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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.

GCC airlines fly into losses amidst Covid-19

Aviation has been one of the worst hit industries amidst the COVID-19 crisis
By TRENDS Desk
October 3, 2021 6:42 pm
  • The pandemic has forced airlines to lay off staff and seek government bailouts
  • 2020 was the worst year on record for the struggling sector

Aviation has been one of the industries worst hit by the COVID-19 crisis, forcing airlines to lay off staff and seek government bailouts.

With $126bn in losses, airline industry recently confirmed that 2020 was the worst year on record for the struggling sector.

Abu Dhabi government-owned Etihad, which posted a core operating loss of $800 million in 2019, has also slashed jobs and salaries.

Regionally, Etihad, which grounded most of its fleet between March and June, posted a core operating loss of $1.7 billion for 2020.

Qatar Airways Group recently reported a doubling of annual losses to 14.9 billion riyal ($4.1 billion), hit by the COVID-19 collapse in long-haul travel and aircraft impairment charges.

 

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