps settle in
Office meteorologist Charles Powell also warned temperatures could drop even lower than last week as northerly gales blast the UK. Saturday will be cold and mainly dry with sunny spells and again temperatures will struggle to rise about 3-6 degrees Celsius.
Trump weighs plan to oust Tillerson
The favored candidate to replace Tillerson is current CIA Director Mike Pompeo, which would leave a vacancy at the CIA. White House spokeswoman Sarah Huckabee Sanders says there are "no personnel announcements at this time".
Illinois Sues Uber Over 2016 Data Breach
A spokesman for Uber told the BBC the firm is not able to clarify how many United Kingdom drivers are included in the 2.7 million. Hackers stole names, email addresses, and phone numbers of Uber's riders and drivers in October 2016.
Yemen's ex-president Ali Abdullah Saleh killed
The fighting that led to Saleh's death also apparently allowed the Houthis gain control of the majority of Yemen's capital Sanaa. The Houthis' political office on December 2 accused Saleh of staging a "coup" against "an alliance he never believed in".