Opinion Aviation Flynas saves the best for last at Farnborough Airshow This year the headline-grabbing deals arrived later than expected July 26, 2024
Transport Dubai Taxi to pay $43m dividend despite profit drop Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […] July 26, 2024
Aviation Flynas expands Airbus fleet to reach new markets Saudi low-cost carrier Flynas will expand its fleet with the order of 75 A320neo and 15 A330-900 jets, as the airline looks to expand its capacity and range into new markets. The new aircraft will join the carrier’s all-Airbus fleet and serve international, domestic and regional routes. It can accommodate up to 400 passengers. “The A320neo […] July 26, 2024
Analysis Aviation Dubai and Jeddah dominate airport construction in Mena Just two giant projects, in Dubai and Jeddah, account for almost 80 percent of current spending on airport development in the Middle East and North Africa, a report has revealed. Some 19 different projects, ranging from expansions to additional runways and entire new airports, are under way in 11 countries across the region, according to […] July 25, 2024
Aviation Tunisair growth slows as costs rise Tunisair’s revenue increased by only 3 percent year on year to TND695 million ($224 million) in the first half of 2024, as fuel costs rose and its market share shrank. Passenger numbers went up by 2 percent to 1.17 million, compared to 1.15 million a year ago, the state-run Tunis Afrique Presse reported. Average revenue […] July 25, 2024
Employment Aviation workforce in Morocco to double by 2030 Morocco has announced plans to provide employment for young people by doubling the number of people employed in the country’s aviation sector by 2030. The aerospace industry in Morocco currently includes some 142 companies, employing a workforce of 17,000, and has an annual turnover in the region of $2 billion in exports. Ryad Mezzour, the […] July 24, 2024
Aviation Libya’s Berniq buys Airbus jets to expand reach Libya’s Berniq Airways has placed an order with Airbus for six A320neo aircraft to upgrade its fleet and increase its number of routes both regionally and internationally. The airline currently operates six A320s. Waseem Ezzway, chairman of Berniq Airways, said that the investment marks a new chapter for the airline as it continues to modernise […] July 24, 2024
Aviation Qatar Airways expands Boeing 777 order book Qatar Airways ordered 20 new Boeing 777-9 passenger jets at the Farnborough International Airshow this week after announcing record profits in its 27-year history. Additionally, the carrier has committed to 40 new GE9X engines and spare engines, in addition to a long-term services agreement. The total cost of the deal and delivery schedule of the […] July 24, 2024
Video length: 08:13 Analysis Logistics Logistics giants compete for space in Saudi Arabia Global logistics companies are flocking to Saudi Arabia as the country’s socio-economic transformation drives demand for industrial and ecommerce buildings. Last week DB Schenker, the logistics subsidiary of Germany’s rail operator Deutsche Bahn, signed a deal with Riyadh-based developer Kaden to construct warehouses in the kingdom. At the end of May construction work started on […] July 24, 2024
Transport Adnoc L&S unit awards $2bn contract to Chinese shipyard AW Shipping, a joint venture between Adnoc Logistics & Services and China’s Wanhua Chemical Group, has awarded a $1.9 billion contract to Chinese shipyard Jiangnan to construct “green and low-carbon” ammonia and ethane carriers. The contract for nine very large ethane carriers (VLECs) is priced at $1.4 billion, the Adnoc subsidiary, which trades on the […] July 23, 2024
Aviation Price talks rumble on between Turkish Airlines and Boeing Turkish Airlines will not announce a deal with Boeing at the Farnborough Airshow this week as negotiations over the engine price continue, chairman Ahmet Bolat has said. “We are not going to announce anything in Farnborough,” he said, adding talks were being held with engine supplier GE on Monday. “I think we are close, but the […] July 23, 2024
Logistics Ports merged to form logistics centre in Turkey DP World, a global port operator, and Istanbul-headquartered Evyap Group have merged two ports on the Marmara Sea to create a new logistics centre in Turkey. The merger followed regulatory approval from the Turkish Competition Authority, the UAE state-run Wam news agency reported. No financial details were released. Evyapport, located in the port of Izmit on […] July 22, 2024
Transport Bahri withdraws bid for Danish logistics company Saudi shipping giant Bahri has withdrawn from the race to acquire Deutsche Bahn’s logistics unit Schenke, according to a news report. The CVC-led consortium, including Abu Dhabi Investment Authority (ADIA) and GIC, and DSV, a Danish logistics group, are the only two contenders left, Reuters reported, citing unnamed sources. Bahri’s offer was the highest at […] July 21, 2024
Aviation Mubadala-backed Sanad Group reports 53% revenue growth Sanad Group, the Abu Dhabi-based global aerospace engineering and leasing company, has seen revenues increase by more than half over the first six months of the year. Figures released to AGBI show revenue totalling AED2.3 billion ($620 million) was reported in the first half of the year, up from AED1.5 billion over the same period […] July 19, 2024
Transport UAE company in joint venture to build Baghdad metro A Malaysian engineering company and its UAE affiliate have jointly won a $316 million contract to oversee the construction of the new Baghdad metro. The building of the planned 148-kilometre network and its 64 stations across the Iraqi capital was slated to begin this month and end in 2029. This timeline might be delayed, however, […] July 19, 2024
Aviation Saudia to buy 50 air taxis from Germany’s Lilium Saudi national carrier Saudia has agreed to buy at least 50 pilotless electric flying vehicles from Germany’s Lilium in the region’s biggest “air taxi” deal so far. The deal for what the industry calls electric vertical take-off and landing (eVTOL) aircraft is Saudia’s second major order this year. In May Saudia ordered 105 Airbus aircraft, […] July 18, 2024
Transport Autonomous vehicles pass test in UAE Self-driving vehicles are to be rolled out across the UAE following successful trials in Dubai South. Evocargo, which is headquartered in Dubai, ran the tests and is confident that autonomous vehicles will be available within Dubai South in the first quarter of next year. The company then plans to expand into neighbouring Ras Al Khaimah […] July 18, 2024
Aviation Airbus trims order book outlook for the Middle East Airbus has reduced its forecast for demand for wide-body aircraft in the Middle East over the next 20 years. The European jet maker increased its global forecast for wide-body demand by 9 percent to 8,920 units. However, it cut its prediction for the Middle East by 2 percent to 1,570 aircraft. Despite rising demand globally, […] July 17, 2024
Aviation Iraq given boost in plan to lift European flight ban Iraq has moved a step closer to returning its flag carrier to European skies after receiving the support of the International Air Transport Association (IATA). Iraqi Airways was originally banned from Europe in 1991 due to safety concerns. Restrictions were briefly lifted in 2009 but enforced again in 2015 as the airline failed to meet […] July 17, 2024
Analysis Aviation Damascus resumes Saudi flights but sanctions stifle trade Syria has resumed weekly flights from Damascus to Saudi Arabia as commercial relations warm up further after diplomatic ties were restored last year. But Syrian integration into regional economies is still moving slowly, because of US sanctions. Syrianair began the once-weekly flights to Riyadh on July 10, adding its list of Gulf destinations including Dubai, […] July 17, 2024
Tourism Near-space balloon flights to start from Abu Dhabi next year European space exploration company Eos-X Space will begin operating balloon flights to the edge of space from Abu Dhabi in the third quarter of 2025, as it aims to gain a bigger stake in the $9 billion space tourism industry. The UAE capital will host the launch facility and spaceport, including a hotel complex on […] July 17, 2024
Aviation Iraq signs deals to advance new civil airport project Iraq has signed two contracts for the construction of Nasiriyah International Airport in Southern Iraq. The Iraqi transport ministry this week signed an addendum to the construction contract with China State Construction Engineering Corporation (CSCEC) and the consulting contract with Turkey’s Kiklop Design Hertz Insaat, the state-run Iraqi News Agency reported. The Turkish company will […] July 17, 2024
