A Qatar Airways Airbus A350 XWB aircraft is displayed at the Singapore Airshow at Changi Exhibition Center February 18, 2016. REUTERS/Edgar Su
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Remember the days when Arab conquerors were laying waste to the global airline industry?Shares of Chinese carriers surged Thursday, led by Cathay Pacific Airways Ltd.'s strongest gain in six years. The fleet of aircraft that Emirates, Qatar Airways Ltd. and Etihad Airways PJSC have unleashed on the skies is being recalled to port: Passenger traffic growth will be just 7 percent this year, according to IATA, less than half its pace in 2012 .Emirates and Etihad, despite being on the majority side of the dispute, could each lose 15 percent of revenue as well.Emirates, the big beast of the three Gulf carriers, is facing equally fundamental problems.The Gulf's carriers still have formidable strengths, and Emirates' move toward buying $8.7 billion more A380s suggests its confidence remains undimmed.
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