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IATA Optimistic on Gulf Airlines Resilience
The International Air Transport Association (IATA) expressed optimism about the future of Gulf airlines, which have been impacted by the war in the Middle East. It emphasized that these airlines possess the necessary means to overcome the crisis, including reliance on their financial reserves and loans if needed. IATA also noted that the rise in oil prices resulting from the tensions has led to increased operational costs, with the price of a barrel of Brent crude jumping from around $70 to $93. Additionally, kerosene prices have more than doubled since the start of the war. Data indicates that air traffic in Egypt increased by 480% within three hours, demonstrating high efficiency in air traffic management.
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