All Middle East news – Page 20
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Analysis
Which airlines welcomed new aircraft types into their fleets during 2022?
A selection of the aircraft deliveries over the past 12 months that saw airlines welcome new types or variants into their fleets
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Newsletter
Tracking a strong end to 2022
The first set of data from The Airline Business 38 reflects the strong recovery being seen in markets around the world.
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In depth
Airline Business performance tracker: rest of world Q3 2022
Key data from the most-recent earnings period – the fourth quarter of 2022 – and the equivalent periods stretching back to the last pre-Covid year, powered by Airline Business Insight
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In depth
Airline Business performance tracker: key data indicators from around the world
The Airline Business perfromance tracker features key data indicators from dozens of airlines around the world, drawing metrics from the most recent earnings season and comparing the figures with equivalent periods back to 2019.
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News
Kuwait Airways slashed losses for 2021 but deficit remains heavy
Kuwait Airways’ parent company has disclosed a full-year loss of KD104.8 million ($342 million) for 2021, although this figure is less than half the previous deficit. It generated revenues of KD196 million including nearly KD178 million in passenger and cargo revenues for the year. Kuwait Airways’ employee costs fell by ...
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News
Airbus and Qatari regulator set for crucial meeting over A350 grounding
Airbus and Qatar Airways are set to participate in a crucial meeting with civil aviation regulators next month, at a crucial session intended to explore issues relating to the controversial grounding of the carrier’s A350s. The meeting, scheduled for 11 January in Doha, is likely to be a focal point ...
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News
El Al offers to take additional 787-9 originally built for another customer
Israeli flag-carrier El Al has formally put forward an offer to purchase another Boeing 787-9, an aircraft which was originally manufactured for another customer. The airline has 15 787s in its fleet and already intends to take another – a delivery deferred during the pandemic – to complete its original ...
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News
Airbus convinces judge to split trial in Qatar A350 dispute
Airbus has secured a split trial in its legal clash with Qatar Airways over the skin-paint deterioration issue with the airline’s A350 fleet. The two sides met in court on 16 December for the latest case-management conference. Airbus had previously warned that the trial – set for June next year ...
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News
El Al’s main shareholder looks to swap debt for equity
Israeli flag-carrier El Al’s primary shareholder is seeking to conduct a debt-for-equity swap involving a loan to the airline. Kanfei Nesharim holds 39% of the El Al share capital – and 54% on a fully-diluted basis – according to the company’s third-quarter financial statement. El Al says its board of ...
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News
Etihad recruits another ex-TAP executive as chief financial officer
Etihad Airways has named another former TAP Portugal executive, Raffael Quintas, as chief financial officer, just weeks after appointing TAP’s ex-chief, Antonoaldo Neves, to lead the airline. Quintas became TAP’s finance chief in 2018 having previously worked as treasurer of Brazilian carrier Azul. His career has also included strategic roles ...
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In depth
Airline Business Covid-19 recovery tracker: December 2022 update
Our regular examination of the latest global data for several key airline market indicators, including traffic and capacity in passenger and cargo markets, in-service and stored fleets, jet fuel costs, and share price trends for the world’s largest groups.
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News
Star Alliance chief Goh set to head Gulf Air holding company
Star Alliance chief Jeffrey Goh is to take up a position heading the Middle East’s Gulf Air Group Holding, which oversees Gulf Air and its associated companies. Goh will become the chief of the Bahraini group from 1 January. He had indicated earlier this year that he planned to step ...
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News
Etihad partially restoring A380 fleet for service on London route
Middle Eastern carrier Etihad Airways is to re-introduce Airbus A380s from next year, initially on the London Heathrow route. Four of the double-deck type will be brought in from summer 2023 to address increasing demand on the Abu Dhabi-based airline’s network. New Etihad chief executive Antonoaldo Neves says the carrier ...
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Analysis
Razor-thin airline industry profit projection for 2023 reflects complex web of factors
It is not for nothing that IATA director general Willie Walsh described the challenges faced by airlines going into 2023 as “complex”.
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News
IATA forecasts global airline industry will return to profit in 2023
The global airline industry is forecast to achieve a net profit of $4.7 billion in 2023 as the recovery from the Covid-19 crisis continues, according to IATA. That would mark the industry’s first positive result since the pandemic hit in 2020, with airlines on course for a loss of $6.9 ...
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News
Global Knafaim to raise equity for Tus Airways loan repayment
Israel’s Global Knafaim Leasing is injecting additional capital into Cypriot carrier Tus Airways, via a share issue, the lessor reveals in its third-quarter financial statement. It says that the board approved the extra investment of $2 million on 30 November. Investment partner Kenneth Woolley has similarly contributed in order to ...
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News
ALAFCO seeks shareholder approval for $2.2bn Macquarie acquisition
Kuwaiti lessor ALAFCO is to convene a shareholder meeting to approve a substantial acquisition by asset management firm Macquarie AirFinance. ALAFCO states that its board discussed and reviewed, on 29 November, a proposal for the acquisition – valued at $2.215 billion – which includes sale of 53 aircraft from its ...
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News
Israir details updated bid for Smartwings
Israeli carrier Israir has detailed its binding offer for Czech operator Smartwings, but has yet to discover whether it will be successful. Israir says the transaction, if accepted, would be valued at €44 million which includes €8 million for the entire share capital of Smartwings. Another €12 million would be ...
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News
New Riyadh King Salman airport to absorb current King Khalid hub
Riyahd’s King Khalid international airport is to be absorbed into a larger complex which will be named after Saudi Arabia’s current ruler, King Salman. The airport will be expanded to accommodate up to 120 million annual passengers by 2030, according to a masterplan released by the sovereign Public Investment Fund, ...
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News
El Al to bring in freighter next year and signals plans to renew narrowbodies
Israeli flag-carrier El Al is pressing ahead with plans to introduce a dedicated freighter, indicating that the aircraft will arrive in the second quarter of next year. It has not identified the type but indicates that it will be a narrowbody aircraft in its latest fleet plan, outlined in the ...