The Arab Air Transportation Association estimates losses incurred by Arab airliners at $300-$400 million in 2001, reported Al-Hayat . The association also reported that Middle East based airlines recorded an average 2.8 percent growth rate in operating revenues in 2001 compared with a projected growth rate of seven percent before the September 11 attacks on the US. The Secretary General of the Air Transportation Association, Abdul-Wahhab Tufaha, said that the lack of passengers obliged the air-carriers to reduce their fares against the association’s wishes. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
