AVIATION
Through the storm
August 2010
Gulf airlines have navigated the worst of the global economic crisis, but further liberalisation is needed if the region is to harness the full economic impact of the industry
The French have a phrase for it: ‘plus ca change, plus c’est la meme chose’. The more things change, the more things stay the same.
It’s a maxim which one could apply to the continued growth of the Gulf’s aviation industry during a time of unprecedented economic stress.
In 2008, at the Farnborough Airshow – the biennial UK event which is closely scrutinised by aviation industry watchers the world over – as commercial airlines complained that record oil prices were rendering their business model perilously close to unsustainable, a Gulf carrier threw down the gauntlet to its rivals.
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