Air Arabia CEO forecasts civil aviation expansion and industry reforms |
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Expansion makes air transport industry world's fastest growing
Says Middle East economic trends favour ongoing expansion
Amman, November 23, 2008: Expansion of the air transport sector has made it the fastest growing industry in the world, says the Chief Executive Officer of Air ArabiaAir Arabia
, the first and largest low-cost carrier (LCC) in the Middle East and North Africa. Speaking at the Middle East Public Transport Conference and Exhibition (JOTRANS) in Amman, he stated that, in light of the region's booming economy since 2001, its share of international passenger traffic has grown from five per cent to ten per cent. He added that low-cost carriers are stimulating growth and globally they are the most profitable business models. Addressing that, regionally, air travel is the only means of state-to-state transport, Ali adds that for every US$100 spent on air transport, the regional economy benefits by US$325 and for every 100 additional jobs made in air transport, results in 610 new other jobs.
"Air travel today is no longer a luxury but a necessity. Consider the demographics of the region where the population is one of the fastest growing, where 100 million people are under the age of 24 and millions more are expatriates - air travel is often their only option," said Ali.
"Open-skies initiatives, signed in 2004, are a start to opening up and liberalising the air travel market in the region, giving rise to the abolition of monopolies, greater competition and potentially lower fares. The full adoption of open-skies policies is yet to happen; however, their partial adoption has already improved some of the region's economies, and in light of the global economic downturn and fluctuating oil prices, total open-skies initiatives are an economic must so that the industry can react commercially, without unnecessary red tape and interference.
Acknowledging that challenges still remain in the civil aviation sector, Ali said that, while still maintaining 50 per cent lower fares compared to full-service airlines, the outlook for LCCs is bright. "Air ArabiaAir Arabia continues to adapt upon the globally proven LCC model to the unique needs of this region. While focusing on providing the highest level of service offerings at the most competitive fares, Air ArabiaAir Arabia continues to be the regional leader for reliable low-cost air travel solutions.
"In this, our fifth anniversary year, we have experienced record profits and growth - expanding our fleet of aircraft to 16 and our list of destinations to 44, we are setting new benchmarks, not only in this region but across the globe," Ali added.
-Ends-
About Air ArabiaAir Arabia:
Air ArabiaAir Arabia (PJSC), listed on the Dubai Financial Market, is the Middle East and North Africa's leading low-cost carrier (LCC). Air ArabiaAir Arabia commenced operations in October 2003 and currently operates a fleet of 16 new Airbus A320 aircraft, serving 44 destinations across the Middle East, North Africa, South Asia and Central Asia through its main hub in Sharjah, United Arab Emirates.
Air ArabiaAir Arabia is modeled after leading American and European low-cost airlines, and its business model is customised to accommodate local preferences. Its main focus is to make air travel more convenient through Internet bookings and offering the lowest fares in the market along with the highest levels of safety and service standards. For further information, please visit: www.airarabia.com
For further information, please contact:
Housam Raydan
Corporate Communications Manager
Air ArabiaAir Arabia PJSC
Sharjah, UAE
Tel: 971-6-5088968
Fax: 971-6-5580031
E-mail: hraydan@airarabia.com
Nicholas Nesson / Neil Fraser / Ghaleb Zeidan
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
E-mail: n.nesson@asdaa.com / n.fraser@asdaa.com / g.zeidan@asdaa.com
© Press Release 2008
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Inform Adel Ali prior to declaring fame for ARABIA his fleet of plane/s must be on time and not having six hour delays... otherwise, this glorified bubble will burst.Since I can see from your article in zawya that his picture was taken in an air-conditioned office and NOT on the shop floor.. [Report Abuse | Email to a Friend | Reply to this Comment]