Business Services Industry
MIDDLE EAST: ARAB AIRLINE COMPANIES' LOSSES VALUED $500 MILLION.(Brief Article)
IPR Strategic Business Information Database, November, 2001
According to Al-Ra'i newspaper (October 28, 2001), the Director General of the Arab Civil Aviation Authority, Mr. Abdul-Jawad Al-Daoudy, estimates $500 million in losses for the Arab airline companies after the September 11 attacks on the US. The Director expects Arab air-carrier operations to decrease by an average of 15-20 percent in both leisure and business flights.
Mr. Daoudy pointed out that despite the loss of business there has been a 25 percent fall in kerosene fuel prices. Kerosene constitutes 25-30 percent of the airline spending.
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