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
Aviation Oman Air 2023 losses down 25% on higher ticket sales State-owned Oman Air cut its losses by a quarter in 2023 as it streamlined expenditure and improved ticket sales, chairman Said Hamoud Al Ma’awali said. The airline is expected to see “good growth” in its financial performance by 2026 under its four-year transformation plan, state-run Oman News Agency reported, citing the top executive. No other […] February 15, 2024
Exclusive Aviation Etihad outsources flights as airlines grapple with jet shortage Etihad Airways has engaged charter airlines to operate its flights on at least two key routes, as it accelerates the expansion of its network. Spanish carrier Wamos Air is operating two wide-bodied Airbus A330 jets under Etihad flight numbers on the Abu Dhabi-Jakarta route, while Hi Fly Malta is deploying an Etihad-numbered A330 on daily […] February 15, 2024
Aviation Air Arabia remains upbeat despite profit drop in Q4 Air Arabia remains optimistic about the future of low-cost air travel despite reporting a drop in profit in the last quarter of 2023. Based in Sharjah, the no-frills airline reported a net profit of AED225 million ($61 million) in the fourth quarter of 2023, down 37 percent year on year in the last three months […] February 14, 2024
EXCLUSIVE Aviation Etihad predicts ‘remarkable’ year after profitable 2023 Etihad Airways has told staff that it made a profit last year, helped by “milestone” revenues of $5.5 billion, and is expecting a “remarkable” performance in 2024, AGBI has learned. In an internal memo sent on January 25, which followed a presentation by chief executive Antonoaldo Neves, the company predicted that revenues would reach $6.5 […] February 13, 2024
Opinion Aviation Africa, the next frontier for Gulf airlines The Middle East is the natural gateway between Africa and Asia February 12, 2024
Transport Dubai to have flying taxi services by early 2025 New York Stock Exchange-listed Joby Aviation plans to soft launch air taxi services in Dubai by early 2025. The vertical take-off and landing (VTOL) aircraft maker signed an agreement with Dubai’s Road and Transport Authority (RTA), which gives it the exclusive right to operate air taxis in the emirate for six years The operation of […] February 12, 2024
Business of Sport Emirates airline signs big US basketball sponsorship deal Emirates, the Dubai airline, has signed a sponsorship deal with the National Basketball Association in the United States that will see the NBA’s in-season tournament renamed the Emirates NBA Cup. Emirates will become the association’s official airline partner and referees’ kits will feature the airline’s logo. The airline’s patch will also be featured on the […] February 8, 2024
Transport Dubai Aerospace turns profit after Aeroflot settlement The aircraft leasing company Dubai Aerospace Enterprise (DAE) turned profitable in 2023, as it received a settlement of $118.3 million for seven aircraft leased to Russia’s Aeroflot airline. The company reported a net profit of $350.6 million for 2023, a turnaround from a loss of $279.3 million a year ago. Revenue rose 16 percent to […] February 8, 2024
Infrastructure Investcorp seeks more global airport and seaport stakes Bahrain’s Investcorp Holdings is looking at investment opportunities in airports and seaports across the world as it seeks to double the infrastructure assets in its portfolio to $10 billion by the end of the decade. Investcorp, the region’s biggest alternative investment firm, completed a 50 percent acquisition of the New York-based Corsair Capital’s infrastructure business, […] February 6, 2024
Aviation UAE’s Ghitha invests $220m in Turkish cargo airline Ghitha Holding, a subsidiary of Abu Dhabi conglomerate International Holding Company (IHC), has announced an investment of more than $220 million in Turkish cargo airline MNG. The company said it has entered into a share purchase agreement to buy a 44 percent stake in MNG Havayollari ve Tasimacilik. The deal was made through its wholly […] February 6, 2024
Tech Saudi startup’s infrared tech has ‘game-changing’ potential A Saudi Arabian startup’s pioneering research will slash the cost of infrared sensors, enabling them to be used in a myriad of day-to-day applications and accelerating the development of fully autonomous vehicles, its founder told AGBI. Osman Bakr, founder and chairman of Quantum Solutions, is also head of the functional nanomaterials laboratory at Kaust (King […] February 4, 2024
Analysis Aviation Flying taxis ‘within a decade’ says Saudi Arabia Saudi Arabia has published a plan to launch advanced air transport, such as flying taxis, within the next 10 years. However, experts have played down the kingdom’s impact on the fledgling industry globally. The kingdom’s General Authority of Civil Aviation (Gaca) said it wanted to revolutionise the aviation sector by supporting technologies such as unmanned […] January 31, 2024
Aviation Kuwait airport passenger traffic rises 26% to 15.6m Total passenger movement at Kuwait International Airport rose 26 percent year on year to 15.6 million in 2023. Arrivals reached 7.93 million passengers, while departures accounted for 7.68 million, the state-run Kuna news agency reported, citing Imad Al-Jalawi, acting director general of Civil Aviation Aircraft traffic increased 23 percent to 128,584 last year, from 104,147 […] January 30, 2024
