SHARE
Dubai International Airport s first-quarter passenger traffic dropped 67.8 per cent to 5.75 million compared to the same quarter a year ago, which was largely unaffected by the Covid-19 pandemic, its operator said.
The year-on-year contraction came as the suspension of operations by airlines and airports worldwide to stem the spread of the pandemic only began at the end of March, Dubai Airports said in a statement on Wednesday. Whilst passenger numbers for the first quarter remained significantly below the monthly volumes we handled before March 2020, in the context of the current global situation they are very encouraging and reflect the consolidation phase in our business recovery, Paul Griffiths, chief executive of Dubai Airports, said.
SHARE
Saudi Arabia is in talks to sell a 1 per cent stake in Saudi Aramco, the world s biggest exporting oil company, to a leading global energy company, the kingdom s crown prince said.
The potential new stake sale in the oil giant to international investors may happen within the next one or two years, Saudi Crown Prince Mohammed bin Salman said in an interview broadcast on state TV on Tuesday. The stake sale could be worth about $18.9 billion, based on the company s current market capitalisation of 7.11 trillion riyals ($1.89tn). I don t want to make promises before deals are finalised, but there is a discussion now about an acquisition of 1 per cent by one of the leading energy companies globally and this will be a very important deal in cementing Aramco s sales in . a major country, he said.
SHARE
Middle East airlines will face an inevitable shortage of pilots in the post-pandemic travel era if they do not start taking action now, according to a new report.
Though the pilot shortage in the region is not likely to emerge until 2024, it is expected to steadily grow again through to 2029, management consultancy Oliver Wyman said in a report. As a net importer of pilots, growth in this region may also affect supply in other regions, it said. While airlines are understandably focused on addressing the immediate impacts of the global pandemic, preparing for the impending pilot shortage will be essential in re-growing and rebuilding operations in the coming years,” Michael Wette, head of India, Middle East and Africa transportation and services at Oliver Wyman, said. Due to the pivotal role that air transport plays in the economy, the industry will recover – and with it the demand for pilots.