The Gulf region's major airlines and airports will be at the forefront of the 'Next Generation Aviation' evolution, says a study conducted by the Sydney-based Centre for Asia Pacific Aviation (Capa).
The Sydney-based group says that Boeing and Airbus expect the Middle East market as a whole to expand by 5.5 per cent and 6.2 per cent per annum on average until 2025.
The Capa report has underlined the value of the Gulf's near-perfect geographic position as a hub. And, this has been enhanced enormously in the past five years by two factors. One is aviation liberalisation, which allows intermediate ports to become valuable crossroad hubs; and the introduction of ultra long-haul aircraft, permitting non-stop service to and from almost any point in the world.
The report says that the Omani aviation sector has undergone significant changes.
Usama Bin Karim Al Haremi, Manager Corporate Communications and Media Department of Oman Air, said: "With the air traffic growth accelerating, the gap between Middle East traffic growth and the rest of the world is also widening, with July traffic hovering some 12.9 percentage points above the global average."
The Capa study said Oman Air reported a $7.5 million profit in 2006, up almost three times on the 2005 result, as more capacity and better yields drove net income. ( Gulf )