The financial services industry stands on the brink of a new frontier — one where AI and innovation will reshape not only the way businesses operate but also the customer experience itself
Bahrain Air carried some 750,000 passengers during 2009, about 200,000 less its initial forecast, Ibrahim Alhamer, the carrier’s managing director told Reuters on the sidelines of the Bahrain air show.
Passenger traffic in the Middle East has coped with the global economic slowdown better than other regions, but large fleet ordering programmes funded by governments in the world’s largest oil-producing region, and airlines, have significantly reduced prices to keep up load factors. “Though there is growth, there is a lot of capacity being offered in the markets by start-ups and existing airlines adding more frequencies to protect their market share,” Alhamer said.
“I believe that 2010 will be as difficult as 2009 and all airlines will have to struggle to keep their market share and sustain their operations,” he said. He said Bahrain Air plans to add Dhaka and Chittagong in Bangladesh, and Istanbul in Turkey as new destinations during 2010, which would help the airline reach its one million passenger target.
The financial services industry stands on the brink of a new frontier — one where AI and innovation will reshape not only the way businesses operate but also the customer experience itself
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