Skip to content Skip to Search
Skip navigation

Middle East open to new airlines to meet demand

  • Region to need 3,000 new jets
  • Gulf ‘ready for more entrants’
  • Middle East loads climb

Boeing sold nearly 200 jets to Middle Eastern airlines during this year’s Dubai Airshow and the US plane manufacturer believes the region is ready for “more new entrants”.

“Because of the geography and economic growth, this region will support more competition and new entrants, not only for local passengers but also for connecting economies throughout the word,” Darren Hulst, vice president of commercial marketing at Boeing, told AGBI

A study by the aerospace giant revealed that the region will need 3,025 new airplanes by 2042 to meet air travel demands. 

Saudi Arabia has announced plans to launch two new airlines, Riyadh Air and Neom Air, and Hulst believes the kingdom is most likely to launch new airlines in the near term. 

The International Air Transport Association announced this month that the strong post-pandemic rebound in passenger traffic trend continued in September. Total global traffic is now at 97 percent of pre-Covid levels. 

Middle Eastern airlines saw a 26.6 percent rise year-on-year in September, with the average load factor climbing 1.9 percentage points to 81.8 percent. 

Watch the full video to find out why Darren Hulst thinks that airplane ticket costs are one of  the “least inflation-impacted parts of the global economy”.

Latest articles

The Saudi government is trying to raise home ownership among nationals to 70 percent of the population by 2030, which is helping to drive up residential property prices

Residential price rise counters slip in Saudi commercial property

Residential property was the driving force behind a rise in Saudi Arabian real estate prices in the first quarter of 2024 as prices of commercial real estate fell, government statistics released this week showed.  The overall real estate price index rose by 0.6 percent compared with the same quarter in 2023. But while there was […]

Residents in Muscat. Oman's government is taking steps to increase the size of its debt market

Sukuk takes bigger slice of Oman’s shrinking debt market

Oman’s total debt capital market contracted by 7 percent to $44 billion last year as the government took advantage of its budget surplus from higher oil and gas prices to make early payments. The energy boon helped its budget surplus total $2.4 billion. Despite the shrinking debt market Fitch Ratings said sukuk issuance in Oman […]

Marcel Ciolacu, Romania's PM, speaks to reporters in Rome. He is now in Qatar for trade talks

Romania touts $16bn of opportunities as PM visits Qatar

Romania is looking to secure €15 billion ($16 billion) of investment from Qatar during a visit by its prime minister, Marcel Ciolacu. He is set to hold talks with Qatar’s prime minister and minister of foreign affairs, Mohammed bin Abdulrahman bin Jassim Al Thani. Ciolacu is also due to have discussions with representatives of Qatar […]

The under-construction Zayed National Museum in Abu Dhabi

UAE wealth fund ADQ buys stake in Abu Dhabi builder

UAE sovereign wealth fund ADQ is acquiring a stake in the construction company building the Guggenheim and Zayed National museums in Abu Dhabi. Alpha Dhabi Holding (ADH), an investment holding company, announced in a filing to the Abu Dhabi Stock Exchange on Tuesday that it will divest 49 percent of its subsidiary Alpha Dhabi Construction […]