All Middle East news – Page 23
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NewsIATA forecasts global airline industry will return to profit in 2023
The global airline industry is forecast to achieve a net profit of $4.7 billion in 2023 as the recovery from the Covid-19 crisis continues, according to IATA. That would mark the industry’s first positive result since the pandemic hit in 2020, with airlines on course for a loss of $6.9 ...
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NewsGlobal Knafaim to raise equity for Tus Airways loan repayment
Israel’s Global Knafaim Leasing is injecting additional capital into Cypriot carrier Tus Airways, via a share issue, the lessor reveals in its third-quarter financial statement. It says that the board approved the extra investment of $2 million on 30 November. Investment partner Kenneth Woolley has similarly contributed in order to ...
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NewsALAFCO seeks shareholder approval for $2.2bn Macquarie acquisition
Kuwaiti lessor ALAFCO is to convene a shareholder meeting to approve a substantial acquisition by asset management firm Macquarie AirFinance. ALAFCO states that its board discussed and reviewed, on 29 November, a proposal for the acquisition – valued at $2.215 billion – which includes sale of 53 aircraft from its ...
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NewsIsrair details updated bid for Smartwings
Israeli carrier Israir has detailed its binding offer for Czech operator Smartwings, but has yet to discover whether it will be successful. Israir says the transaction, if accepted, would be valued at €44 million which includes €8 million for the entire share capital of Smartwings. Another €12 million would be ...
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NewsNew Riyadh King Salman airport to absorb current King Khalid hub
Riyahd’s King Khalid international airport is to be absorbed into a larger complex which will be named after Saudi Arabia’s current ruler, King Salman. The airport will be expanded to accommodate up to 120 million annual passengers by 2030, according to a masterplan released by the sovereign Public Investment Fund, ...
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NewsEl Al to bring in freighter next year and signals plans to renew narrowbodies
Israeli flag-carrier El Al is pressing ahead with plans to introduce a dedicated freighter, indicating that the aircraft will arrive in the second quarter of next year. It has not identified the type but indicates that it will be a narrowbody aircraft in its latest fleet plan, outlined in the ...
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NewsEl Al turns in third-quarter profit as revenues near pre-crisis level
Israeli flag-carrier El Al has turned in further evidence of a recovery trend in its operations, with a third-quarter pre-tax profit of $68 million. It states that the business is benefiting not only from the summer season but also the lifting of travel restrictions and compulsory masking, and the cancellation ...
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NewsSaudia’s Flyadeal broadens AviLease portfolio with A320neo agreement
Middle Eastern operator Saudia Group has become the latest to agree a fleet lease from new Riyadh-based lessor AviLease. Saudia Group has entered a sale-and-lease transaction covering 20 Airbus A320neos. The twinjets will be operated by the group’s budget arm Flyadeal. Saudia Group director general Ibrahim Al-Omar says the agreement ...
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AnalysisHow Leonardo’s M-346 helped Italy to become a training Master
A little over a decade since the first customer example of Leonardo’s M-346 advanced jet trainer was handed over, the type is now in service with six nations, and supporting the instruction of new pilots for multiple other air forces.
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Airline BusinessAirline Business Covid-19 recovery tracker: November 2022 update
Our regular examination of the latest global data for several key airline market indicators, including traffic and capacity in passenger and cargo markets, in-service and stored fleets, jet fuel costs, and share price trends for the world’s largest groups.
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NewsNew Saudi lessor AviLease carries out first deliveries
New Saudi Arabian lessor AviLease has carried out its first deliveries, with the handover of two Airbus A320neos to local operator Flynas. AviLease was established in June as an aviation finance and leasing company, wholly-owned by the kingdom’s sovereign Public Investment Fund and specialising in new-generation aircraft. The company, which ...
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NewsAirbus and Qatar joust over regulatory cosiness as trial schedule is left in doubt
Airbus has expressed doubt that a trial to resolve its legal scrap with Qatar Airways over A350 fuselage-skin paint degradation will take place on time in June next year, accusing the airline of shortcomings in the disclosure process. The two sides clashed in court on 11 November during a case-management ...
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NewsWestJet lands slots to launch Calgary-Dubai flights in March 2023
Canadian airline WestJet looks poised to launch flights between Calgary and Dubai beginning in March 2023, after securing required landing slots at Dubai International airport.
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NewsQatar Airways chief defiant as airport expansion opens on eve of World Cup
Qatar Airways chief executive Akbar Al Baker was in a defiant mood as he helped to officially open an expansion of Doha’s Hamad International airport on the eve of the FIFA World Cup in the country.
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Airline BusinessChina’s ‘dismal’ performance weighs on global airline traffic recovery
The latest data from IATA shows how far China is lagging the recovery being seen in other markets around the world, as government policy continues to limit international and domestic travel.
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NewsAir Arabia reports Q3 revenue ahead of 2019 level as Fly Jinnah begins operations
Air Arabia Group’s third-quarter revenue of Dhs1.61 billion ($436 million) was 12% up on the same period of 2019, as the low-cost group benefited from the recovery in air travel demand. It outlined its July-September earnings on 9 November, days after its latest joint-venture operation, Pakistani carrier Fly Jinnah, commenced ...
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NewsEmirates expects return to full-year profit after strong first half
Emirates Group had returned 73 Airbus A380s to service, along with its entire Boeing 777 fleet, by the end of the first half – a period in which it generated a net profit of Dhs4.2 billion ($1.1 billion). The financial performance contrasts with the Dhs5.7 billion net loss from the ...
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NewsBahraini AH-1Z makes show debut, as deliveries gather pace
One of Bahrain’s newly delivered Bell AH-1Z attack helicopters broke cover on the opening day of the Bahrain International Airshow, with the “Zulu” appearing in the static display.
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NewsEmirates and Gulf Air firm codeshare plan
Middle Eastern carriers Emirates and Gulf Air are set to launch their codeshare next month after formalising the agreement during the Bahrain air show today.
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NewsRoyal Jordanian signs Pratt & Whitney deal for A320neo, E-Jet fleets
Royal Jordanian and Pratt & Whitney have signed propulsion contracts to equip the carrier’s future Airbus A320neo-family and Embraer E-Jet E2 aircraft with geared turbofan engines.