IATA upgrades Middle East aviation prospects

DUBAI, June 3 (Xinhua) -- In its spring update on the civil aviation industry worldwide, International Air Transport Association (IATA) upgraded the global outlook for the airline industry to a 12.7 billion U.S. dollars-profit in 2013, up 19.8 percent compared to the previous outlook released in March.

In the Middle East, passenger demand is expected to continue apace at 15 percent, "well ahead of the anticipated 12.6 percent capacity expansion," said the report.

The region's successful hubs continue to connect long-haul traffic, with particular strength in facilitating connectivity to emerging economies in Asia and Africa, added IATA.

Despite the overall positive prospects, Tony Tyler, IATA's director general and chief executive, said the margins in the industry remained slim. "This is a very tough business," said Tyler, commenting on the outlook. "Oil prices are expected to average 108 U.S. dollars per barrel (Brent)," said IATA, "a little below the 111.8 U.S. dollars average for 2012, in part due to increasing supply from North America."

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