Middle East to lead global airline industry growth this year

The Middle East is set to be the fastest-growing region of the world for the airline industry this year, according to new forecasts issued by ratings agency Moody’s, with the highest growth in terms of both new airline capacity and revenue passenger kilometers. The bright predictions for the region comes despite some recent worrying signs of a slowdown among two of the region’s largest carriers, with Etihad laying off staff and Emirates Airline reporting a sharp fall in profits. And while the Middle East may be the strongest market, its lead is being chipped away. “The Middle East and Asia-Pacific will continue to lead among all regions, with RPK growth of 9% and 7%, respectively,” says Jonathan Root, VP at Moody’s. “However, these rates represent declines of 1.8 and 1.9 percentage points in their respective growth rates." <br/>