Aviation Iata urges jetmakers to fix aircraft delivery delays The head of a group representing global airlines renewed pressure on planemakers to speed up plane and parts production on Sunday, warning the delays would curtail airline capacity as demand for air travel nears a full recovery from the pandemic. Willie Walsh, director general of the International Air Transport Association (Iata), told Reuters the topic […] June 5, 2023
Aviation Qatar Airways may scrap first-class on long-haul flights Qatar Airways CEO Akbar Al Baker says the airline plans to avoid including first-class seats on its future next-generation long-haul Boeing 777X aircraft. The investment in the “most luxurious seats” does not justify the returns, as the airline’s business class offers much of the same perks, he added. “Why should you invest in a subclass […] June 4, 2023
Aviation Global airline summit to tackle climate goals Airlines will ride the crest of a faster-than-expected recovery and discuss ways of translating climate pledges into action at a summit buoyed by a return to business as usual later this week. The influential International Air Transport Association (Iata) holds its annual meeting on June 4-6 with many of its 300 carriers enjoying higher fares […] June 4, 2023
Transport Shares in Saudi-backed EV maker Lucid tumble Shares in electric car manufacturer Lucid Group tumbled in pre-market trading on Thursday after Saudi Arabia-backed, loss-making company said it would issue further stock to bolster its ailing finances. Saudi Arabia has bet big on Lucid as part of its economic diversification programme, with plans afoot to build a manufacturing plant in the kingdom. Yet […] June 1, 2023
Logistics Adnoc Logistics & Services shares surge on debut Shares in Adnoc Logistics & Services rose 44.8 percent above their listing price on Thursday as the company made its debut on the Abu Dhabi Securities Exchange (ADX). The initial public offering (IPO) for 19 percent of the business drew the highest demand globally for any listing so far in 2023, raising $769 million. Shares […] June 1, 2023
Transport Tunisia offers cash bonus to switch to electric vehicles Motorists in Tunisia are being offered bonuses of TD10,000 ($3,200) per car to make the switch to electric vehicles as the government looks to accelerate its sustainability efforts. A survey carried out by Tunisia’s Environment Ministry said that reaching 50,000 electric vehicles (EVs) by 2025 and 130,000 by 2030 will save 2.2 million tonnes of […] June 1, 2023
Aviation Global airlines set to tackle non-CO2 emissions Global airlines are setting up a task force to deal with non-carbon dioxide (CO2) emissions, stepping up efforts to tackle cloudy streaks formed by aircraft known as contrails, an environmental threat that until now has taken a backseat to carbon pollution in the response to global warming. The move comes as the International Air Transport […] June 1, 2023
Aviation US electric aircraft developer lands in Abu Dhabi A hybrid-electric vertical take-off and landing aircraft developer from California is planning to set up a regional HQ in Abu Dhabi as trade deals between the Emirates and the US focus on advanced technologies. Odys Aviation has joined the UAE Ministry of Economy’s NextGen foreign direct investment programme, which aims to attract digitally enabled businesses […] May 31, 2023
Transport Dubai considers taxi operator IPO as sector surges Dubai is considering a stock market listing for its taxi operator, as the sector surges back to pre-pandemic levels and attracts local and international investment. The emirate’s Roads and Transport Authority (RTA) is in the early stages of considering listing the Dubai Taxi Corporation (DTC) as the latest state-backed entity to list on the Dubai […] May 31, 2023
Aviation Boeing looks at selling 150 jets to Riyadh Air Boeing Co is looking at striking a deal to sell about 150 737 Max jetliners to Saudi Arabia’s Riyadh Air. The new carrier, wholly owned by the kingdom’s Public Investment Fund, is looking for about 300 to 400 single-aisle jets in total, Bloomberg News reported, citing informed sources. European plane manufacturer Airbus may also claim […] May 29, 2023
Aviation Emirates’ Penelope Cruz signing targets Spain and Latin America Emirates is planning to spread its wings further across Spanish-speaking destinations with the help of actress Penelope Cruz. The Academy Award-winning star has been announced as the latest brand ambassador for Emirates. She will feature in a series of advertising campaigns across the summer in English and her native Spanish. Emirates – which reported a […] May 26, 2023
Logistics Adnoc Logistics & Services IPO order book hits $125bn The order book for the initial public offering (IPO) of Adnoc Logistics & Services (Adnoc L&S) reached over $125 billion, hitting an oversubscription level of 163 times. This is the highest-ever oversubscription of a UAE bookbuild IPO, Abu Dhabi National Oil Company (Adnoc) said in a statement. The IPO was priced at the top of […] May 26, 2023
Opinion Aviation Airline alliances? Emirates forges its own flight path Bilateral agreements can be easier to manage and more tightly targeted May 25, 2023
Energy Billions needed to replace crude oil tanker fleet Hundreds of billions of dollars of investment is needed to replace ageing crude oil tankers and avert supply bottlenecks, according to the chairman of the Indian Oil Corporation. Shrikant Madhav Vaidya said this week that an estimated annual $640 billion investment is needed to maintain current supplies and meet projected growing demand. According to the […] May 25, 2023
Aviation Qatar Airways CEO calls for realism over net-zero targets The CEO of Qatar Airways has said the lack of readily available aviation fuel alternatives will throw the industry’s goals of achieving net-zero emissions by 2050 into doubt. Akbar Al Baker is a long-standing critic of suppliers of sustainable aviation fuel (SAF), labelling it “exorbitantly expensive” and claiming it’s only available in low volumes “because […] May 24, 2023
Logistics DP World completes $260m Vancouver port expansion Dubai-headquartered DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput by 60 percent at the Port of Vancouver. The newly expanded terminal will handle 1.5 million twenty-foot equivalent units (TEUs) a year, compared to 900,000 TEUs previously, while adding 15 percent to the terminal’s overall footprint. “This expansion is […] May 24, 2023
Logistics Boeing CEO predicts supply chain pressure until 2024 Boeing CEO Dave Calhoun said it could take until the end of 2024 to iron out sector-wide supply chain problems that have hampered global jetliner production. “Priority one for the two airplane manufacturers is stability,” Calhoun told the Qatar Economic Forum, referring to Boeing and its main European rival Airbus. “We have to resolve the […] May 24, 2023
Logistics UAE-Iraq trade lifted by new freight ferry link DP World has launched the first direct freight ferry service between the UAE and Iraq. The service, called P&O Maritime Transports – a DP World company, aims to make the flow of goods between the UAE and Iraq faster, safer and more efficient. It caters for unaccompanied trailers that can be transported by sea without […] May 23, 2023
Aviation Ryanair cautiously optimistic of profit in next 12 months Ryanair on Monday posted a near record profit of €1.43 billion ($1.57 billion) in the year to end-March and said it was cautiously optimistic that profits would rise modestly in the next 12 months, with summer demand notably robust. The Irish airline, Europe’s largest by passenger numbers, expects summer European short-haul capacity to remain below […] May 22, 2023
Logistics Indian logistics startup Porter launches in Dubai Porter, India’s on-demand logistics company, has ventured into the UAE to offer intra-city logistics services in Dubai. The expansion is part of the current plan to explore the GCC region and the Indian subcontinent. The logistics startup is backed by venture capital investors including Tiger Global, Sequoia and Lightrock India and earlier raised $100 million […] May 21, 2023
Opinion Aviation The future of aviation – classless, but premium classy Forget first and even business class – there is a luxury solution that fits all tastes May 19, 2023
Logistics New $2bn port to serve Saudi’s Neom More than SAR7.5 billion ($2 billion) has so far been invested in a new port at Saudi Arabia’s planned $500 billion smart city Neom, with plans to open a new terminal in 2025. Located on the Red Sea at the crossroads of global trading routes, the port will be a critical enabler for Neom and […] May 18, 2023
