The FINANCIAL -- The International Air Transport Association, met with the
Government of Jordan to discuss the further development of safe, secure
and efficient aviation links.
HRH Prince Feisal Bin Al-Hussein and Minister of Transport H.E. Dr. Hashem Al Masaeed received Tony Tyler, IATA’s Director General and CEO. Tyler presented the Prince with a report on the benefits of aviation in Jordan which shows that aviation supports some JOD 994 million in economic activity and 79,300 jobs.
“I thank HRH Prince Feisal and the government for their continued support for IATA’s activities. Jordan is among the world’s leading aviation nations and King Abdullah’s vision for aviation will ensure that our industry continues to contribute to developing the economy and providing high-value jobs,” said Tyler.
Tyler’s visit to Amman occurs at a time of great challenge to the air transport industry. “Globally we are expecting airlines to make an aggregate profit of $3.0 billion in 2012. On $631 billion in revenues, that’s a razor-thin margin of just 0.5%. The Middle East will contribute $0.4 billion to that profit. At this level of profitability, the industry is fragile and the challenges are big. The European sovereign debt crisis continues. And oil prices, despite some recent relief, are expected to average $110 per barrel for the year. That will account for a third of airline costs—more than double the 14% it represented in 2003,” said Tyler.
According to IATA, while in Jordan, Tyler also attended an official reception marking the conclusion of Dr. Majdi Sabri’s 11 years as IATA Regional Vice President (RVP) for the MENA region, and to welcome Hussein Dabbas as IATA’s new RVP for the region. Dabbas joins IATA after a 30-year career in aviation including serving as CEO of Royal Jordanian from 2009.
“I want to pay tribute to Majdi’s achievements in building such a strong team in Amman during that has helped the industry through a period of immense challenges and changes. I welcome Hussein, who will undoubtedly build on those achievements and further increase the effectiveness of our support to our airline members,” said Tyler.