Tourism Turkey secures more funds for Antalya airport expansion An additional $463 million financing has been secured to help upgrade and expand Turkey’s second busiest airport, Antalya. Antalya served more than 35 million passengers in 2023 which went some way towards Turkey recording record tourism receipts. The first phase of development will include the expansion of Terminal 2 and the construction of new general […] April 3, 2024
Aviation Revenue up at Oman Air but pressure still on, say experts Oman Air has posted increased revenues for the past year but the sultanate’s flag carrier still faces difficult times ahead, aviation industry experts say. The heavily indebted airline launched a restructuring process last August in an attempt to balance the books within the next four years. Oman Air’s net losses in 2023 fell by 36 […] April 2, 2024
Tourism Red Sea airport prepares for first international visitors Saudi Arabia’s Red Sea International Airport will record its first international visitors this month when a flight from Dubai arrives on April 18. Red Sea Global, the developer behind regenerative tourism destinations The Red Sea and Amaala, said the flight, operated by Flydubai, marks the start of a new twice-weekly route. Regular domestic flights operated […] April 1, 2024
Opinion Transport Art, beaches, culture: Jeddah commute makes sense to me Riyadh may be where the action is but serenity is found in Saudi Arabia's port city March 29, 2024
Transport Dubai company to launch flying cars in Mena Aviation company Aviterra has signed a deal with Dutch company PAL-V to launch flying cars across the Middle East and Africa. Based in Dubai, Aviterra will buy 100 Liberty flying cars from PAL-V and invest in the flying car maker with the intention of making door-to-door mobility a reality in the region. “The PAL-V Liberty is the […] March 29, 2024
Aviation UAE and Qatar in race for Pakistan’s privatisation deals Investors from the UAE, Qatar and Turkey have shown interest in Pakistan’s national airline and airports as the South Asian nation accelerates its privatisation programme. Other investors are from Germany, France, Netherlands, Malaysia and local groups, ARY News, a Pakistani news channel, reported. Defence and aviation minister Khawaja Muhammad Asif has discussed outsourcing airports and […] March 27, 2024
Aviation India’s Akasa Air to fly to Saudi Arabia and Kuwait Akasa Air, India’s newest low-cost airline, plans to start flights to Kuwait and Saudi Arabia by the end of October. “We have traffic rights for Kuwait, Riyadh and Jeddah, all of which we hope to launch by the end of the IATA summer season,” founder and CEO Vinay Dube told the state-run Press Trust of […] March 25, 2024
Transport Turkish operator to invest in Saudi airport expansion Turkish airport operator TAV Airports will invest $71.5 million as part of the $275 million expansion plan for Prince Mohammad bin Abdulaziz International Airport, better known as Madinah Airport, in Saudi Arabia, according to a media report. The new investment will increase Madinah Airport’s passenger handling capacity to 18 million annually from the existing eight million […] March 25, 2024
Aviation Dubai Aerospace secures $420m from Chinese lenders Aircraft lessor Dubai Aerospace Enterprise (DAE) has signed a $420 million five-year unsecured term loan with Chinese entities to support its business expansion. The DIFC branch of China Construction Bank and China Construction Bank (Asia) Corporation offered the loan facility. “This term loan will serve to further strengthen our already exceptional liquidity, which stood at […] March 21, 2024
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