Aviation Virgin Atlantic confirms partnership with Riyadh Air Virgin Atlantic has signed a partnership with Riyadh Air, which will start when the new Saudi national carrier launches next year. Riyadh Air has been expected to announce cooperation agreements with other operators. A statement said the partnership would open new destinations in Saudi Arabia and beyond, and would include Virgin’s London-Riyadh route, but gave […] September 5, 2024
Opinion Logistics Houthi attacks are an ecological disaster waiting to happen More must be done to enable faster recovery of damaged vessels in the Red Sea September 4, 2024
Analysis Aviation Qatar Airways’ expansion ‘on a different path from Etihad’ Qatar Airways is reportedly keen to buy more stakes in legacy airlines – a strategy that sounds familiar to anyone who knows the history of Etihad but is likely to have a different outcome, according to aviation experts. Almost a decade ago Abu Dhabi’s flag carrier was running into serious problems with its aggressive expansion […] September 3, 2024
Infrastructure Egypt awards $885m contract to upgrade Cairo metro A consortium led by Orascom Construction, listed on Dubai, Egypt and Nasdaq stock exchanges, will commence the modernisation of the Cairo metro line 1 next month. The €800 million ($885 million) project will be completed in 64 months without disturbing commercial operations. The consortium has signed a contract with Egypt’s National Authority for Tunnels to […] September 3, 2024
Logistics Jeddah port gets London Metal Exchange approval for storage The London Metal Exchange has added Saudi Arabia’s Jeddah Islamic Port to its list of locations for the storage of copper and zinc, though no warehouse has been approved yet. “The listing of Jeddah will become active as a delivery point three months after the approval of the first warehouse company in that location,” a […] September 2, 2024
Opinion Infrastructure Rail link to UAE will supercharge Oman’s port city of Sohar Businesses in the sultanate's northern city will get direct access to the UAE’s global connections August 30, 2024
Infrastructure Ministers meet in Istanbul for Development Road talks Transportation ministers from Turkey, the UAE, Iraq and Qatar met in Istanbul on Thursday to advance talks on the proposed Development Road project, which aims to establish uninterrupted transportation from Grand Faw Port in Iraq to London. The project is expected to save 15 days in transportation of goods to Europe through Turkey and Iraq, […] August 30, 2024
Transport Dubai Aerospace Enterprise buys 23 aircraft for $1.1bn Dubai Aerospace Enterprise Limited, a global aviation services company, has acquired 23 aircraft from multiple companies for $1.1 billion. The company’s aircraft portfolio will have an average age of 3.4 years and an average lease term remaining of 8.8 years on completion of the deal by year-end. These jets are on lease to 13 airlines […] August 28, 2024
Transport Saudia’s new expansion plan to drive global growth Saudi Arabian Airlines (Saudia) intends to increase its fleet from 188 to 300 aircraft by the end of 2032, director general Ibrahim Al-Omar told Socrates, an Arabic language podcast. Saudia ordered 105 aircraft from Airbus in May, with the first batch due for delivery in early 2026. Additionally, the Saudi flag carrier plans to double […] August 28, 2024
Finance Salik values two new Dubai toll gates at $735m Dubai toll operator Salik has valued its two new toll gates at AED2.7 billion ($735 million), as it aims to turnaround its drop in profit during the second quarter of this year. The Business Bay gate is valued at AED2.3 billion while the Al Safa South Gate is estimated at AED469 million. The new gates, […] August 28, 2024
Opinion Aviation Emirates’ first Asian store is a sign of its wider ambition Airlines have been veering away from bricks-and-mortar but Emirates has bucked the trend August 26, 2024
Opinion Transport With or without the human touch, DXB is a global leader 'Contactless' is the way to go and Dubai International knows how it's done August 23, 2024
Infrastructure Riyadh metro to open this year, Saudi minister says Riyadh’s delayed metro system will officially open later this year, the Saudi minister of transport said this week, as the kingdom’s rapidly expanding capital wrestles with crippling traffic congestion. “The Royal Commission for Riyadh has said it will open this year,” Saleh Al-Jasser, the transport minister, said in an interview with Saudi-owned Al Arabiya TV. […] August 22, 2024
Logistics Maersk opens logistics park in Jeddah Danish shipping major Maersk has opened its largest logistics park in the Middle East, aiming to bolster Saudi Arabia’s rapidly growing logistics sector. The $250 million facility in Jeddah Islamic Port is Maersk’s most expansive single-site logistics and services centre in the region. Spanning 225,000 sq m, the Maersk Logistics Park offers warehousing facilities and […] August 22, 2024
Aviation Emirates buys five A380 jets from London-listed lessor Dubai’s Emirates will buy five A380 jumbo jets leased from London Stock Exchange-listed Doric Nimrod Air Two Limited for $200 million. The leases on the five jumbo jets are expected to end between October 1 and November 30, 2024. Emirates will pay $40 million per jet under the new deal. NewsletterGet the Best of AGBI delivered […] August 22, 2024
Aviation UK companies win contracts for new Riyadh airport British and American companies are among those who have won contracts for developing the massive King Salman International Airport in Riyadh. Foster + Partners, a British architecture company, will design the airport’s master plan, which covers a total area of 57 sq km, the state-owned Saudi Press Agency reported, citing the Public Investment Fund-owned King […] August 21, 2024
Aviation UAE airports post 14% rise in passenger traffic The UAE’s airports handled nearly 72 million passengers in the first half of 2024, a 14 percent increase from 63 million a year ago. The breakdown includes 20 million arrivals, 21 million departures, and 30 million transit passengers, the UAE state-run Wam news agency reported The General Civil Aviation Authority director-general Saif Mohammed Al Suwaidi […] August 21, 2024
Aviation Slice of South Africa’s Airlink bought by Qatar Airways Qatar Airways has acquired a 25 percent stake in the Southern African independent carrier Airlink, expanding its operations further into Africa. The privately-owned, Johannesburg-based Airlink already has a code-sharing partnership with the Doha airline and flies to 45 destinations in 15 African countries. Financial details of the deal were not revealed. NewsletterGet the Best of […] August 20, 2024
Logistics Saudi shipping company signs $1bn tankers deal National Shipping Company of Saudi Arabia (Bahri) has announced a SAR3.75 billion ($1 billion) deal to buy nine tankers from Greek company Capital Maritime and Trading Corporation. The very large crude carriers (VLCCs) will be used by Bahri to deliver crude cargoes for its customers. VLCCs are a crucial part of the global maritime logistics […] August 20, 2024
Transport Gaza conflict hits passenger volume at Jordan’s airport The number of passengers at Queen Alia International Airport in Jordan fell 5 percent year on year to 5.1 million in the first seven months of this year, as a result of the ongoing Gaza conflict. Aircraft movement declined by 5 percent, while cargo volumes dropped 35 percent between January and July, Airport International Group, […] August 20, 2024
Opinion Aviation To churn or not to churn: why airlines drop routes The disappearance of 459 routes shows the challenges faced by Middle East airlines August 20, 2024
Logistics PIF plans new cargo airline to take on UAE and Qatar Saudi Arabia’s Public Investment Fund (PIF) is planning to launch a new cargo airline to compete with the logistics dominance of the UAE and Qatar, a news report said. The sovereign wealth fund is in early discussions with Boeing and Airbus about purchasing or leasing freighters, Bloomberg reported, citing informed sources. The proposed new cargo […] August 20, 2024
