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Aviation

Honda shares soar 16%

The surge came after the auto giant announced a $7bn buyback.

Mubadala acquires stakes from GHH

It acquired an 80 percent stake in Global Medical Supply Chain.

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Boeing wins $8 bn contract

The US planemaker will manufacture 66 MAX aircraft.
  • The deal comprises a firm order for 30 medium-haul single-aisle 737 MAX-8-200s plus options to purchase up to 36 more from the same family.
  • The MAX jet suffered two deadly crashes in 2018 and 2019, but is experiencing a rush of interest at this year's Farnborough, southwest of London.

Farnborough show raises Boeing hopes

Boeing plans to show off several planes including the MAX 10.
  • The MAX 10 offers Boeing the opportunity to show off the latest version of the aircraft and seek to recover from the deadly and costly crashes of an earlier model.
  • The crashes in October 2018 and March 2019 led to the aircraft being grounded for 20 months. Airlines cancelled hundreds of orders and demanded compensation.

Lufthansa expects best quarter results

The airline expects to book an operating profit of "between $352m and $403m.
  • In May, Lufthansa said it was "on track" over the year, despite the personnel shortage and the rising price of fuel.
  • Lufthansa's revenues in the second quarter had "more than doubled" to 8.5 billion euros in the space of 12 months.

Middle East airlines’ traffic rises more than 300 percent in May 2022: IATA

The International Air Transport Association (IATA) said the Middle Eastern airlines’ traffic rose 317.2 percent in May compared to May...
  • IATA announced passenger data for May 2022 showing that the May capacity rose 115.7 percent.
  • Global traffic is now at 68.7 percent of pre-crisis levels as it rose 325.8 percent versus May 2021.

Summer break, Eid push up Saudi air ticket prices

The kingdom, which has 15 domestic airports, is witnessing a significant increase in the prices of domestic flights, ranging between...
  • Saudi Arabia's domestic airports are witnessing active travel due to the summer break and Eid al-Adha
  • There has been an increase in the prices of domestic flights tickets, ranging between 32% to 314%

Turkish Airlines flights at pre-pandemic conditions

Turkish Airlines has announced that flights to Saudi Arabia have resumed to pre-pandemic conditions and Saudi citizens will now be...
  • Turkish Airlines announces that flights to Saudi Arabia have resumed to pre-pandemic levels
  • The airlines said that from June 20, 2022 the restrictions set by Türkiye due to COVID-19 has been lifted

Etihad Air expected to fly 2.7m passengers over summer months: CEO

Etihad Airways and Abu Dhabi International Airport are preparing to welcome 2.7 million network passengers over the summer months, following...
  • Over 1.4 million passengers will depart from Abu Dhabi International Airport, including 330,000 local joiners.
  • Guests would check in online, use the Verified to Fly service to submit any Covid-related documents for approval.

Oman Air to be a part of Oneworld alliance by 2024

Oman Air's joining will add new destinations to the Oneworld network including Duqm and Khasab in Oman and Chittagong (Bangladesh).
  • Oman Air's entry into Oneworld will provide more flights and destinations to customers planning global travel across the alliance's members.
  • It makes Oneworld the only global airline alliance with three members in the Middle East after Qatar Airways and Royal Jordanian.

Air traffic to reach full capacity by 2023 despite uncertainty

Air passengers are expected to hit 83 percent of pre-pandemic levels this year and the aviation industry's return to profit...
  • Industry losses are expected to drop to $9.7 billion in 2022, an improvement from $42.1 billion in 2021.
  • The aviation industry was sent reeling by the pandemic, with passengers down by 50 percent in 2021.

Staff shortages and strikes threaten pandemic recovery for airlines

Desperate to put the coronavirus pandemic behind them, airlines will hold talks on Sunday ahead of a potential summer of...
  • In the past few weeks, delays and cancellations caused by a lack of staff at airports and strikes for better pay have wreaked havoc upon travellers.
  • In terms of Revenue Passenger Kilometres (RPKs), a measure of total distance flown by paying passengers, activity in April reached 62.8 percent compared with the same month in 2019

Boeing faces heat over quality control after Alaska Airlines fiasco

The Alaska Airlines episode represents the most serious operational problem for Boeing since two crashes on 737 MAX 8 planes...

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EasyJet, Airbus sign US$20bn deal

The no-frills airline will buy 157 aircraft from Airbus.

Saudi Arabia to enhance air connectivity to over 250 destinations by 2030

RIO DE JANEIRO, BRAZIL - A delegation led by President of the General Authority of Civil Aviation (GACA) Abdulaziz bin...

Air France-KLM to buy stake in SAS

Air France-KLM will buy 19.9% shares of SAS.

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$15m paid in compensation to passengers in 2021-22 in Saudi Arabia, says GACA

RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) said that national airlines in the Kingdom have issued...
  • These compensations were given primarily to deal with issues such as delays, loss of luggage, flight cancellations.
  • GACA aims to ensure that passengers are well-informed about their rights and can easily obtain refunds as per the regulations.

One pilot dead in helicopter crash off Dubai coast, another missing

The pilots of Bell 212 helicopter -- an Egyptian and a South African -- had been on a training flight...
  • The Bell 212 helicopter went down in Gulf at around 8:30 pm (1630 GMT) on Thursday after taking off from Dubai's Al Maktoum International Airport, the aviation authority said.
  • The GCAA confirmed that one member of the crew was found dead, while search and rescue operations were continuing to find the other missing pilot.

Abu Dhabi to unveil one of world’s biggest airport terminal

Dubai, UAE - An airport terminal able to handle up to 45 million passengers a year will open in Abu Dhabi...
  • Terminal A in the Abu Dhabi airport will be able to accommodate 11,000 travelers per hour and 79 aircraft at a time.
  • The new facility, also known as Midfield Terminal Building, "is scheduled to begin operations in early November 2023", local media said.