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Qatar Airways wants to be launch customer for Boeing 777X

Thursday, 16 May 2013

Qatar Airways’ top executive said the Middle Eastern carrier wants to be a launch customer for Boeing’s forthcoming 777X mini-jumbo jet, and that the airline plans to open at least three new routes to the United States in the next 12 to 18 months. “We are very keen on the 777-8 and -9X aircraft and we are receiving presentations from Boeing in this regard,” Akbar al-Baker, CEO of the Doha-based airline, said in an interview with Reuters on Wednesday. “We would ...

Air Arabia seen higher as quarterly earnings rise

Tuesday, 14 May 2013

Shares in Dubai's Air Arabia may gain investor interest after the budget carrier posted a sharp rise in first-quarter net profit. The Sharjah-based airline said it made a net profit of Dh59 million in the quarter. Shares in the carrier slipped 0.9 percent on Monday ahead of the results but are up 30.5 percent year-to-date mainly in anticipation of improved results. “Air Arabia was in an overweight position from the beginning of the year and the results are a clear example of growth in ...

Kuwait may sign plane deal in May, Airbus favoured, sources say

Monday, 13 May 2013

Kuwait is studying plans by its airline to buy 25 Airbus jets, a source with knowledge of the matter said, in the most sweeping overhaul since part of its fleet was seized after Iraq invaded the Gulf state in 1990. The proposal calls for state-owned Kuwait Airways to buy 25 new Airbus jets and to lease a further 13 to upgrade its fleet but needs government approval, the source said. It could be signed by the end of this month. The move comes months after Kuwait was awarded $500 million by Iraqi ...

Emirates says annual profit jumps 52% to $622m

Thursday, 9 May 2013

Dubai's Emirates Airline said on Thursday it posted Dh2.3 billion ($622 million) in annual net profits in 2012-2013, a 52 percent boost on the previous year, as passenger numbers exceeded 39 million. The carrier's profit was “at Dh2.3 billion, representing an increase of 52 percent over last year's results,” Emirates said in a statement. Emirates Group as a whole, which also includes Dnata travel services, posted Dh3.1bn in net profit, with total revenues increasing 17 percent to a ...

Qatar approached British Airways parent over Bankia stake

Wednesday, 8 May 2013

Qatar has approached International Airlines Group, the owner of British Airways and Iberia, with an informal offer to become the company's largest shareholder by buying the 12 percent stake held by Spain's nationalized lender Bankia, the Financial Times reported. Qatar had approached IAG to ask whether the company would welcome it as a shareholder, the FT said citing two people familiar with the matter. The financial daily cited one of those people as saying the initial approach was made last ...

Qatar Airways in talks with Airbus to buy 10-15 A330s

Monday, 6 May 2013

Qatar Airways is in talks with Airbus to buy between 10 and 15 of the European planemaker's A330 passenger jets following the grounding of Boeing's 787 Dreamliner, the airline's chief said on Monday. Airline industry regulators grounded Boeing's 787 in January due to battery faults. Qatar Airways returned the aircraft to service last week but the problems have caused delivery schedule delays that prompted Qatar Airways to consider buying more A330s, chief executive Akbar al-Baker said in an ...

Gulf airlines prepare for Boeing's 777X offering

Monday, 6 May 2013

As they prepare to buy Boeing's new 777X jet, Gulf airline giants Emirates and Qatar Airways are warning that Boeing must avoid the mistakes of the 787 Dreamliner, which cost customers millions of dollars when its batteries failed. These fast-growing Gulf carriers are expected to be among the first and possibly biggest customers for Boeing's latest offering, which was presented to customers last week. "For sure they have changed, I hope they have," Emirates' President Tim Clark said, ...

Dubai airport passengers jump 20.6 percent in March

Monday, 29 April 2013

Passenger traffic at Dubai's main airport exceeded 5 million people for the fourth straight month in March, jumping 20.6 percent from a year earlier, airport authorities said on Monday. Dubai International, one of the world's busiest airports, handled 5.85 million passengers in March compared to 4.85 million a year ago. Year-to-date traffic was up 15.6 percent to 16.49 million passengers. The largest increase in passenger numbers was recorded on western European routes serviced by Dubai ...

Shares in India’s Jet Airways soar on Etihad stake deal

Thursday, 25 April 2013

Shares in Indian carrier Jet Airways surged by a fifth to a near three-year-high in early trade Thursday after Abu-Dhabi-based airline Etihad said it had agreed to buy a 24 percent stake in it. Jet shares rose 19.99 percent to 688.6 rupees - its highest level since August 2010 - at the Bombay Stock Exchange. Investors cheered the deal as Jet will benefit from strategic expertise and a capital injection from Etihad, while the Gulf carrier gets access to a vast growing Indian market. The agreement ...

Etihad to buy stake in India's Jet Airways for $379m

Wednesday, 24 April 2013

India's Jet Airways will sell a minority stake to fast-growing Abu Dhabi-based carrier Etihad Airways for roughly $379 million after months of negotiations. India's largest airline by market share said in a brief statement to the stock exchange that its board approved the allotment to Etihad of 27.3 million shares at 754.74 rupees each on a preferential basis. The price represents a 31.7 percent premium to Jet's closing share price on Tuesday. Indian markets were closed on Wednesday. No other ...

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