Air Arabia Q2 profit $125m
Business
Air cargo demand up 8.3 percent in November 2023, says IATA
GENEVA, SWITZERLAND - The International Air Transport Association (IATA) released data for November 2023 global air cargo markets indicating the...
Business
Business
Nigerian airlines suspend flights over soaring fuel prices
The cost of fuel has soared worldwide since Russia invaded its neighbor Ukraine in February and the West responded by...
- A customer will have to pay 120,000 naira ($289) for a one-hour flight as fuel price soared which is unaffordable for Nigerians, so Airlines decided to stop flying
- Aviation ministry urged airlines to "consider the multiplier effect of shutting down operations, on Nigerians and global travelers"
Business
Lufthansa cuts Q1 losses
German carrier set its sights on a record summer for traffic.
- The airline group's net loss over the first three months of 2022 came to 584 million euros ($620 million)
- The number of passengers on Lufthansa flights "more than quadrupled" in the first quarter to 13 million
Analysis
Eid holidays boost Gulf tourism as COVID curbs ease
From overseas to the domestic circuit, the tourism industry in the Gulf Cooperation Council is witnessing a welcome resurgence, especially...
- Gulf citizens are looking to spend Eid al-Fitr abroad after being compelled to stay home for the past two years
- This year’s Eid al-Fitr holiday witnessed high occupancy in the UAE hotel sector, driven by strong domestic tourism demand
Business
Boeing shares dive on $1.2bn loss
The company is set for recovery in 2022-23, said analysts.
- Boeing shares finished 7.5 percent lower at $154.46, beyond the expectations of analysts as the firm is delaying release of its 777X model
- Boeing will lift production of 737 MAX in next quarter of this year as it has reported a jump in the plane deliveries during the first quarter
Business
Etihad Engineering partners with Touchdown Aviation for aircraft parts
Touchdown Aviation (TDA) will provide Etihad Engineering supply chain solutions locally in Abu Dhabi, to ensure the availability of high...
- Etihad Engineering has successfully completed maintenance projects over the years for airlines from all over the world.
- The company's state-of-the-art 500,000 sqm facility is located in Abu Dhabi, adjacent to Abu Dhabi International Airport.
Business
EU passengers can claim compensation for delays even outside Europe
EU travelers who book flights through a European airline can claim compensation in the event of a major delay of...
- The European Court of Justice said that the entirety of a journey that was subject to a single reservation fell under the EU's rules on flight delays.
- The court was hearing a case that involved a journey booked through German carrier Lufthansa for three passengers from Brussels to San Jose in California.
Business
JetBlue makes $3.6bn bid for Spirit Airlines, upstaging Frontier deal
JetBlue Airways announced Tuesday a bid to acquire Spirit Airlines for $3.6 billion, setting up a bidding war with Frontier...
- The all-cash bid of $33 a share marks a 52 percent premium of Spirit's price prior to its February 7 announcement of the deal with Frontier
- Frontier opposed JetBlue announcement and said its proposed merger with Spirit remained "in the best interest of consumers and shareholders
A jet with 132 people on board crashes in China
A China Eastern passenger jet carrying 132 people crashed in southern China on Monday, aviation authorities said, with state media...
- The Boeing 737 flight from Kunming city to the southern hub of Guangzhou "lost airborne contact over Wuzhou" city in the Guangxi region
- One villager told a local news site that the plane involved in the crash had "completely fallen apart"
Business
Saudi ratifies protocols on Convention on International Civil Aviation amendments
The first protocol stipulates raising the number of members of the International Civil Aviation Organization (ICAO) Council from 36 to...
- The first protocol stipulates raising the number of members of the International Civil Aviation Organization (ICAO) Council from 36 to 40 members
- The second protocol provides for raising the number of members of the Air Navigation Commission from 19 to 21 members
Business
GCC airfares soar as oil prices rise
The amplifying factors include sanctions against Russia’s aviation sector, which cast a global pall over the aviation industry.
- Several Arab airlines have decided to raise the prices of their tickets slightly
- Kuwait’s Jazeera Airways increased fares to all destinations from March 7
Company News
Air Arabia Q2 profit $125m
Business
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Libya resumes flights to Italy after nearly 10 years of EU ban
Tripoli, Libya - A Rome-bound aircraft departed on Saturday from Libya's capital, restarting flights to Italy after a nearly decade-long suspension...
Geostrategy
$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...
Geostrategy
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...
Geostrategy
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Business
Kuwait Airport expects 13% rise in passenger numbers, says DGCA
KUWAIT CITY, KUWAIT - Kuwait's Director General of Civil Aviation (DGCA) expected that the total passenger traffic to and from...
- The total passenger traffic from Kuwait International Airport in the present summer season is expected to reach 5.75 million passengers.
- Kuwait Airport expects to operate 45,000 flights this season, an increase of 15 percent compared to last year.
Business
Agility posts Q2 earnings of $46m
Net profit was affected by higher interest rate.
- For the first six months of 2023, Agility’s net profit stood at US$95.5 million.
- There was an increase in debt for financing the firm’s acquisitions last year.
Business
Air Arabia Q2 profit $125m
The company’s turnover during the second quarter was $380m.
- The profit increased by 187 percent compared to AED160 million ($43.56m) net profit reported for the same period last year.
- The company’s turnover for the same period increased by 25 percent, as the strong demand for air travel continued.