Tourism Airbus wins backing for 2024 jet output European planemaker Airbus looks set to raise narrowbody jetliner production for 2024 after reaching a compromise deal with at least two suppliers following months of wrangling over the speed of post-pandemic recovery. The world’s largest planemaker is restoring and slightly expanding pre-pandemic output for best-selling models as traffic rebounds in the West, but has been […] April 29, 2022
Tourism China’s airlines post heavy losses on coronavirus curbs China’s three biggest airlines have reported heavy first-quarter losses as prolonged coronavirus curbs weighed on travel demand and a weakening Chinese currency and rising fuel prices inflated costs, trends which persist in the current quarter. Analysts expect another year in the red for Chinese airlines as Beijing sticks with its zero-coronavirus policy to stop the […] April 29, 2022
Tourism Hong Kong eases coronavirus rules for aircrews Hong Kong will shorten mandatory hotel quarantine for passenger flight crews to three days from seven, while cargo crews will be exempt, modest steps at unwinding coronavirus curbs that have turned the city into one of the world’s most isolated places. The changes, which take effect in May, give the global financial hub’s aviation trade […] April 29, 2022
Tourism Emirates widens refurbish plan amid delivery delays Emirates will refurbish more of its existing fleet than previously planned,its chief commercial officer said on Tuesday, as the airline faces delays to deliveries of new Boeing jets and seeks assurances over concerns with the Airbus A350s it ordered. The Gulf carrier is spending over a $1 billion to refurbish the fleet which includes installing a new premium economy […] April 29, 2022
Retail Dubai’s GMG to operate French supermarket chain Géant in UAE Dubai retailer GMG said on Tuesday it had acquired the United Arab Emirates’ operations of French supermarket chain Géant from a company owned by Dubai Holding, of Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum. GMG said it also acquired the rights to expand Géant’s operations in the Middle East as part of the deal from […] April 28, 2022
Tech UAE agtech Right Farm raises $2.8m from investors Right Farm, a United Arab Emirates agriculture technology firm, said on Monday it raised $2.8 million from investors including Abu Dhabi state holding company ADQ’s venture platform. The company is a business to business digital platform which sources fresh produce from local and international farms for the food and retail sector. Right Farm said in […] April 28, 2022
Tourism Private jets see General Dynamics profit take off Gulfstream jet maker General Dynamics Corp on Wednesday posted a 3.1 percent rise in first-quarter profit, as demand for private air travel during the coronavirus pandemic remained high. Shares were up 3.5 percent in morning trading to $245.16. Cautious passengers who opted for private flights instead of commercial flights due to fears of contracting coronavirus […] April 27, 2022
Tourism Boeing shares plunge on fresh 777X setbacks Boeing said on Wednesday it was halting 777X production through 2023 due to a fresh delay in its entry into service after certification problems and weak demand, with $1.5 billion in added costs for the mini-jumbo program. Shares of the US planemaker fell 11 percent to $146.62 in early trading – a nearly 1-1/2 year […] April 27, 2022
Turtle Beach explores options to defend against hedge fund Turtle Beach Corp is looking at strategic alternatives including a possible sale, the company said, as it seeks to defend itself against a hedge fund which is seeking to replace all of the gaming equipment company’s six board members. Investment advisory firm Donerail Group and Turtle Beach have both made regulatory filings urging the company’s […] April 25, 2022
Real Estate UAE’s Aldar Properties buys beach property in Ras Al Khaimah Abu Dhabi’s Aldar Properties, through its investment arm, has acquired the “Rixos Bab Al Bahr” beach property in the emirate of Ras Al Khaimah for 770 million dirham ($210 million), it said on Friday. The acquisition will bring its total investment in Ras Al Khaimah to 1.5 billion dirhams, including the earlier acquisition of Al […] April 2, 2022
