Middle East – Page 42
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NewsEmirates Group unveils rare full-year loss and expects ‘patchy’ track to recovery
Emirates Group slashed its workforce by nearly a third in response to the air transport crisis, the impact of which has driven the perennially-profitable operator to a rare full-year loss of Dhs22.1 billion ($6 billion). The airline division suffered a loss of Dhs20.3 billion, in contrast to its profit of ...
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NewsRoyal Jordanian renegotiates leases to rein-in fleet costs
Middle Eastern carrier Royal Jordanian has reached an agreement with one of its major lessors, and is negotiating with three others, in a bid to reduce the airline’s fleet costs. It says it hopes to finalise talks with the remaining lessors “shortly” and save around $40 million over the next ...
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NewsKuwait’s Jazeera steps up to London Heathrow services
Kuwaiti budget carrier Jazeera Airways is to open London Heathrow services from mid-June, two years after commencing operations at London Gatwick. The airline says it will operate its initial flight on 18 June, and serve the route from Kuwait weekly. Jazeera claims it will be the first low-cost airline from ...
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NewsCargo ‘permanently’ central to passenger-network decisions: Qatar Airways
Cargo has “permanently” grown in importance to Qatar Airways’ network decision-making, to the point where passenger demand alone is not enough justification to launch or relaunch a connection.
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NewsApril air cargo demand up 12% from pre-crisis level: IATA
Global air cargo demand in April was up 12% from pre-crisis levels, according to IATA, as the sector continues to offer a rare positive airline story during the Covid-19 crisis.
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OpinionIs IATA right to call for ‘data-driven decisions’ on international travel?
IATA’s belief is that draconian government restrictions are standing in the way of a meaningful restart of international travel, and that data proves those restrictions are an overreaction to the actual risks.
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NewsEmirates adds first Miami flights as Gulf carriers embrace US return
Emirates is to launch its first service to Miami in July, the latest step as Gulf carriers build back their US networks to pre-Covid crisis levels.
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AnalysisIATA chief economist signs off with optimistic outlook for airline recovery
Brian Pearce’s final IATA media briefing as the association’s chief economist saw him provide a relatively positive industry outlook, after a year in which he had become accustomed to delivering unimaginably bleak news about airline fortunes.
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NewsEl Al shareholder to take large stake in Cypriot carrier Tus Airways
El Al shareholder Knafaim Holdings has reached a preliminary agreement to acquire a 49.9% stake in the Cypriot carrier Tus Airways. Knafaim says it has signed a letter of intent covering the acquisition with US entrepreneur Kenneth Woolley, the sole shareholder of the carrier. Under the agreement Knafaim, through its ...
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NewsAirlines risk business failure if they do not act on sustainability: Etihad chief
Airlines that do not embrace the challenge of sustainability will eventually put their very existence at risk, in the view of Etihad Aviation Group chief executive Tony Douglas.
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NewsIATA expects airline passenger numbers to exceed pre-Covid levels in 2023
Airline industry body IATA has outlined an “optimistic” outlook for the Covid-19 recovery, forecasting that pre-crisis passenger numbers will be exceeded as soon as 2023.
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NewsEmirates chief warns Boeing it could reject 777-9 on performance grounds
Emirates has warned Boeing that it will not accept its first 777-9 aircraft unless they are “performing 100% to contract”, as the Middle Eastern carrier continues to lament a lack of clarity over when deliveries of the type will begin.
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NewsAirline recovery brings fresh cash-crunch risk as costs return: IATA chief
Airlines will face a new cash-crunch challenge as the resumption of operations sees a range of costs return alongside a lack of liquidity from forward bookings, in the view of IATA director general Willie Walsh.
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NewsAir Arabia sees no reason to adjust timeline for bumper Airbus order
Air Arabia Group’s fleet-expansion plans are unlikely to change as a result of the Covid-19 pandemic – as long as the forecast recovery in air travel demand play outs as expected – largely thanks to Airbus’s busy pre-crisis production schedule.
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NewsEmirates chief says international air travel could return at ‘staggering rate’
A successful global Covid-19 vaccination programme could see international air travel return at a “staggering rate” later this year, but only if “restraints” on travel are removed, in the view of Emirates Airline president Tim Clark.
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NewsEl Al chair steps down after seven months in post
El Al chair David Brodet has resigned from his position at the Israeli flag-carrier, just a few months into his tenure. Brodet was nominated to the post last year during an overhaul of the El Al management team as a new controlling shareholder took over the airline in September 2020. ...
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NewsEl Al not concerned about financial impact of Gaza hostilities
Israeli flag-carrier El Al has yet to determine the financial consequences of the armed conflict which has ignited in Gaza, but believes the impact is not material at this stage. While some foreign carriers have been cancelling flights to Tel Aviv, El Al says it has continued to offer an ...
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NewsJazeera and Air Arabia experience contrasting first-quarter fortunes
Kuwaiti budget carrier Jazeera Airways has turned in a first-quarter loss while Sharjah low-cost operator Air Arabia managed to achieve a net profit in the same period. Jazeera Airways is proposing a rights issue of KD10 million ($33 million) to improve its liquidity position, after posting a net loss of ...
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NewsEl Al financing agreement with Israeli state clears final hurdle
Israeli flag-carrier El Al’s financing agreement with the state has entered into effect, after the final condition – a government approval on the main points of the deal – was met. Several conditions had been outlined when the agreement was detailed in March, among them approval from the boards of ...
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In depthAirline coronavirus recovery tracker: May 2021 update
Our regular examination of the latest global data for several key airline market indicators, including international and domestic travel restrictions, 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.