Opinion Aviation Etihad’s IPO is a risky proposition There is no doubt competition is going to get tougher in the Middle East aviation market March 19, 2024
Transport Saudi sovereign fund in talks to buy national airline Saudi Arabia’s Public Investment Fund is in discussions to acquire the kingdom’s national airline, reports released on Monday indicate. The $940 billion sovereign fund is looking to add Saudia, formerly known as Saudi Arabian Airlines, to its portfolio and a deal could be completed as soon as next year, according to a report by Bloomberg, […] March 18, 2024
Aviation Air taxi makers promise Dubai-Abu Dhabi commute in 30 minutes Flying cars could cut the commute between Dubai and Abu Dhabi to 30 minutes next year after a deal between Archer Aviation of the US and the UAE’s Falcon Aviation. Under the agreement, the two will develop air taxi vertiports at the Falcon heliport at Atlantis the Palm in Dubai and the Marina Mall heliport […] March 12, 2024
Aviation Hotels and airports profit from Oman’s rise in visitors Revenues for hotel operators in Oman rose by 17 percent to OR25 million ($64 million) in January as passenger numbers through the sultanate’s airports increased by more than one-fifth. Oman welcomed more than 1.4 million people through its main airports in Muscat, Salalah, Sohar and Duqm, according to data from the National Centre for Statistics […] March 12, 2024
Business of Sport Oman Air and Chelsea FC ‘terminate sponsorship deal’ A sponsorship deal between Oman Air and English Premier League club Chelsea FC has reportedly been terminated less than a year after it was signed. The three-year agreement was believed to be worth about £2 million ($2.5 million) a year and was announced last July. The partnership, which made the flag carrier the club’s global […] March 11, 2024
Aviation ADQ taps banks for Etihad Airways’ potential listing ADQ, the UAE’s sovereign wealth fund, has tapped advisers, including Citigroup, HSBC Holdings and First Abu Dhabi Bank, for a potential initial public offering of Etihad Airways. Rothschild & Co. will act as an independent financial adviser, Bloomberg reported, citing informed sources. The fund may add more banks later, they said. In 2022, Abu Dhabi’s […] March 8, 2024
Aviation Etihad posts soaring net profit and anticipates IPO Abu Dhabi’s Etihad Airways grew its net profit more than fivefold to AED525 million ($143 million) in 2023, helped by a 40 percent increase in passengers and AED20.3 billion ($5.5 billion) of revenues. The emirate’s state-owned airline gave staff a heads-up about its 2023 financial performance in an internal memo sent on January 25, AGBI […] March 6, 2024
Opinion Transport Emirates ‘warms up’ the Miami-Bogota route The latest route in a long line of Fifth Freedom destinations March 6, 2024
Aviation Qatar Airways’ A350 fleet returns to the skies State-backed Qatar Airways has put its entire fleet of A350 jetliners back into service, a year after settling a dispute with European planemaker Airbus over flaking paint, a media report said. The A350 fleet is now completely repaired and back in air, chief commercial officer Thierry Antinori told Reuters. “You know we had this little […] March 6, 2024
Aviation Middle East aviation fleet to double in next decade The number of aeroplanes operated by commercial airlines across the Middle East will grow by more than half to 2,200 over the next 10 years, according to a report from Oliver Wyman, the consultants. The size of the Middle East aviation fleet is projected to increase at an annual rate of 4.2 percent from 2024 […] March 5, 2024
Aviation ADIA builds up stake in Indian carrier SpiceJet Abu Dhabi Investment Authority (ADIA), the UAE’s largest sovereign wealth fund, has acquired shares in India’s budget carrier SpiceJet, according to Indian media reports. “ADIA has acquired shares of the airline from the open market,” a SpiceJet spokesperson told moneycontrol.com, an Indian financial website. No details were given on the percentage of the stake acquired […] March 5, 2024
Aviation Aviation spends billions on IT to improve experience The aviation sector invested billions into IT in 2023, as companies sought to improve passenger experience, according to a new industry report. Global airports increased their IT spending by 23 percent year on year to almost $11 billion last year, while airlines upped spending by 15 percent to $34 billion, according to the 2023 Air […] March 4, 2024
Aviation PIF subsidiary to buy 120 Airbus helicopters The Helicopter Company (THC), a wholly-owned unit of the Public Investment Fund, has signed a framework agreement with European aviation giant Airbus to buy up to 120 helicopters. The helicopters of various types will be delivered over the next five to seven years. Part of the deal includes a firm order for eight H125s and […] February 29, 2024
Aviation Passengers pay for aviation’s sustainability shortcomings Penalties imposed on the aviation industry for failing to meet stringent sustainability targets will ultimately lead to higher air fares for passengers, according to an industry expert. “The customer is going to pay the extra cost,” said Wahab Teffaha, secretary general of the Arab Air Carriers’ Organization, speaking at the 11th annual Arab Aviation Summit […] February 29, 2024
Sustainability UK’s Solent Cluster courts Gulf for green investment The Solent Cluster, a network of 114 companies with interests on the English south coast, is considering working with Gulf companies to deliver $15 billion of green investment. The group is prioritising decarbonisation and among its proposals are a sustainable aviation fuel (SAF) plant for which Dubai’s national carrier Emirates and other airlines could become […] February 26, 2024
Transport UAE’s Sky One submits bid for Indian carrier Go First UAE-based aviation company Sky One is one of two companies that have submitted bids to acquire bankrupt Indian carrier Go First, according to a media report from India. “We have submitted the bid for Go First and look forward to the next stage, which is due diligence,” The Indian Express, a news outlet, reported, citing […] February 25, 2024
Aviation Flydubai profit up a record 75% as passenger growth surges UAE carrier Flydubai reported its highest-ever profit in 2023, which surged 75 percent year on year to AED2.1 billion ($572 million). The airline carried 13.8 million passengers, an increase of 31 percent year on year to a new record, surpassing its 11 million pre-pandemic figure. The GCC network reported a 56 percent year on year […] February 23, 2024
Aviation Mubadala weighs buying stake in Heathrow airport Abu Dhabi’s Mubadala Investment Company is studying the possibility of acquiring a stake in the UK’s busiest airport, Heathrow, according to a media report. The UAE sovereign wealth fund is weighing an investment after being approached by Paris-based buyout company Ardian, Bloomberg reported, citing people familiar with the matter. Discussions are ongoing and no agreements […] February 21, 2024
Aviation Emirates’ catering arm buys out Bustanica vertical farm Emirates Flight Catering, the airline’s catering arm, has bought out US-based Crop One’s interest in the Bustanica hydroponic farm in Dubai, making it a fully UAE-owned business. The farm opened in July 2022 as a joint venture between Emirates Flight Catering and Crop One called Emirates Crop One. The airline catering company says the 330,000 […] February 19, 2024
Transport DXB sets new target for 2024 as it flies past pre-pandemic levels Dubai International (DXB) expects to receive 88.8 million passengers this year, up 2.1 percent from 87 million received last year. The airport’s previous all-time high was 89.1 million passengers in 2018. DXB surpassed Dubai Airports’, the airport operator, yearly forecast and pre-pandemic traffic levels, in 2023. Passenger number increased 32 percent year on year last […] February 19, 2024
Aviation Flydubai expands in Europe with four new routes Dubai low-cost airline Flydubai has launched four new services to expand its European network to 43 destinations in 21 countries. The carrier will be the first UAE airline to operate direct flights to EuroAirport Basel-Mulhouse-Freiburg, starting August 2. Flydubai is also marking its first entry into the Baltic region with direct flights to Riga International Airport […] February 16, 2024
Opinion Aviation EgyptAir must make some tough choices The national carrier is being battered by the competition and needs a recovery strategy February 15, 2024