Middle East air passenger demand up in July

The Middle East-North America market has been affected by a combination of factors in 2017, including the recently lifted cabin ban on large portable electronic devices. (Reuters)
Updated 07 September 2017

Middle East air passenger demand up in July

DUBAI: Middle East carriers registered a 4.5 percent increase in passenger demand for July, the International Air Transport Association (IATA) said.
This was an acceleration from the 3.6 percent growth reported in June, but still way below the five-year average pace of 11.2 percent, the group said.
“The Middle East-North America market has been affected by a combination of factors in 2017, including the recently-lifted cabin ban on large portable electronic devices, as well as a wider impact from the proposed travel bans to the US,” IATA said.
“Traffic growth on the Middle East-US route was already slowing in early 2017, in line with a moderation in the pace of expansion of nonstop services by the largest Middle Eastern airlines.”
The US Department of Homeland Security earlier lifted restrictions on electronic items inside cabins of aircraft flying from Gulf, Middle East and North Africa airports after carries implemented measures to address concerns about terrorism.
“Traffic growth on the segment was already slowing in early-2017, in line with a moderation in the pace of growth of non-stop services flown by the largest Middle Eastern airlines,” IATA said.
On a global scale, international passenger demand expanded at a slower 6.2 percent in July, compared with 7.6 percent in June, while capacity climbed 5.5 percent and load factor went up 0.5 percentage points to 84.6 percent.
European carriers posted a 7.5 percent rise in traffic for July compared to a year ago, down from 8.8 percent annual growth in June. Passenger traffic for the Asia-Pacific airlines’ meanwhile deceleration to 5.9 percent in July, against 8.8 percent a month earlier.
North American airlines’ passenger traffic climbed 3.5 percent while Latin American carriers recorded the strongest growth among regions, posting a 10.5 percent demand rise compared to July 2016.
African airlines experienced a 6.5 percent increase in traffic compared to a year ago, down from 9.8 percent demand growth in June
“As is evidenced by the record high load factor in July, the appetite for air travel remains very strong. However, the stimulus effect of lower fares is softening in the face of rising cost inputs. This suggests a moderating in the supportive demand backdrop,” said Alexandre de Juniac, IATA’s Director General and CEO.


China aims for sustained and healthy economic development

Updated 30 October 2020

China aims for sustained and healthy economic development

  • Beijing to let market forces play decisive role in resources allocation, report says

BEIJING: China is targeting sustained and healthy economic development in the five years to 2025, with an emphasis on a higher quality of growth, the Xinhua news agency said on Thursday, citing the ruling Communist Party’s Central Committee.

President Xi Jinping and members of the Central Committee, the largest of the ruling party’s elite decision-making bodies, met behind closed doors from Monday to lay out the 14th five-year plan, a blueprint for economic and social development.

China’s external environment “is getting more complicated,” the agency said, adding, “There is a significant increase in instabilities and uncertainties.”

BACKGROUND

China aims to boost its gross domestic product (GDP) per person to the level of moderately developed countries by 2035, while GDP is due to top 100 trillion yuan ($15 trillion) in 2020.

However, the country’s development was still in a period of important strategic opportunities, despite new challenges, it said.

It added that China aims to boost its gross domestic product (GDP) per person to the level of moderately developed countries by 2035, while GDP is due to top 100 trillion yuan ($15 trillion) in 2020.

China will also deepen reforms and let market forces play a decisive role in resources allocation, the agency said.

China will promote a “dual circulation” model, make self-sufficiency in technology a strategic pillar for development, move to develop and urbanize regions, and combine efforts to expand domestic demand with supply-side reforms, it added.

The “dual circulation” strategy, first proposed by Xi in May, envisages that China’s next phase of development will depend mainly on “domestic circulation” or an internal cycle of production, distribution and consumption, backed by domestic technological innovation.