Search Site

Trends banner

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Boeing says MENA will need 3,000 new aircraft in 20 years

Boeing expects the region’s fleet size to double by 2040 - up to 3,530 jets.
  • The value of the Middle East’s commercial jet market including services over the next 20 years will be around $1.4 trillion
  • The region’s single-aisle fleet of 660 is forecast to nearly triple to 1,750 jets over the next 20 years

The MENA region will need some 3,000 new aircraft worth $700 billion in the next 20 years to cater to the demand for air travel. The conclusion was drawn by Boeing in its Commercial Outlook for 2021.

The value of the Middle East’s commercial jet market including services over the next 20 years will be around $1.4 trillion, with new aircraft valued at $700 billion and aftermarket services worth $740 billion during that time.

Boeing expects the region’s fleet size to double by 2040 – up to 3,530 jets – with wide body deliveries expected to be the highest proportion of any region at 44 percent, reaching 1,570 deliveries.

The region’s single-aisle fleet of 660 is forecast to nearly triple to 1,750 jets over the next 20 years.

More than two-thirds of plane deliveries to the Middle East will accommodate growth, while one-third of deliveries will replace older aircraft with more fuel-efficient models such as the 737 MAX, 787 Dreamliner and 777X, Boeing said.

The company said the approach of Middle Eastern airlines to the COVID-19 pandemic had helped passengers regain trust in flying, through cabin and airport sanitization and working with the International Air Transport Association (IATA) on its travel pass.

“The Middle East region’s role as a global connecting hub continues to be important for developing markets to and from Southeast Asia, China and Africa,” said Randy Heisey, Boeing managing director of Commercial Marketing for the Middle East.

“The region has been a leader in restoring confident passenger travel through multi-faceted initiatives that aid international travel recovery.”

The airline said the number of flights to and from the region had reached 69 percent of pre-pandemic levels, compared with a global average of 72 percent.