Abu Dhabi-based carrier Etihad Airways has taken another step to widen its foothold in the European market by buying a near 3% stake in Dublin-based carrier Aer Lingus.
United Arab Emirates:
Tuesday, May 01 - 2012 at 15:31
While the Middle East hotel market has begun to stabilise since the political unrest in the first half of 2011, growth in the hospitality sectors among the different countries in the region will be mixed this year, according to speakers at the Arabian Hotel Investment Conference.
The Middle East's aviation industry has weathered the ill-effects from the Arab Spring, but the sector's recovery is fragile and it faces challenges on several fronts, said Tony Tyler, director-general of the International Air Transport Association (IATA).
The CEO of Qatar Airways said Middle East carriers will be hit hardest by the European Union's new emission trading scheme (ETS), which he referred to as an 'unnecessary' tax.
The explosive growth rate of low-cost carriers in the Middle East has slowed in recent years, but the market is still ripe for exploitation as LCC penetration remains very low in the region compared to many other parts of the world, according to a new report by the Centre for Asia Pacific Aviation (CAPA).
Although Gulf airlines are forecast to register a healthy profit in 2012, there is a wide disparity in their balance sheets, as some carriers across the region are among the most profitable in the world while others are at risk of being shut down.
After seeing tourist arrivals fall dramatically last year in the wake of the political unrest in the country, Bahrain is hoping that the return of the Formula One race will be a catalyst that will help revive the country's tourism sector.
The International Air Transport Association has cut its global profit estimate for the industry to $3bn from $3.5bn due to rising oil prices, but raised its forecast for Middle Eastern carriers as regional differences widen.
Jet Airways India, the country's top private-sector carrier, has announced that it will provide a direct connection between Dammam in Saudi Arabia and Delhi four times a week from March 17, 2012.
Hotel performance varied widely in the Mena region last year in the wake of the Arab Spring, as it was home to the city with the highest average room rates in the world, as well as the five destinations where room rates dropped the most, according to a new survey by Hotels.com.
Etihad Airways is actively seeking to buy stakes in more carriers across the globe as part of an effort to expand its network and grow its customer base.
United Arab Emirates:
Tuesday, March 13 - 2012 at 12:03
More than 235,000 business people visit the AMEInfo Business Directory every week - start growing your customer base today by listing your company details.
Experts say the persistence of a thriving grey market for business jets in the Middle East remains the biggest hurdle to the growth of the sector in the region.
The Saudi Arabian Mining Company (Ma'aden) and Alcoa announced the achievement of the First Hot Metal milestone 12/12/2012 at their joint venture smelter...
Qatar is an oil-rich peninsula jutting out into the Gulf between Bahrain and the United Arab Emirates. The majority of the country consists of sand dunes and salt flats.