Rolls-Royce to cut 4,600 jobs to save over $500 mln a year

Thursday, 14 June 2018

Britain's Rolls-Royce said it would cut 4,600 jobs primarily in the UK as part of a plan to simplify its business and save 400 million pounds ($536 million) a year by the end of 2020.The engineering company said the job cuts and overhaul of its business would cost it 500 million pounds and be spread across 2018, 2019 and 2020. It will be reported as separate one-off costs, allowing it to stick to its targets for free cash flow.“These changes will help us deliver over the mid and ...

Terms likely to be sweetened as Air India fails to woo suitors

Friday, 8 June 2018

The Indian government, which has failed to woo even a single suitor for its loss-laden national carrier, Air India, has started clearing the decks to launch the sale again after sweetening the stringent terms, which put potential buyers to flight. With the humiliating fiasco blotting Prime Minister Narendra Modi’s copybook ahead of the general elections next year, the administration is now bent on finding the highest bidder by August and wash its hands of the 86-year-old ailing airline by ...

New Jeddah international airport begins trial operations

Wednesday, 30 May 2018

King Abdulaziz International Airport in Jeddah, Saudi Arabia, had a soft launch on Tuesday as part of a four-phase trial opening in preparations for full operation. It welcomed its first Saudia domestic flight , SV 1291, from al-Qurayyat as a part of the opening. The airport features advanced technology as well as a Hajj terminal designed especially for pilgrims taking part in their annual rituals. The Hajj Terminal has a distinctive tent-like roof structure designed by Bangladesh-American ...

Saudi Arabia’s Haramain Express train line to offer free rides

Wednesday, 30 May 2018

The management of the Haramain Express train line project said it will allow Saudis who wish to try the new express train to register to book free tickets. The free rides, to travel between the two holy cities of Medina and Mecca via King Abdullah Economic City, will begin this Friday, June 1, and will be organized at the end of every week. Rumaih Al-Rumaih, president of the Public Transport Authority, told the Saudi Press Agency that this important phase of the project requires getting the ...

First flight to land at Saudi Arabia’s new Jeddah airport

Tuesday, 29 May 2018

Saudi Arabia’s new King Abdulaziz International Airport (KAIA) in Jeddah will have the soft opening on Tuesday with the landing of a domestic flight from Al-Qurayyat. The airport will start full domestic and international services by the beginning of 2019. This was announced in a meeting attended by Prince Khaled Al-Faisal, emir of Makkah and adviser to Custodian of the Two Holy Mosques; Prince Abdullah Bin Bandar, deputy emir of Makkah; Minister of Transport Nabeel Al-Amoudi, and Abdul ...

Saudi Arabia joins global customs transit system

Wednesday, 23 May 2018

Saudi Arabia has become the 74th country to ratify the TIR Convention, a multilateral treaty to simplify and harmonize the administrative formalities of international road transport. This was announced in a press release issued by International Road Transport Union (IRU). The Saudi government will use the TIR system to help improve and develop its transport sector, as outlined in its Vision 2030 and National Transformation Program 2020, positioning the country as a key logistics hub. More than ...

Dubai’s Emirates airline profit more than doubles on cargo demand

Wednesday, 9 May 2018

Leading Middle East airline Emirates said on Wednesday its net profits had more than doubled last year, mainly on improved cargo business. The Dubai flagship carrier posted a 124 percent increase in net profit to $762 million in the fiscal year ending in March. Despite the sharp increase, the profit is still way below the $1.9 billion the airline recorded in the 2015-16 financial year. “We benefitted from a healthy recovery in the global air cargo industry, as well as the relative ...

After years of delays, Pakistan’s new Islamabad airport opens

Thursday, 3 May 2018

Pakistan’s long-awaited new airport in the capital Islamabad opened its doors Thursday, after years of delays and embarrassing setbacks that exposed the difficulty of building modern infrastructure in the chaotic country. “The new Islamabad International Airport became fully operational from today with the departure and arrival of several domestic and international flights,” Pervez George, spokesman for Pakistan’s Civil Aviation Authority, told AFP. “Flights took ...

Air France cuts back on Iran flights due to weak demand

Wednesday, 2 May 2018

Air France is cutting its Joon subsidiary’s service between Paris and Tehran to the summer season only, due to poor economic performance over two years in operation, an Air France spokeswoman said. “Air France has decided to adapt its program to better match demand,” the spokeswoman told Reuters in an email message, adding that the decision would take effect from October 28. Air France’s move comes amid international uncertainty over whether or not US President Donald ...

VIDEO: Opening up of Saudi Arabia will fuel airline business in the region

Wednesday, 2 May 2018

Opening up of Saudi Arabia will fuel airline business in the region, Ghaith al-Ghaith, CEO of flydubai has said. “This region is growing by 6 percent every year … and the fact that other places in the region are opening up is encouraging because it will encourage more people to come,” he said on the sidelines of Aerospace Summit in Abu Dhabi. On the recent fleet expansion he said: “We just made a huge order during the Dubai Airshow have in excess of 200 aircraft on order ...

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