flynas receives 50th jetliner out of 120 Airbus A320neo ordered
RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
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Passenger traffic could exceed earlier figures, says Dubai Airports’ CEO
DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic...
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Airlines to fly 4.35bn passengers this year, says industry group
ISTANBUL, TURKEY - Airlines will fly 4.35 billion passengers this year, close to the 2019 record as the industry bounces back...
- The sector will also be back in the green, with net profits forecast to reach $9.8 billion in 2023.
- The association said that its 2022 losses were half as bad as previously estimated at US$3.6 billion.
Business
Qatar Airways boss skeptical on aviation industry’s 2050 net zero target
DOHA, QATAR - Qatar Airways' chief executive on Tuesday doused hopes that the aviation industry can become carbon neutral by 2050,...
- Not enough sustainable aviation fuel is being produced, and technological hurdles remain to using hydrogen as a replacement.
- In 2021, the International Air Transport Association's member airlines committed to achieving net zero carbon emissions by 2050.
Business
easyJet H1 loss $382m
Aviation sector is flying high after a tumultuous period
- The carrier added that revenues soared 80 percent to £2.7 billion ($3.36bn) on higher ticket prices and increased capacity.
- Costs, however, leapt 52 percent to £3.1 billion ($3.85bn) on a "significantly" increased jet fuel bill and "industry-wide" inflationary pressures.
Business
Emirates Group yearly profit $3bn
The group declared a dividend of $1.2 billion to its owner.
- The Emirates airline business alone banked $2.9 billion after returning a $1.1 billion loss in the previous financial year.
- The Middle East's biggest airline had posted a $5.5 billion loss for Covid-ravaged 2020-2021, its first in over three decades.
Business
Airbus Q1 net profit at $514m
The company delivered 127 aircraft in Q1 of 2023.
- Revenues generated by Airbus' commercial aircraft activities decreased by five percent year-on-year.
- The company's defense and space unit saw revenues drop by six percent, while the helicopter unit jumped by 26 percent.
Business
Over 3.8m passengers transit through Sharjah Airport in Q1 of 2023
SHARJAH, UAE - Over 3.8 million passengers traveled through Sharjah Airport in the first quarter of 2023, recording a 28.01...
- The aircraft movement in Q1 of 2023 rose by 9.02 per cent, with 23,261 flights compared to 21,336 flights during the same period in 2022.
- There have been continued efforts by Sharjah Airport Authority to increase passenger numbers and aircraft movements.
Business
American Q1 profit at $10m
The airline's revenues were $12.2 billion, up 37 percent.
- The strong first-quarter results will enable American to make profit-sharing payments to employees for the first time in three years.
- With higher debt levels than rivals, American said it is around 60 percent through its goal of reducing debt by $15 billion by the end of 2025.
Geostrategy
Air France, Airbus acquitted over 2009 Rio-Paris crash
PARIS, FRANCE - Air France and plane manufacturer Airbus were acquitted Monday over the 2009 crash of a Rio-Paris flight after...
- The two companies went on trial in October to determine their responsibility for the worst aviation disaster in Air France's history.
- If convicted, Air France, Airbus would have risked a fine of US$250,000 as well as significant reputational damage.
Geostrategy
Saudi plane hit by gunfire in Sudan unrest, says airline
A passenger plane preparing to take off from Sudan for Saudi Arabia came under fire as deadly fighting rocked Khartoum,...
- Clashes broke out between Sudan's army and paramilitaries, and the doctors' union reported three civilian deaths, including at Khartoum's airport.
- Both the Saudi foreign ministry and the Gulf Cooperation Council, headquartered in Riyadh, issued statements of concern about the violence.
Business
Lufthansa to sell catering unit
LSG Group is to be sold to private equity group Aurelius.
- The airline giant had already sold LSG's European operations activities to Swiss-based Gategroup in 2019.
- The Lufthansa group was brought to the brink of bankruptcy when the COVID-19 pandemic saw global air travel grind to a halt.
flynas receives 50th jetliner out of 120 Airbus A320neo ordered
RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
Business
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Eve Air Mobility, flynas ink MoU
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Eve Air Mobility, flynas ink MoU
The firms will explore starting eVTOL services in Saudi Arabia.
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Saudi Arabia’s PIF to buy 10 percent stake in London’s Heathrow airport
Saudi Arabia's sovereign wealth fund is to buy 10 percent of London's Heathrow airport from Spanish infrastructure giant Ferrovial, whose...
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Dubai plans bigger airport as passenger traffic continues to increase
"Once we've reached about 120 million (passengers a year), which is what we think our total capacity at DXB (Dubai...
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Turkish Airlines explore options of buying 355 Airbus jets
Istanbul, Turkey - Turkish Airlines, the country's flag carrier, confirmed on Monday that it was in talks with Airbus to buy...
- The airline said that negotiations are held with Airbus regarding the purchase of a total of 355 aircraft.
- In September, Turkish Airlines revealed plans to purchase 10 additional Airbus A350-900 aircraft
Business
Emirates, flydubai among Boeing’s big customers at Dubai Airshow
Emirates, the Middle East's biggest airline, made the largest purchase with its $52 billion order for 55 Boeing 777-9s, 35...
- Budget carrier flydubai, owned by the Dubai government, ordered 30 Boeing 787-9s valued at $63 billion -- its first wide-bodied, or large-capacity planes as it plans to expand.
- Last week Emirates Group announced record half-year net profits of $2.7 billion, up 138 percent from a year earlier, driven by strong demand.
Business
Dubai Airshow 2023 to see 1,400 exhibitors from 95 countries
DUBAI, UAE – The biggest edition of the Dubai Airshow, a significant global event for the aerospace, space and defense...
- More than 1,400 exhibitors from 95 countries and over 300 international speakers will gather at the at Dubai World Central.
- Dubai Airshow 2023 is also set to welcome leading and new airlines from across the globe, ready to showcase new concepts to the industry.