Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
Business
India finds apparent wreckage from 2016 military plane crash
New Delhi, India - India said on Friday it had likely found wreckage from an Indian Air Force transport plane that...
Geostrategy
Business
Xiamen Airlines to buy aircraft
The airline plans to buy 40 A320neo aircraft from Airbus.
- The airline, based in the southeastern city of Xiamen has until now had exclusively Boeing aircraft in its fleet.
- While weakened by the pandemic, airlines around the world are preparing for an expected doubling of air travel in the next two decades.
Business
Air passengers number up, reveals global aviation meet in Dubai
Some of the greatest minds in the aviation industry took to the stage at this year’s Global Aviation Conference in...
- Air passenger numbers are expected to exceed 80 percent of pre-pandemic levels this year.
- The surge would be driven by strong pent-up demand, eased travel restrictions, and growing employment rates.
Business
Lufthansa back in private hands
The German government sold its last shares in the company.
- To save Lufthansa from bankruptcy during Covid, Germany took a 20-percent stake in the group under a nine-billion-euro (dollar) state aid package.
- Germany agreed to sell the stake by 2023, but with Lufthansa's finances stabilizing, Berlin was able to start selling its holdings by November last year.
Business
EU commercial flights surge 25 percent in August 2022
Brussels, Belgium - The number of commercial flights in August 2022 in the EU increased 25 percent compared to August...
- The numbers are still below the pre-pandemic levels, but the gap is eventually decreasing.
- Also, some EU airports recorded increase in the total commercial flights compared with 2019.
Business
Abu Dhabi-based firm GAAC to handle air traffic in Afghanistan
Kabul, Afghanistan - A United Arab Emirates firm signed a contract with Afghanistan on Thursday to manage air traffic across...
- The contract is part of more than $300 million that Abu Dhabi based GAAC aims to invest in Afghanistan over a 10-year period to develop its aviation sector.
- The deal allows GAAC to "operationalize airspace to allow the passage of international carriers", the company's regional head Ibrahim Moarafi said.
Business
Abu Dhabi’s Al Bateen Executive Airport reopens after upgrade
Al Bateen Executive Airport has reopened following the successful completion of a major refurbishment project which will allow the airport...
- Al Bateen Executive Airport has reopened after the completion of a major refurbishment project.
- The work, completed in under 90 days, involved resurfacing and widening the 3.2km runway to accommodate wide-body aircrafts, among others.
Business
Dubai Airports win Gold Stevie Award for Great Employers 2022
Dubai Airports has been named the winner of a Gold Stevie Award in the Most Innovative Workplace Redesign During COVID-19...
- Dubai Airports wins Gold Stevie Award for initiatives during the pandemic to protect the health and wellbeing of employees, customers and guests.
- This included the redesign of the Dubai Airports workplace with the installation of onsite testing and vaccination facilities.
Business
Air Arabia H1 profit $122.8m
More than 2.7 million passengers flew with Air Arabia from Mar-June.
- More than 5.2 million passengers flew with Air Arabia between January and June 2022 across the carrier’s five hubs.
- The company’s turnover for the second quarter of 2022 increased by 125 percent as demand for air travel increased.
Business
Global H1 air cargo demand up 2.2 percent over pre-Covid levels
Global air cargo demand rose by 2.2 percent in H1 2022 as compared to pre-COVID levels (H1 2019), according to...
- IATA figures indicate a healthy and stable performance across global air cargo markets showing.
- Global demand sunk by 6.4 percent compared to June 2021 levels (-6.6 percent for international operations).
Business
Embraer Q2 profit at $74.2m
It returned to profit in Q2 after posting a loss in first quarter
- Brazilian plane-maker Embraer returned to profit in the second quarter after posting a loss in the first
- The result was down 16 percent from the $87.9 million net profit it posted for the April-June period last year
Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
Business
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Delta posts Q3 profits of $1.1b Â
Business
Lebanon national carrier halves flights amid fears of Israel war
BEIRUT, LEBANON -  Lebanon's national carrier on Friday said it was cutting more than half of its flights as tensions along...
Business
Air Arabia launches non-stop flights between UAE’s Sharjah, Egypt’s Giza
SHARJAH/ ABU DHABI, UAE - Air Arabia announced the launch of a new route operating between Sharjah and Giza city...
Business
Archer to launch its all-electric air taxi service across UAE
ABU DHABI, UAE - Archer Aviation on Tuesday announced that it has entered into an agreement with Abu Dhabi Investment...
Business
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Business
Delta posts Q3 profits of $1.1b Â
The company’s revenues rose 11 percent to $15.5 billion.
- Delta and other US carriers have pointed to pent-up travel demand as a driver of strong results in recent quarters.
- The company described overall demand as "strong," domestic demand as "steady" and international strength as "extending through fall."
Business
Red Sea Global launches Saudi’s first seaplane company
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations -...
- Fly Red Sea aims to transport guests to various resorts scattered among the islands of Red Sea Destination.
- These resorts include St. Regis Red Sea Resort and Nujuma, Ritz Carlton Reserve, which would be inaugurated later in 2023
EasyJet, Airbus sign US$20bn deal
The no-frills airline will buy 157 aircraft from Airbus.
- The airline on Thursday said it had "entered into conditional arrangements" with European planemaker Airbus for 157 aircraft
- Together the deal was worth $19.9 billion and "will deliver lower fuel burn, CO2 emissions and operating costs per seat", EasyJet said