Business and finance http://www.timesaerospace.aero/ en Saudia Group signs 12 agreements during Future Aviation Forum http://www.timesaerospace.aero/news/events/saudia-group-signs-12-agreements-during-future-aviation-forum <div property="schema:text"><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Arial&quot;,sans-serif">The Saudia group companies participated in five speaking sessions and signed a total of 12 agreements in the field of aviation, aircraft maintenance, advanced training in aviation, shipping and logistics, in addition to showcasing the latest services of various companies through the pavilion, and meetings with a number of sectors and companies to strengthen relations and pave the way for future partnerships.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Arial&quot;,sans-serif">Faisal AlBedah, CEO of SAL Saudia Logistics Company, and Teddy Zebitz, CEO of Saudia Cargo, participated in a conference on air cargo and logistics, to build its future capabilities, support innovation within the aviation value-chain, and boost sustainability efforts. They participated in a working paper on the contribution of the two companies to the growth of air freight as well as the latest trend on innovation in air cargo and logistics.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Arial&quot;,sans-serif">CEO of Saudia Airline, Captain Ibrahim Koshy participated in the Aviation Forum townhall session, which discussed three core thematic pillars of the Future Aviation Forum – future passenger experience, sustainability, and business recovery.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Arial&quot;,sans-serif">While, CEO of Saudi Aerospace Engineering Industries (SAEI), Captain Fahd Cynndy, was a speaker in a session on the changing dynamics of MRO and OEMs. SAEI has signed several agreements in advancing the national MRO industry’s agenda to elevate sustainability, value capture, and environmental stewardship.</span></span></span></p> <p>&nbsp;</p> <p>&nbsp;</p> </div> <div> <div>Posted date</div> <div><time datetime="2022-05-16T12:00:00Z">Mon, 16/05/2022 - 12:00</time> </div> </div> <div> <div>First paragraph</div> <div><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:&quot;Arial&quot;,sans-serif">The Saudia Group signed new partnerships during the Future Aviation Forum.</span></span></span></p> </div> </div> <div> <div>Regions</div> <div> <div><a href="/middle-east-and-north-africa" hreflang="en">Middle East and North Africa</a></div> </div> </div> <div> <div>Other topics</div> <div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> </div> </div> <div> <div>Rate</div> <div><form class="fivestar-form-1" id="vote" data-drupal-selector="fivestar-form-1" action="/taxonomy/term/11/feed" method="post" accept-charset="UTF-8"> <div class="clearfix fivestar-average-text fivestar-average-stars fivestar-form-item fivestar-basic"><div class="js-form-item form-item js-form-type-fivestar form-item-vote js-form-item-vote form-no-label"> <div class="js-form-item form-item js-form-type-select form-item-vote js-form-item-vote form-no-label"> <select class="vote form-select" data-drupal-selector="edit-vote" aria-describedby="edit-vote--2--description" id="edit-vote--2" name="vote"><option value="-">Select rating</option><option value="20">Give it 1/5</option><option value="40">Give it 2/5</option><option value="60">Give it 3/5</option><option value="80">Give it 4/5</option><option value="100">Give it 5/5</option><option value="0">Cancel rating</option></select> <div id="edit-vote--2--description" class="description"> <div class="fivestar-summary fivestar-summary-average-count"><span class="empty">No votes yet</span></div> </div> </div> </div> </div><input style="display:none" data-drupal-selector="edit-submit" type="submit" id="edit-submit" name="op" value="Rate" class="button js-form-submit form-submit" /> <input autocomplete="off" data-drupal-selector="form-af0jbwqfhp10ieuxiamgslzxmcl7m2kxpeuqkeuv0wm" type="hidden" name="form_build_id" value="form-aF0jbWQfhP10IEuXIamgSlzXmcl7m2KxpEuqkeUv0wM" /> <input data-drupal-selector="edit-fivestar-form-1" type="hidden" name="form_id" value="fivestar_form_1" /> </form> </div> </div> <div> <div>Top story</div> <div>Off</div> </div> <div> <div>Article main topic</div> <div><a href="/events" hreflang="en">Events</a></div> </div> <div> <div>Redirected</div> <div>Off</div> </div> <div> <div>Moved to features</div> <div>Off</div> </div> <div> <div>Lead image:</div> <div> <img property="schema:image" src="/sites/aerospace/times/files/2022-05/Saudia_0.jpg" width="1280" height="720" alt="" loading="lazy" typeof="foaf:Image" /> </div> </div> <div> <div>New batch</div> <div>Off</div> </div> Mon, 16 May 2022 08:34:19 +0000 eNethersole 64992 at http://www.timesaerospace.aero Emirates Group announces 2021-22 results http://www.timesaerospace.aero/news/business-and-finance/emirates-group-announces-2021-22-results <div property="schema:text"><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">dnata returns to profitability, and significant revenue improvements were reported across both Emirates and dnata as the Group rebuilt its air transport and travel-related operations which were previously cut-back or curtailed by the COVID-19 pandemic.</span></span><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">For the financial year ended 31 March 2022, the Emirates Group posted a loss of AED 3.8 billion (US$ 1.0 billion) compared with an AED 22.1 billion (US$ 6.0 billion) loss for last year. The Group’s revenue was AED 66.2 billion (US$ 18.1 billion), an increase of 86% over last year’s results. The Group’s cash balance was AED 25.8 billion (US$ 7.0 billion), up 30% from last year mainly due to strong demand across its core business divisions and markets, triggered by the easing of pandemic-related restrictions.&nbsp; </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said: "This year, we focussed on restoring our operations quickly and safely wherever pandemic-related restrictions eased across our markets. Business recovery picked up pace particularly in the second half of the year. Robust customer demand drove a huge improvement in our financial performance compared to our unprecedented losses of last year and we built up our strong cash balance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">"The health and safety of our people and customers remained a key priority as the world navigated its second full year of the pandemic. Across Emirates and dnata, we responded to dynamic market conditions with agility, and introduced innovative products and services to meet our customers’ needs and provide them with the best possible experience.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">"2021-22 was also a significant year as the UAE marked its 50th anniversary and hosted the world at Expo 2020 Dubai which generated increased global engagement and visitation to the UAE. The Emirates Group was proud to play our part in contributing to the Expo’s success and to the UAE’s jubilee events."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">In 2021-22, Emirates received a further capital injection of AED 3.5 billion (US$ 954 million) from our ultimate shareholder, the Government of Dubai, and the Group tapped on various industry support programmes and availed a total relief of nearly AED 0.8 billion in 2021-22.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">As Emirates and dnata ramped up operations, employees previously on furlough or made redundant were recalled and rehired, and new recruitment drives were held to replenish the Group’s talent pool and boost its future capabilities. As a result, the Group’s total workforce increased by 13% to 85,219 employees, representing over 160 different nationalities.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">In 2021-22, the Group collectively invested AED 7.9 billion (US$ 2.2 billion) in new aircraft and facilities, and the latest technologies to position the business for recovery and future growth. It also continued to progress its environmental strategy focussed on reducing carbon emissions, consuming resources responsibly, and conserving wildlife and habitats. During the year, the Group supported community, humanitarian and philanthropic initiatives in its various markets, as well as innovation incubators, and other programmes that nurture future solutions for industry growth.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Sheikh Ahmed said: "For the Emirates Group, 2021-22 was largely about recovery, after the toughest year in our Group’s history. It’s not just about restoring our capacity, but also augmenting our future capabilities as we rebuild. Our aim is to build back better and stronger, so that we can deliver even better experiences to our customers and offer more support to the communities we serve.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">"We expect the Group to return to profitability in 2022-23, and are working hard to hit our targets, while keeping a close watch on headwinds such as high fuel prices, inflation, new COVID-19 variants, and political and economic uncertainty</span></span><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">"Our steady investments in infrastructure, technology, people, and partnerships, will continue to give us the ability and advantage in delivering industry-leading products and value to our customers. As Dubai and the UAE move ahead with its strategy for the next 50 years and beyond, the Emirates Group is well positioned to play our role in contributing to economic growth, facilitating global engagement, and making a positive impact on people and communities."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates performance</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates’ total passenger and cargo capacity increased by 47% to 36.4 billion ATKMs in 2021-22, as the airline continued to reinstate passenger services across its network in line with the lifting of pandemic-related flight and travel restrictions. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">From 120 destinations at the start of the financial year, to increased operations and capacity growth across over 140 destinations by 31 March 2022, Emirates was able to respond dynamically to serve customer demand wherever opportunities arose, thanks to the resilience of its people and business model. In July, the airline launched a new route to Miami, bringing its total passenger gateways in the US to 12.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">To serve the strong rebound in travel demand, Emirates deployed its flagship A380 aircraft to even more cities during the year, bringing its A380 network to 29 destinations as of 31 March 2022.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Helping travellers access even more destinations, in 2021-22, Emirates reinforced its strategic partnerships with Qantas and flydubai, and expanded its interline and codeshare partnerships across Europe, the Americas, Africa and Asia including with: Aeromar, airBaltic, Airlink, Azul, Cemair, Garuda Indonesia, Gulf Air, Maldivian, South African Airways and TAP Air Portugal. Emirates also signed agreements and launched initiatives with tourism partners in various destinations to support travel and tourism recovery.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates received its final five new A380 aircraft during the financial year, all equipped with its latest cabin interiors including Premium Economy seats. It also phased out 2 older aircraft comprising of 1 Boeing 777-300ER and 1 Freighter, leaving its total fleet count at 262 at the end of March. Emirates’ average fleet age remains at a youthful 8.2 years. </span></span><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates’ order book of 197 aircraft remains unchanged at this time. The airline is firmly committed to its long-standing strategy of operating a modern and efficient fleet, which underscores its "Fly Better" brand promise, as young aircraft are better for the environment, better for operations, and better for customers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">With significantly enhanced capacity deployment across most markets, Emirates’ total revenue for the financial year increased 91% to AED 59.2 billion (US$ 16.1 billion). Currency fluctuations this year impacted the airline’s profitability negatively by AED 348 million (US$ 95 million).</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Total operating costs increased by 30% from last financial year. Cost of ownership (depreciation and amortisation) and fuel cost were the two biggest cost components for the airline in 2021-22, followed by employee cost. Fuel accounted for 23% of operating costs compared to 14% in 2020-21. The airline’s fuel bill more than doubled to AED 13.9 billion (US$ 3.8 billion) compared to the previous year, driven by a higher uplift of 66% in line with capacity expansion and a higher average fuel price which was up by 75%.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">With the removal of pandemic-related flight and travel restrictions globally, the airline managed to substantially improve its financial results and reported a loss of AED 3.9 billion (US$ 1.1 billion) after last year’s AED 20.3 billion (US$ 5.5 billion) loss, and a loss margin of 6.6%, significantly improved compared to 65.6% last year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates carried 19.6 million passengers (up by 199%) in 2021-22, with seat capacity up by 150%. The airline reports a Passenger Seat Factor of 58.6%, compared with last year’s passenger seat factor of 44.3%; and a 10% decline in passenger yield to 35.1 fils (9.6 US cents) per Revenue Passenger Kilometre (RPKM), due to the change in route mix, fares and currency. Seat load factor and yield results cannot be compared against the previous year’s performance due to the ongoing unusual pandemic situation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates continued to invest in its products and services to deliver ever better customer experiences. This year, it announced a major retrofit programme to equip 120 of its 777 and A380 aircraft with its new Premium Economy seats and the latest cabin interiors.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">It also accelerated digital initiatives to provide customers with smoother and safer journeys, from the quick and secure verification of COVID-19 travel documents, to more biometrics and contactless touchpoints at its Dubai hub.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates continued to lead the industry with initiatives that provide customer assurance as travel restrictions eased and more people made travel plans. It extended its generous rebooking waivers and complimentary COVID-19 medical cover for all customers; and introduced new ways for Emirates Skywards members to earn Miles while extending the expiry of miles and tier status. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">In this 2nd pandemic year, Emirates SkyCargo once again put in a stellar performance and contributed to 40% of the airline’s total transport revenue through its ability to respond rapidly to changing demand patterns in a distorted global marketplace.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates SkyCargo maintained its edge in the global airfreight industry by focusing its customers, bringing innovative solutions to the market, and leveraging its fleet and network capabilities</span></span><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Rebuilding its network and capacity, the cargo division intelligently deployed its freighter fleet and belly-hold capacity, to meet customer needs. By 30 June 2021, it had restored services to over 90% of its pre-pandemic network.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">During the year, Emirates SkyCargo continued to play an important role in getting COVID-19 vaccines and other medical supplies to communities around the world, and keeping trade lanes open for food supplies, e-commerce and other essential goods. In June 2021, it invested to scale up its pharma cool chain infrastructure in Dubai and by March 2022, Emirates SkyCargo had transported 1 billion doses of COVID-19 vaccines.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">At the Dubai Airshow 2021, Emirates announced a US$ 1 billion investment to acquire 2 new Boeing 777 freighters and convert 4 existing 777-300ER aircraft into freighters.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">With steady and strong air freight demand throughout the year, Emirates’ cargo division reported a new record revenue of AED 21.7 billion (US$ 5.9 billion), an increase of 27% over last year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Freight yield per Freight Tonne Kilometre (FTKM) decreased by 3% as more cargo capacity returned to the global market, but generally remained at high levels compared to the pandemic marketplace due to steady and strong demand.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Tonnage carried increased by 14% to reach 2.1 million tonnes, due to the growth in available bellyhold capacity for the entire year with the reinstatement of more passenger services. At the end of 2021-22, Emirates’ SkyCargo’s total freighter fleet stood at 10 Boeing 777Fs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates’ hotels portfolio doubled revenue over last year to AED 602 million (US$ 164 million) as it re-opened more facilities to serve the upswing in tourism traffic and the gradual recovery of the meetings and conferences industry.&nbsp;&nbsp; </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">During the year, Emirates successfully restructured and extended various aircraft leases. The support from aviation lessors and financing partners during these challenging times reflect the financial community’s confidence in Emirates’ business model, and its mid to longer term prospects.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">In addition to the AED 9.7 billion (US$ 2.6 billion) financing that was raised for aircraft and general corporate purposes in 2021-22, Emirates has already received committed offers to finance two aircraft deliveries due in 2022-23.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates closed the financial year with solid cash assets of AED 20.9 billion (US$ 5.7 billion), 38% higher compared to 31 March 2021.&nbsp;&nbsp; </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">dnata performance</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Recovery from the pandemic was felt across all dnata businesses, and in 2021-22 dnata returned to profitability with a profit of AED 110 million (US$ 30 million).</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">With growing flight and travel activity across the world, dnata's total revenue increased by 54% to AED 8.6 billion (US$ 2.3 billion). dnata’s international business accounts for 62% of its revenue.&nbsp; </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">dnata continued to lay the foundations for future growth with investments in 2021-22 amounting to AED 370 million (US$ 101 million).</span></span><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">During the year, dnata invested significantly in its cargo handling capabilities. It expanded existing facilities in Sydney, Australia; opened a state-of-the-art cargo centre at London Heathrow airport; and announced a fully automated cargo centre to be built at ‘dnata Cargo City’ at Amsterdam Schiphol Airport. It also introduced an advanced "OneCargo" system which digitises and automates business and operational functions at its Iraq cargo operations, with plans to roll out the system across its global cargo network.</span></span><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">In 2021-22, dnata’s operating costs increased by 14% to AED 8.4 billion (US$ 2.3 billion), in line with expanded operations in its Airport Operations, Catering and Travel divisions across the world.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">dnata’s cash balance improved by AED 208 million to AED 4.9 billion (US$ 1.3 billion). Net cash used in financing activities, primarily payments for loans and leases, amounted to AED 745 million (US$ 203 million), while the business utilised net cash of AED 246 million (US$ 67 million) in essential investing activities. The business saw a positive operating cash flow of AED 1.2 billion (US$ 332 million) in 2021-22, a reflection of the substantial improvements in revenues.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Revenue from dnata’s Airport Operations, including ground and cargo handling increased to AED 5.7 billion (US$ 1.6 billion).</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">The number of aircraft turns handled by dnata globally grew by 82% to 527,501, cargo handled increased by 10% to 3.0 million tonnes, reflecting the increase in flight activity across the globe as dnata’s customers re-started their operations wherever market restrictions on flights and travel were lifted.</span></span><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">During 2021-22, dnata expanded its global airport operations footprint into Africa. It signed a concession agreement with The Government of Zanzibar, where dnata will oversee the operations of the island’s newly-built international terminal with its partners, including Emirates Leisure Retail (ELR) who will partner with MMI as master concessionaire for all food and beverage, duty free and commercial outlets at the terminal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">marhaba, dnata’s airport hospitality brand, marked its 30th year of operations with the launch of its signature meet and greet services at four of Australia’s major airports, a new lounge in Zurich Airport, and a re-designed experience at its flagship lounge at Dubai International.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">dnata’s Catering business accounted for AED 1.7 billion (US$ 455 million) of dnata’s revenue, up by 60%. The inflight catering business uplifted 39.9 million meals to airline customers, more than double the number of meals from last year, as its airline customers across the world restored their flight operations.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Significant customer wins during the year include BA CityFlyer, which led to dnata Catering launching operations at London City Airport; and the global inflight retail services contract for easyJet where dnata’s team of inflight retail experts will develop and manage bespoke onboard retail programmes and solutions for the airline.</span></span><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">It also saw significant activity in Australia. As the country re-opened its borders to international travellers, dnata worked closely with airline customers to support their resumption of flight operations. dnata Catering also continued to grow its retail food business with ready-made meals developed by Snapfresh Australia launched in Aldi and Costco stores nationwide.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Revenue from dnata’s Travel Services division has significantly grown by 434% to AED 694 million (US$ 189 million). The reported total transaction value (TTV) of travel services sold increased by 912% to AED 2.3 billion (US$ 632 million), a dramatic reversal from last year. These increases reflect last year’s abnormal situation where the business saw high levels of COVID-19-related booking cancellations.</span></span></p> </div> <div> <div>Posted date</div> <div><time datetime="2022-05-13T12:00:00Z">Fri, 13/05/2022 - 12:00</time> </div> </div> <div> <div>First paragraph</div> <div><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">The Emirates Group has released its 2021-22 Annual Report which shows strong recovery across its businesses. </span></span></p> </div> </div> <div> <div>Regions</div> <div> <div><a href="/middle-east-and-north-africa" hreflang="en">Middle East and North Africa</a></div> </div> </div> <div> <div>Other topics</div> <div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> </div> </div> <div> <div>Rate</div> <div><form class="fivestar-form-2" id="vote--2" data-drupal-selector="fivestar-form-2" action="/taxonomy/term/11/feed" method="post" accept-charset="UTF-8"> <div class="clearfix fivestar-average-text fivestar-average-stars fivestar-form-item fivestar-basic"><div class="js-form-item form-item js-form-type-fivestar form-item-vote js-form-item-vote form-no-label"> <div class="js-form-item form-item js-form-type-select form-item-vote js-form-item-vote form-no-label"> <select class="vote form-select" data-drupal-selector="edit-vote" aria-describedby="edit-vote--4--description" id="edit-vote--4" name="vote"><option value="-">Select rating</option><option value="20">Give it 1/5</option><option value="40">Give it 2/5</option><option value="60">Give it 3/5</option><option value="80">Give it 4/5</option><option value="100">Give it 5/5</option><option value="0">Cancel rating</option></select> <div id="edit-vote--4--description" class="description"> <div class="fivestar-summary fivestar-summary-average-count"><span class="empty">No votes yet</span></div> </div> </div> </div> </div><input style="display:none" data-drupal-selector="edit-submit" type="submit" id="edit-submit--2" name="op" value="Rate" class="button js-form-submit form-submit" /> <input autocomplete="off" data-drupal-selector="form-kfsthi-gyzfjmhtligkrhvz-jig18ylnha-hwb54kiw" type="hidden" name="form_build_id" value="form-kfSthI-GyZfjmHtliGkRhvz_JIG18YLNhA-HWB54kIw" /> <input data-drupal-selector="edit-fivestar-form-2" type="hidden" name="form_id" value="fivestar_form_2" /> </form> </div> </div> <div> <div>Top story</div> <div>On</div> </div> <div> <div>Article main topic</div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> </div> <div> <div>Redirected</div> <div>Off</div> </div> <div> <div>Moved to features</div> <div>Off</div> </div> <div> <div>Lead image:</div> <div> <img property="schema:image" src="/sites/aerospace/times/files/2022-05/Emirates%20777_0.jpg" width="1800" height="1200" alt="" loading="lazy" typeof="foaf:Image" /> </div> </div> <div> <div>New batch</div> <div>Off</div> </div> Fri, 13 May 2022 09:41:30 +0000 eNethersole 64984 at http://www.timesaerospace.aero Emirates signs MoU with Jafza exploring joint activities http://www.timesaerospace.aero/news/business-and-finance/emirates-signs-mou-with-jafza-exploring-joint-activities <div property="schema:text"><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">This will be done by supporting new and existing businesses registered or licensed in the free zone.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Under the MoU, both parties will explore opportunities to offer a number of travel-related incentives for new and existing SMEs and larger businesses, including potential enrolment in the airline’s Business Rewards programme.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Adnan Kazim, chief commercial officer for Emirates Airline, said: “We are pleased to partner with Jafza to support Dubai’s efforts in cementing its leadership position as one of the world’s preferred investment destinations. Dubai’s vibrant business environment continues to gain momentum in attracting new companies and foreign firms, start-ups and talented entrepreneurs across a wide range of industries. Emirates has been a long-standing supporter of a number of initiatives targeted to support SMEs and innovative start-ups in our home base the UAE, and today’s signing with Jafza reinforces our commitment to help stimulate diverse economic activity in Dubai by providing companies with a range of highly competitive travel incentives so they can scale up their businesses both regionally and globally.” </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Ahmad Al Haddad, chief operating officer, Parks and Zones, DP World UAE said: "Since its inception, Dubai has built a reputation as a global business ecosystem. It is a magnet for entrepreneurs and investors worldwide owing to the strategic support of the government and private sector, which has led to an SME boom in the emirate. Today, they make up nearly 95 per cent of all companies, employing 42 per cent of the workforce and contributing around 40 per cent to Dubai's GDP. Our partnership with Emirates focuses on boosting growth with new travel offerings to attract global investors and venture capitalists who can utilise the vast opportunities available here. We are committed to our role as the economic driver for Dubai, building on our 33.4 per cent contribution to the emirate's GDP."</span></span></p> </div> <div> <div>Posted date</div> <div><time datetime="2022-05-12T12:00:00Z">Thu, 12/05/2022 - 12:00</time> </div> </div> <div> <div>First paragraph</div> <div><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Emirates and Jebel Ali Free Zone (Jafza), have signed an MoU to explore joint cooperation and initiatives targeted at attracting more investments into Dubai.</span></span></p> </div> </div> <div> <div>Regions</div> <div> <div><a href="/middle-east-and-north-africa" hreflang="en">Middle East and North Africa</a></div> </div> </div> <div> <div>Other topics</div> <div> <div><a href="/airports" hreflang="en">Airports</a></div> </div> </div> <div> <div>Rate</div> <div><form class="fivestar-form-3" id="vote--3" data-drupal-selector="fivestar-form-3" action="/taxonomy/term/11/feed" method="post" accept-charset="UTF-8"> <div class="clearfix fivestar-average-text fivestar-average-stars fivestar-form-item fivestar-basic"><div class="js-form-item form-item js-form-type-fivestar form-item-vote js-form-item-vote form-no-label"> <div class="js-form-item form-item js-form-type-select form-item-vote js-form-item-vote form-no-label"> <select class="vote form-select" data-drupal-selector="edit-vote" aria-describedby="edit-vote--6--description" id="edit-vote--6" name="vote"><option value="-">Select rating</option><option value="20">Give it 1/5</option><option value="40">Give it 2/5</option><option value="60">Give it 3/5</option><option value="80">Give it 4/5</option><option value="100">Give it 5/5</option><option value="0">Cancel rating</option></select> <div id="edit-vote--6--description" class="description"> <div class="fivestar-summary fivestar-summary-average-count"><span class="empty">No votes yet</span></div> </div> </div> </div> </div><input style="display:none" data-drupal-selector="edit-submit" type="submit" id="edit-submit--3" name="op" value="Rate" class="button js-form-submit form-submit" /> <input autocomplete="off" data-drupal-selector="form-aoirg3ljcndcymdo-hxg1lchbe-lpz3jmcx9anmmo0c" type="hidden" name="form_build_id" value="form-aoirg3lJCNdcYmdO_hXG1lchbe_LPZ3JmCx9aNMmO0c" /> <input data-drupal-selector="edit-fivestar-form-3" type="hidden" name="form_id" value="fivestar_form_3" /> </form> </div> </div> <div> <div>Top story</div> <div>On</div> </div> <div> <div>Article main topic</div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> </div> <div> <div>Redirected</div> <div>Off</div> </div> <div> <div>Moved to features</div> <div>Off</div> </div> <div> <div>Lead image:</div> <div> <img property="schema:image" src="/sites/aerospace/times/files/2022-05/dsc-1995.jpg" width="4000" height="2921" alt="" loading="lazy" typeof="foaf:Image" /> </div> </div> <div> <div>New batch</div> <div>Off</div> </div> Thu, 12 May 2022 06:22:51 +0000 eNethersole 64978 at http://www.timesaerospace.aero Cape Verde airports to get modernisation boost from Vinci http://www.timesaerospace.aero/news/airports/cape-verde-airports-to-get-modernisation-boost-from-vinci <div property="schema:text"><p>&nbsp;<span style="font-size:medium"><span style="font-family:Calibri, sans-serif"><span style="color:#000000"><span style="font-style:normal"><span style="font-weight:400"><span style="white-space:normal"><span style="text-decoration:none"><span style="font-size:13.5pt"><span style="color:black">The Cape Verde government has signed a contract with French operator Vinci and awarded a public airport service concession.</span></span></span></span></span></span></span></span></span></p> <p style="text-align:start"><span style="font-size:medium"><span style="font-family:Calibri, sans-serif"><span style="color:#000000"><span style="font-style:normal"><span style="font-weight:400"><span style="white-space:normal"><span style="text-decoration:none"><span style="font-size:13.5pt"><span style="color:black">The deal includes concessions at Amílcar Cabral International Airport, on the island of Sal, at Praia International Airport – Nelson Mandela, on the island of Santiago, at Cesária Évora International Airport, on São Vicente Island, at Aristides Pereira International Airport, on Boa Vista Island, at Preguiça Airport, on São Nicolau Island, at Maio Airport and at São Filipe Airport, on Fogo Island</span></span></span></span></span></span></span></span></span></p> <p style="text-align:start"><span style="font-size:medium"><span style="font-family:Calibri, sans-serif"><span style="color:#000000"><span style="font-style:normal"><span style="font-weight:400"><span style="white-space:normal"><span style="text-decoration:none"><span style="font-size:13.5pt"><span style="color:black">As part of the implementation Vinci will establish a local company in partnership with Aeroportos Portugal which will hold 30% of the shares.</span></span></span></span></span></span></span></span></span></p> <p style="text-align:start"><span style="font-size:medium"><span style="font-family:Calibri, sans-serif"><span style="color:#000000"><span style="font-style:normal"><span style="font-weight:400"><span style="white-space:normal"><span style="text-decoration:none"><span style="font-size:13.5pt"><span style="color:black">According to the government the new company will take responsibility for the modernisation of the airport infrastructure with a goal to improve connectivity and the profitability of the airport. The airport company across Cape Verde is said to have lost has lost a cumulative €27 million ($28.5m) over the past two years.</span></span></span></span></span></span></span></span></span></p> </div> <div> <div>Posted date</div> <div><time datetime="2022-05-11T12:00:00Z">Wed, 11/05/2022 - 12:00</time> </div> </div> <div> <div>Short title</div> <div>Cape Verde airports to get modernisation boost from Vinci</div> </div> <div> <div>Short summary</div> <div><p>Cape Verde has contracted French airports management company Vinci to bring its airports in line for post-Covid revival</p> </div> </div> <div> <div>First paragraph</div> <div><p><span style="font-size:medium"><span style="font-family:Calibri, sans-serif"><span style="color:#000000"><span style="font-style:normal"><span style="font-weight:400"><span style="white-space:normal"><span style="text-decoration:none"><span style="font-size:13.5pt"><span style="color:black">Cape Verde is preparing an infrastructure boost as part of its post-pandemic plans to air transport recovery with modernisation plans for its international airport, and for improvements across the country’s secondary island airports.</span></span></span></span></span></span></span></span></span></p> </div> </div> <div> <div>Regions</div> <div> <div><a href="/africa" hreflang="en">Africa</a></div> </div> </div> <div> <div>Other topics</div> <div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> <div><a href="/route-planning-and-tourism" hreflang="en">Route planning and tourism</a></div> </div> </div> <div> <div>Rate</div> <div><form class="fivestar-form-4" id="vote--4" data-drupal-selector="fivestar-form-4" action="/taxonomy/term/11/feed" method="post" accept-charset="UTF-8"> <div class="clearfix fivestar-average-text fivestar-average-stars fivestar-form-item fivestar-basic"><div class="js-form-item form-item js-form-type-fivestar form-item-vote js-form-item-vote form-no-label"> <div class="js-form-item form-item js-form-type-select form-item-vote js-form-item-vote form-no-label"> <select class="vote form-select" data-drupal-selector="edit-vote" aria-describedby="edit-vote--8--description" id="edit-vote--8" name="vote"><option value="-">Select rating</option><option value="20">Give it 1/5</option><option value="40">Give it 2/5</option><option value="60">Give it 3/5</option><option value="80">Give it 4/5</option><option value="100">Give it 5/5</option><option value="0">Cancel rating</option></select> <div id="edit-vote--8--description" class="description"> <div class="fivestar-summary fivestar-summary-average-count"><span class="empty">No votes yet</span></div> </div> </div> </div> </div><input style="display:none" data-drupal-selector="edit-submit" type="submit" id="edit-submit--4" name="op" value="Rate" class="button js-form-submit form-submit" /> <input autocomplete="off" data-drupal-selector="form-ydftmf-hacylcp8huhrfsypvnybddfj0pljhh6wfqr0" type="hidden" name="form_build_id" value="form-yDftMf_HAcYLcp8HuhRfSYPvnyBDDfJ0plJHH6Wfqr0" /> <input data-drupal-selector="edit-fivestar-form-4" type="hidden" name="form_id" value="fivestar_form_4" /> </form> </div> </div> <div> <div>Top story</div> <div>Off</div> </div> <div> <div>Article main topic</div> <div><a href="/airports" hreflang="en">Airports</a></div> </div> <div> <div>Redirected</div> <div>Off</div> </div> <div> <div>Moved to features</div> <div>Off</div> </div> <div> <div>Lead image:</div> <div> <img property="schema:image" src="/sites/aerospace/times/files/2022-05/Amalcar%20CapeVerde.jpg" width="1024" height="698" alt="" loading="lazy" typeof="foaf:Image" /> </div> </div> <div> <div>New batch</div> <div>Off</div> </div> Wed, 11 May 2022 09:09:59 +0000 aPeaford 64965 at http://www.timesaerospace.aero ATM: New ideas, technology and inclusivity to drive Middle East tourism sector http://www.timesaerospace.aero/news/events/atm-new-ideas-technology-and-inclusivity-to-drive-middle-east-tourism-sector <div property="schema:text"><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">As tourism destinations in the Middle East are widening their appeal and extending their offerings to attract FDI, ministers discussed the importance of investing in new ideas, technology and driving Middle East tourism.</span></span></p> <p>&nbsp;</p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Shedding light on the Middle East and the UAE as a financial hub for future worldwide tourism investment, Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs &amp; Chairman of Emirates Tourism Council of the UAE; said: “For the UAE hospitality accommodation sector, investment in rooms and keys remains a primary focus as evidenced by a 5% growth in the number of rooms compared to 2019 levels, with a variation of service levels and accommodation type. However, while the big-ticket FDI will continue to grow in terms of rooms, from the service side, we see a lot of venture capital deployed on technological solutions for tourism. As the customer demand for elevated tourism experiences continues to evolve, we see technology as an important investment area in the future. So, while recovery is going well, we need to be mindful of being equitable in our recovery to ensure that the whole ecosystem benefits.”</span></span></p> <p>&nbsp;</p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">According to recent forecasts, the total contribution of the travel and tourism industry to the GDP of Middle East countries is expected to reach around US$ 486.1 billion by 2028. Governments across the region are attracting hefty investments in their tourism industry, with Bahrain attracting US$ 492 million of tourism capital investment in 2020, for example, and the Kingdom of Saudi Arabia earmarking US$ 1 trillion to its travel and tourism sector through to 2030. </span></span></p> <p>&nbsp;</p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">The audience heard from Jordan’s Minister of Tourism and Antiquities, Nayef Al Fayez, who discussed the continued investment in the country’s SME and start-up ecosystem to ensure that not it not only survived the pandemic but that it continued to thrive with women, youth and local communities empowered as a vital pillar of Jordan’s tourism industry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Similarly, Edmund Bartlett, Minister of Tourism, Jamaica, described how investment in knowledge development and new ideas is a vast new dimension to enable innovation in the country’s travel and tourism sector. Tourism investments will have to change to bridge the supply disruption gaps and build back the capacity of tourism to be the driver of economic growth and development.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Discussing the outlook for tourism in post-pandemic Botswana, Philda Nani Kereng, Minister of Environment, Natural Resources Conservation and Tourism, explained: “In investing in the tourism sector, we want to meet the needs of the tourist that emerges out of COVID-19 by developing a new diversified tourism product. This is a tourist that wants new experiences, to heal from the lockdown and to engage with the local culture and biodiversity of the destination.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Danielle Curtis, exhibition director ME, Arabian Travel Market added: “ATM’s strategy is to support the industry with a summit that acts as a platform for tourism ministers, policymakers, industry leaders and investors to discuss topical issues, challenges and future trends in the sustainable development of tourism and travel throughout the region.” </span></span></p> </div> <div> <div>Posted date</div> <div><time datetime="2022-05-11T12:00:00Z">Wed, 11/05/2022 - 12:00</time> </div> </div> <div> <div>First paragraph</div> <div><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Global ministers of tourism joined together at the 2022 Middle East Tourism Investment Summit during the Arabian Travel Market.</span></span></p> </div> </div> <div> <div>Regions</div> <div> <div><a href="/middle-east-and-north-africa" hreflang="en">Middle East and North Africa</a></div> </div> </div> <div> <div>Other topics</div> <div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> <div><a href="/route-planning-and-tourism" hreflang="en">Route planning and tourism</a></div> <div><a href="/technology" hreflang="en">Technology</a></div> </div> </div> <div> <div>Rate</div> <div><form class="fivestar-form-5" id="vote--5" data-drupal-selector="fivestar-form-5" action="/taxonomy/term/11/feed" method="post" accept-charset="UTF-8"> <div class="clearfix fivestar-average-text fivestar-average-stars fivestar-form-item fivestar-basic"><div class="js-form-item form-item js-form-type-fivestar form-item-vote js-form-item-vote form-no-label"> <div class="js-form-item form-item js-form-type-select form-item-vote js-form-item-vote form-no-label"> <select class="vote form-select" data-drupal-selector="edit-vote" aria-describedby="edit-vote--10--description" id="edit-vote--10" name="vote"><option value="-">Select rating</option><option value="20">Give it 1/5</option><option value="40">Give it 2/5</option><option value="60">Give it 3/5</option><option value="80">Give it 4/5</option><option value="100">Give it 5/5</option><option value="0">Cancel rating</option></select> <div id="edit-vote--10--description" class="description"> <div class="fivestar-summary fivestar-summary-average-count"><span class="empty">No votes yet</span></div> </div> </div> </div> </div><input style="display:none" data-drupal-selector="edit-submit" type="submit" id="edit-submit--5" name="op" value="Rate" class="button js-form-submit form-submit" /> <input autocomplete="off" data-drupal-selector="form-0rs51xrlh8kakmdij28en-2-m9v1ucqja9qavdlilwg" type="hidden" name="form_build_id" value="form-0rS51XRLH8kAKmDIJ28EN-2_M9v1ucQJA9QAvdliLWg" /> <input data-drupal-selector="edit-fivestar-form-5" type="hidden" name="form_id" value="fivestar_form_5" /> </form> </div> </div> <div> <div>Top story</div> <div>Off</div> </div> <div> <div>Article main topic</div> <div><a href="/events" hreflang="en">Events</a></div> </div> <div> <div>Redirected</div> <div>Off</div> </div> <div> <div>Moved to features</div> <div>Off</div> </div> <div> <div>Lead image:</div> <div> <img property="schema:image" src="/sites/aerospace/times/files/2022-05/itic-atm-ministerial-roundtable.jpg" width="1000" height="662" alt="" loading="lazy" typeof="foaf:Image" /> </div> </div> <div> <div>New batch</div> <div>Off</div> </div> Tue, 10 May 2022 13:57:01 +0000 eNethersole 64960 at http://www.timesaerospace.aero ATM: Saudia launch new B2B travel management solution http://www.timesaerospace.aero/news/events/atm-saudia-launch-new-b2b-travel-management-solution <div property="schema:text"><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Saudia Business provides unique solutions for each travel requirement for a diverse range of beneficiaries, including corporations, travel agencies, and event organisers. The new account management department will streamline the booking process and support corporate travel through a seamless online platform with multiple functions and tools to serve Saudia’s business clients from A to Z.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">It will have a dedicated meetings and events team that assists with specific corporate travel needs and event organisation worldwide. The new division will serve and support clients with busy schedules who frequently go on business trips, whether for meetings, incentive travel, conventions, or exhibitions (MICE). </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Hazem Sonbol, vice president of sales at Saudia, said, “This is not just a new service department; it is an extension to the Saudia brand, a show of dedication to pursuing excellence. Saudia Business respects our guests’ time and understands the corporate standard with a service that will live up to it. We are looking forward to serving our business partners and taking care of their travel needs through Saudia Business.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Catering to corporate clients with custom solutions, Saudia Business will be offering new incentives exclusively for corporate clients through Saudia Business Loyalty. The rewards programme that allows for the redemption of points with every booking and spend.</span></span></p> </div> <div> <div>Posted date</div> <div><time datetime="2022-05-10T12:00:00Z">Tue, 10/05/2022 - 12:00</time> </div> </div> <div> <div>First paragraph</div> <div><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Saudi Arabian Airlines (Saudia) has launched a new rebranded business division for the airline; Saudia Business, specialising in B2B travel solutions for Corporate, Agency &amp; MICE clients.</span></span></p> </div> </div> <div> <div>Regions</div> <div> <div><a href="/middle-east-and-north-africa" hreflang="en">Middle East and North Africa</a></div> </div> </div> <div> <div>Other topics</div> <div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> <div><a href="/route-planning-and-tourism" hreflang="en">Route planning and tourism</a></div> <div><a href="/technology" hreflang="en">Technology</a></div> </div> </div> <div> <div>Rate</div> <div><form class="fivestar-form-6" id="vote--6" data-drupal-selector="fivestar-form-6" action="/taxonomy/term/11/feed" method="post" accept-charset="UTF-8"> <div class="clearfix fivestar-average-text fivestar-average-stars fivestar-form-item fivestar-basic"><div class="js-form-item form-item js-form-type-fivestar form-item-vote js-form-item-vote form-no-label"> <div class="js-form-item form-item js-form-type-select form-item-vote js-form-item-vote form-no-label"> <select class="vote form-select" data-drupal-selector="edit-vote" aria-describedby="edit-vote--12--description" id="edit-vote--12" name="vote"><option value="-">Select rating</option><option value="20">Give it 1/5</option><option value="40">Give it 2/5</option><option value="60">Give it 3/5</option><option value="80">Give it 4/5</option><option value="100">Give it 5/5</option><option value="0">Cancel rating</option></select> <div id="edit-vote--12--description" class="description"> <div class="fivestar-summary fivestar-summary-average-count"><span class="empty">No votes yet</span></div> </div> </div> </div> </div><input style="display:none" data-drupal-selector="edit-submit" type="submit" id="edit-submit--6" name="op" value="Rate" class="button js-form-submit form-submit" /> <input autocomplete="off" data-drupal-selector="form-wafubronn2rbka6jenjrjfpwshnckclsxylnmspesk0" type="hidden" name="form_build_id" value="form-wafUBROnn2rBka6JeNJRJFPwShnCkcLSXYlNmsPESK0" /> <input data-drupal-selector="edit-fivestar-form-6" type="hidden" name="form_id" value="fivestar_form_6" /> </form> </div> </div> <div> <div>Top story</div> <div>Off</div> </div> <div> <div>Article main topic</div> <div><a href="/events" hreflang="en">Events</a></div> </div> <div> <div>Redirected</div> <div>Off</div> </div> <div> <div>Moved to features</div> <div>Off</div> </div> <div> <div>Lead image:</div> <div> <img property="schema:image" src="/sites/aerospace/times/files/2022-05/saudia-business-launch-event-at-atm-2.jpg" width="1000" height="665" alt="" loading="lazy" typeof="foaf:Image" /> </div> </div> <div> <div>New batch</div> <div>Off</div> </div> Tue, 10 May 2022 07:41:22 +0000 eNethersole 64957 at http://www.timesaerospace.aero Flydubai records ‘exceptional performance’ in the Q1, 2022 http://www.timesaerospace.aero/news/business-and-finance/flydubai-records-exceptional-performance-in-the-q1-2022 <div property="schema:text"><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">The carrier’s growing network and added capacity on its existing routes have been supported by new aircraft deliveries since the start of the year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Ghaith Al Ghaith, chief executive officer at flydubai, said: “Dubai has demonstrated its ability to successfully overcome the various challenges presented by the pandemic and continues to thrive. We have continued our growth in 2022 capitalising on the tremendous results we reported for 2021. We have seen the number of passengers carried in the first quarter of this year more than double compared to the previous couple of years as we welcomed the world during Expo Dubai 2020, connected underserved markets to Dubai and added more frequencies around the network.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">“Our strong business model, supported by our ongoing recruitment drive to grow our workforce in parallel with the scheduled aircraft deliveries this year, will see that we are well placed to accommodate the surge in demand as more people get ready to travel again over the summer.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Q1 2022 performance</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">flydubai operated 19,000 flights between 01 January and 31 March 2022 and carried 2.35 million passengers. This represents a 114% increase in the number of passengers carried compared to 2021. In addition, flydubai has seen an increase in demand for connecting traffic with 43% of passengers connecting on to the carrier’s network compared to 28% for the same period last year. Demand for travel in Business Class continues to grow across the network, Europe saw an increase to 51% in 2022 up from 39% in 2021.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Aircraft deliveries</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">flydubai has taken delivery of four new aircraft this year, growing its fleet of Boeing 737s to 63 aircraft serving its growing network. The carrier will take delivery of 18 more aircraft over the next few months, for which financing mandates have been issued. To support this growth trajectory, flydubai is currently undergoing a recruitment drive to add more talented professionals to its workforce and this includes pilots, cabin crew and various positions across the business.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Growing network</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">flydubai has built an expanding network of more than 100 destinations in 50 countries across Africa, Central Asia, the Caucasus, Central and South-East Europe, the GCC and the Middle East, and the Indian Subcontinent, exceeding the number of destinations it operated to prior to the pandemic. The carrier relaunched flights to Yanbu (YNB) in Saudi Arabia in February and added AlUla (ULH) and Istanbul Sabiha Gökçen (SAW) to its growing network in March, and has also announced the start of flights to a number of new destinations including Pisa in Italy and Izmir in Turkey commencing this summer.</span></span></p> </div> <div> <div>Posted date</div> <div><time datetime="2022-05-08T12:00:00Z">Sun, 08/05/2022 - 12:00</time> </div> </div> <div> <div>First paragraph</div> <div><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Flydubai said it has recorded an exceptional performance in the First Quarter of 2022.</span></span></p> </div> </div> <div> <div>Regions</div> <div> <div><a href="/middle-east-and-north-africa" hreflang="en">Middle East and North Africa</a></div> </div> </div> <div> <div>Other topics</div> <div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> </div> </div> <div> <div>Rate</div> <div><form class="fivestar-form-7" id="vote--7" data-drupal-selector="fivestar-form-7" action="/taxonomy/term/11/feed" method="post" accept-charset="UTF-8"> <div class="clearfix fivestar-average-text fivestar-average-stars fivestar-form-item fivestar-basic"><div class="js-form-item form-item js-form-type-fivestar form-item-vote js-form-item-vote form-no-label"> <div class="js-form-item form-item js-form-type-select form-item-vote js-form-item-vote form-no-label"> <select class="vote form-select" data-drupal-selector="edit-vote" aria-describedby="edit-vote--14--description" id="edit-vote--14" name="vote"><option value="-">Select rating</option><option value="20">Give it 1/5</option><option value="40">Give it 2/5</option><option value="60">Give it 3/5</option><option value="80">Give it 4/5</option><option value="100">Give it 5/5</option><option value="0">Cancel rating</option></select> <div id="edit-vote--14--description" class="description"> <div class="fivestar-summary fivestar-summary-average-count"><span class="empty">No votes yet</span></div> </div> </div> </div> </div><input style="display:none" data-drupal-selector="edit-submit" type="submit" id="edit-submit--7" name="op" value="Rate" class="button js-form-submit form-submit" /> <input autocomplete="off" data-drupal-selector="form-dfr6efgyeqpodrhekf7yaqe635nz6djkd6o3-8d1dju" type="hidden" name="form_build_id" value="form-DfR6eFgyeQpODrhEkF7yAQE635nZ6DjKd6o3_8D1DjU" /> <input data-drupal-selector="edit-fivestar-form-7" type="hidden" name="form_id" value="fivestar_form_7" /> </form> </div> </div> <div> <div>Top story</div> <div>On</div> </div> <div> <div>Article main topic</div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> </div> <div> <div>Redirected</div> <div>Off</div> </div> <div> <div>Moved to features</div> <div>Off</div> </div> <div> <div>Lead image:</div> <div> <img property="schema:image" src="/sites/aerospace/times/files/2022-05/_S6A0213_RGB.jpg" width="2085" height="1390" alt="" loading="lazy" typeof="foaf:Image" /> </div> </div> <div> <div>New batch</div> <div>Off</div> </div> Sun, 08 May 2022 10:09:32 +0000 eNethersole 64937 at http://www.timesaerospace.aero Airbus reports consolidated financial results for its Q1 2022 http://www.timesaerospace.aero/news/business-and-finance/airbus-reports-consolidated-financial-results-for-its-q1-2022 <div property="schema:text"><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">“Our 2022 guidance is unchanged, even though the risk profile for the rest of the year has become more challenging due to the complex geopolitical and economic environment,” said Guillaume Faury, Airbus chief executive officer. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">“Looking beyond 2022, we see continuing strong growth in commercial aircraft demand driven by the A320 Family. As a result we are now working with our industry partners to increase A320 Family production rates further to 75 aircraft a month in 2025. This ramp-up will benefit the aerospace industry’s global value chain.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Gross commercial aircraft orders increased to 253 (Q1 2021: 39 aircraft) with net orders of 83 aircraft after cancellations (Q1 2021: -61 aircraft). The order backlog amounted to 7,023 commercial aircraft on 31 March 2022. Airbus Helicopters booked 56 net orders (Q1 2021: 40 units) and was awarded a contract for the Tiger MkIII attack helicopter upgrade programme. Airbus Defence and Space’s order intake by value increased to € 3.2 billion (Q1 2021: € 2.0 billion), corresponding to a book-to-bill ratio of around 1.3. Included is the Eurodrone global contract signed in February 2022, covering the development and manufacturing of 20 systems and 5 years of initial in-service support for Germany, France, Italy and Spain.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Consolidated revenues increased 15 percent to € 12.0 billion (Q1 2021: € 10.5 billion), mainly reflecting the higher number of commercial aircraft deliveries and a favourable mix. A total of 142(1) commercial aircraft were delivered (Q1 2021: 125 aircraft), comprising 11 A220s, 109 A320 Family, 6 A330s and 16 A350s. The financial results reflect 140 commercial aircraft deliveries after the reduction of two aircraft previously recorded as sold in December 2021 for which a transfer was not possible due to international sanctions in place. Revenues generated by Airbus’ commercial aircraft activities increased 17 percent, mainly reflecting the higher deliveries and favourable mix. Airbus Helicopters delivered 39 units (Q1 2021: 39 units), with revenues rising 7 percent mainly reflecting growth in services and a favourable mix in programmes. Revenues at Airbus Defence and Space increased 16 percent, mainly driven by the Military Aircraft business and following the Eurodrone contract signature. One A400M transport aircraft was delivered in Q1 2022.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – increased to € 1,263 million (Q1 2021: € 694 million). It includes a non-recurring positive element of € 0.4 billion related to the remeasurement of past service cost in the retirement obligations and also reflects efforts on competitiveness and the impact from cost containment. An amount of € -0.2 billion was recorded in Q1 2022 resulting from the impact of international sanctions against Russia.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">EBIT Adjusted related to Airbus’ commercial aircraft activities increased to € 1,065 million (Q1 2021: € 533 million), mainly reflecting higher deliveries as well as the efforts on competitiveness and the effect from cost containment. It also includes the non-recurring impact from retirement obligations, partly offset by the impact of international sanctions against Russia.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Commercial aircraft production for the A320 Family is progressing towards a monthly rate of 65 aircraft by summer 2023, in a complex environment. Following an analysis of global customer demand as well as an assessment of the industrial ecosystem’s readiness, the Company is now working with its suppliers and partners to enable monthly production rates of 75 in 2025. This production increase will benefit the entire global industrial value chain. Airbus will meet the higher production rates by increasing capacity at its existing industrial sites and growing the industrial footprint in Mobile, US, while investing to ensure that all commercial aircraft assembly sites are A321-capable.&nbsp; </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">On the A321XLR, the Company continues to work towards a first flight by the end of Q2 2022. Initially planned for the end of 2023, the entry-into-service is now expected to take place in early 2024 in order to meet certification requirements.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Airbus Helicopters’ EBIT Adjusted increased to € 90 million (Q1 2021: € 62 million), partly driven by growth in services and favourable mix in programmes. It also reflects non-recurring elements, including the impact from retirement obligations.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">EBIT Adjusted at Airbus Defence and Space was € 106 million (Q1 2021: € 59 million), mainly driven by Military Aircraft and following the Eurodrone contract signature. It also reflects the non-recurring impact from retirement obligations, partly offset by the consequences for the space business from the international sanctions against Russia.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">On the A400M programme, development activities continue toward achieving the revised capability roadmap. Retrofit activities are progressing in close alignment with the customer. Risks remain on the qualification of technical capabilities and associated costs, on aircraft operational reliability in particular with regard to powerplant, on cost reductions and on securing export orders in time as per the revised baseline.</span></span></p> </div> <div> <div>Posted date</div> <div><time datetime="2022-05-05T12:00:00Z">Thu, 05/05/2022 - 12:00</time> </div> </div> <div> <div>First paragraph</div> <div><p><span style="font-size:12.0pt"><span style="font-family:&quot;Calibri&quot;,sans-serif">These Q1 results reflect a solid performance across its commercial aircraft, helicopter and defence businesses. </span></span></p> </div> </div> <div> <div>Regions</div> <div> <div><a href="/middle-east-and-north-africa" hreflang="en">Middle East and North Africa</a></div> <div><a href="/africa" hreflang="en">Africa</a></div> <div><a href="/south-asia" hreflang="en">South Asia</a></div> </div> </div> <div> <div>Other topics</div> <div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> </div> </div> <div> <div>Rate</div> <div><form class="fivestar-form-8" id="vote--8" data-drupal-selector="fivestar-form-8" action="/taxonomy/term/11/feed" method="post" accept-charset="UTF-8"> <div class="clearfix fivestar-average-text fivestar-average-stars fivestar-form-item fivestar-basic"><div class="js-form-item form-item js-form-type-fivestar form-item-vote js-form-item-vote form-no-label"> <div class="js-form-item form-item js-form-type-select form-item-vote js-form-item-vote form-no-label"> <select class="vote form-select" data-drupal-selector="edit-vote" aria-describedby="edit-vote--16--description" id="edit-vote--16" name="vote"><option value="-">Select rating</option><option value="20">Give it 1/5</option><option value="40">Give it 2/5</option><option value="60">Give it 3/5</option><option value="80">Give it 4/5</option><option value="100">Give it 5/5</option><option value="0">Cancel rating</option></select> <div id="edit-vote--16--description" class="description"> <div class="fivestar-summary fivestar-summary-average-count"><span class="empty">No votes yet</span></div> </div> </div> </div> </div><input style="display:none" data-drupal-selector="edit-submit" type="submit" id="edit-submit--8" name="op" value="Rate" class="button js-form-submit form-submit" /> <input autocomplete="off" data-drupal-selector="form-1ibzebx1db6zxvithhtxcilwplmt4onvdoofyarkp2a" type="hidden" name="form_build_id" value="form-1iBzeBx1Db6zXVitHHTxCIlwplMT4OnvDoofyaRkp2A" /> <input data-drupal-selector="edit-fivestar-form-8" type="hidden" name="form_id" value="fivestar_form_8" /> </form> </div> </div> <div> <div>Top story</div> <div>Off</div> </div> <div> <div>Article main topic</div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> </div> <div> <div>Redirected</div> <div>Off</div> </div> <div> <div>Moved to features</div> <div>Off</div> </div> <div> <div>Lead image:</div> <div> <img property="schema:image" src="/sites/aerospace/times/files/2022-05/airbus-flag.jpg" width="1040" height="660" alt="" loading="lazy" typeof="foaf:Image" /> </div> </div> <div> <div>New batch</div> <div>Off</div> </div> Thu, 05 May 2022 13:27:34 +0000 eNethersole 64925 at http://www.timesaerospace.aero Bombardier shows solid financial results for Q1 2022 http://www.timesaerospace.aero/news/business-and-finance/bombardier-shows-solid-financial-results-for-q1-2022 <div property="schema:text"><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">This is marked by a strong aftermarket performance, robust free cash flow generation and a growing backlog.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">“We took off quickly this year, bolstered by the positive performance from last year and sustained favourable market conditions,” said Éric Martel, president and chief executive Officer. “Thanks to continued strong deliveries and order intake, as well as great performance of our aftermarket services, we continue to accelerate our momentum on the path towards our long-term objectives.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">First Quarter 2022 Financial Performance</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Bombardier is positioned to capitalise on the demand for both new jets and services. This strength supported consolidated cash generation of $173 million for the first quarter of 2022, which represents a $578 million improvement compared to the same quarter last year. “I am particularly pleased with the continued robust free cash flow generation we achieved in this quarter. This is a testament to the concerted efforts of our sales team that worked diligently to make the most of vigorous demand, and secured a very strong order intake,” Martel said. “While we are clearly tracking well to our free cash flow guidance for 2022, we are opting to take a few months to measure the impact of the current global geopolitical and market contexts to carefully assess the true size of any potential upside.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Bombardier’s revenues from business jet sales and aftermarket services totalled $1.2 billion during the first quarter of 2022 as business jet utilization and flight hours continued to rise around the world. The company delivered a total of 21 aircraft in the first quarter of 2022. Bombardier also reported record aftermarket revenues, a ~34% improvement over the same quarter last year. The strong demand was reflected also in the 2.5 unit book-to-bill ratio and a growing backlog that rose by $1.3 billion to $13.5 billion since the beginning of 2022.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Major Step in Debt Reduction</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">During the first quarter of 2022, Bombardier completed the partial redemption of outstanding Senior Notes in the total value of $400 million, a major milestone in its deleveraging strategy. Bombardier was able to repay this debt by utilising cash and cash equivalents generated in 2021. Continued deleveraging of the business remains a priority for Bombardier. “It is clear that we have meaningful cash generation potential ahead of us that we can continue to allocate towards debt reduction, but also significant strategic investments,” emphasised Martel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Global 7500 Milestone</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">The company concluded the first quarter of 2022 with a landmark achievement for the industry flagship Global 7500. On March 30, 2022 it delivered the 100th Global 7500 to long-time client VistaJet. This is the 10th Global 7500 for VistaJet, which plans to welcome up to a total of 17 into its fleet by the end of 2022. “This delivery represented an extremely important moment for all of us at Bombardier, in Montréal, Toronto and Wichita, where our extraordinary teams are designing, building and testing this amazing aircraft,” said Martel. “We also celebrated the fact that we have now reached our targeted unit cost for this aircraft, which has been rapidly growing its EBITDA contribution over the last year and will see its margins more than double between 2021 and 2025.”</span></span></p> </div> <div> <div>Posted date</div> <div><time datetime="2022-05-05T12:00:00Z">Thu, 05/05/2022 - 12:00</time> </div> </div> <div> <div>First paragraph</div> <div><p><span style="font-size:12pt"><span style="font-family:Calibri,sans-serif">Bombardier has announced solid financial results for the first quarter of 2022.</span></span></p> </div> </div> <div> <div>Regions</div> <div> <div><a href="/middle-east-and-north-africa" hreflang="en">Middle East and North Africa</a></div> <div><a href="/africa" hreflang="en">Africa</a></div> <div><a href="/south-asia" hreflang="en">South Asia</a></div> </div> </div> <div> <div>Other topics</div> <div> <div><a href="/business-aviation" hreflang="en">Business aviation</a></div> </div> </div> <div> <div>Rate</div> <div><form class="fivestar-form-9" id="vote--9" data-drupal-selector="fivestar-form-9" action="/taxonomy/term/11/feed" method="post" accept-charset="UTF-8"> <div class="clearfix fivestar-average-text fivestar-average-stars fivestar-form-item fivestar-basic"><div class="js-form-item form-item js-form-type-fivestar form-item-vote js-form-item-vote form-no-label"> <div class="js-form-item form-item js-form-type-select form-item-vote js-form-item-vote form-no-label"> <select class="vote form-select" data-drupal-selector="edit-vote" aria-describedby="edit-vote--18--description" id="edit-vote--18" name="vote"><option value="-">Select rating</option><option value="20">Give it 1/5</option><option value="40">Give it 2/5</option><option value="60">Give it 3/5</option><option value="80">Give it 4/5</option><option value="100">Give it 5/5</option><option value="0">Cancel rating</option></select> <div id="edit-vote--18--description" class="description"> <div class="fivestar-summary fivestar-summary-average-count"><span class="empty">No votes yet</span></div> </div> </div> </div> </div><input style="display:none" data-drupal-selector="edit-submit" type="submit" id="edit-submit--9" name="op" value="Rate" class="button js-form-submit form-submit" /> <input autocomplete="off" data-drupal-selector="form-vkufd0-dlsjp0p5gl85sp2v3wg5rsliux8xykeifpoi" type="hidden" name="form_build_id" value="form-vkuFd0-DLSJP0P5gl85sP2v3wG5rSLIux8XYkeifPoI" /> <input data-drupal-selector="edit-fivestar-form-9" type="hidden" name="form_id" value="fivestar_form_9" /> </form> </div> </div> <div> <div>Top story</div> <div>Off</div> </div> <div> <div>Article main topic</div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> </div> <div> <div>Redirected</div> <div>Off</div> </div> <div> <div>Moved to features</div> <div>Off</div> </div> <div> <div>Lead image:</div> <div> <img property="schema:image" src="/sites/aerospace/times/files/2022-05/Global7000_cabin_designed_1-web.jpg" width="1800" height="600" alt="" loading="lazy" typeof="foaf:Image" /> </div> </div> <div> <div>New batch</div> <div>Off</div> </div> Thu, 05 May 2022 13:03:22 +0000 eNethersole 64924 at http://www.timesaerospace.aero Boeing releases first quarter 2022 commercial results http://www.timesaerospace.aero/news/business-and-finance/boeing-releases-first-quarter-2022-commercial-results <div property="schema:text"><p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-family:&quot;Arial&quot;,sans-serif">Operating margin of (20.6)% also reflects abnormal costs and period expenses, including charges for impacts of the war in Ukraine and higher research and development expense.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-family:&quot;Arial&quot;,sans-serif">Boeing has nearly completed the global safe return to service of the 737 MAX and the fleet has flown more than one million total flight hours since late 2020. The 737 production rate continues to increase and is expected to increase to 31 airplanes per month during the second quarter.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-family:&quot;Arial&quot;,sans-serif">On the 787, the company has submitted the certification plan to the FAA. Rework has been completed on the initial airplanes and the company continues to work closely with the FAA on timing of resuming deliveries. The programme is producing at a very low rate and will continue to do so until deliveries resume, with an expected gradual return to five per month over time. The company continues to anticipate 787 abnormal costs of approximately $2 billion, with most being incurred by the end of 2023, including $312 million recorded in the quarter.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-family:&quot;Arial&quot;,sans-serif">During the quarter, the company launched the 777-8 Freighter with an order from Qatar Airways. Delivery of the first 777-9 airplane is now expected in 2025, which reflects an updated assessment of the time required to meet certification requirements. To minimise inventory and the number of airplanes requiring change incorporation, the 777-9 production rate ramp is being adjusted, including a temporary pause through 2023. This will result in approximately $1.5 billion of abnormal costs beginning in the second quarter of this year and continuing until 777-9 production resumes. The 777 programme is also leveraging the adjustment to the 777-9 production rate.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:&quot;Arial&quot;,sans-serif">"While the first quarter of 2022 brought new challenges for our world, industry and business, I am proud of our team and the steady progress we're making toward our key commitments," said Dave Calhoun, Boeing president and chief executive officer. "We increased 737 MAX production and deliveries and made important progress on the 787 by submitting our certification plan to the FAA. Despite the pressures on our defence and commercial development programs, we remain on track to generate positive cash flow for 2022, and we're focused on our performance as we work through certification requirements and mature several key programs to production. Leading with safety and quality, we're taking the right actions to drive stability throughout our operations, deliver on our commitments to customers and position Boeing for a sustainable future."</span></span></p> <p>&nbsp;</p> </div> <div> <div>Posted date</div> <div><time datetime="2022-04-28T12:00:00Z">Thu, 28/04/2022 - 12:00</time> </div> </div> <div> <div>First paragraph</div> <div><p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="font-family:&quot;Arial&quot;,sans-serif">Boeing has released first quarter 2022 results showing commercial aircraft revenue of $4.2&nbsp;billion decreased slightly, primarily due to timing of wide-body deliveries, partially offset by higher 737 deliveries.</span></span></span></p> </div> </div> <div> <div>Regions</div> <div> <div><a href="/middle-east-and-north-africa" hreflang="en">Middle East and North Africa</a></div> <div><a href="/africa" hreflang="en">Africa</a></div> <div><a href="/south-asia" hreflang="en">South Asia</a></div> </div> </div> <div> <div>Other topics</div> <div> <div><a href="/air-transport" hreflang="en">Air transport</a></div> </div> </div> <div> <div>Rate</div> <div><form class="fivestar-form-10" id="vote--10" data-drupal-selector="fivestar-form-10" action="/taxonomy/term/11/feed" method="post" accept-charset="UTF-8"> <div class="clearfix fivestar-average-text fivestar-average-stars fivestar-form-item fivestar-basic"><div class="js-form-item form-item js-form-type-fivestar form-item-vote js-form-item-vote form-no-label"> <div class="js-form-item form-item js-form-type-select form-item-vote js-form-item-vote form-no-label"> <select class="vote form-select" data-drupal-selector="edit-vote" aria-describedby="edit-vote--20--description" id="edit-vote--20" name="vote"><option value="-">Select rating</option><option value="20">Give it 1/5</option><option value="40">Give it 2/5</option><option value="60">Give it 3/5</option><option value="80">Give it 4/5</option><option value="100">Give it 5/5</option><option value="0">Cancel rating</option></select> <div id="edit-vote--20--description" class="description"> <div class="fivestar-summary fivestar-summary-average-count"><span class="empty">No votes yet</span></div> </div> </div> </div> </div><input style="display:none" data-drupal-selector="edit-submit" type="submit" id="edit-submit--10" name="op" value="Rate" class="button js-form-submit form-submit" /> <input autocomplete="off" data-drupal-selector="form-9zr7gvc0iuclkpvtalx-ct06r7fokor0xiyzy5wqn1q" type="hidden" name="form_build_id" value="form-9zr7GVC0iuCLkpvtaLX_cT06R7FoKOr0XiyzY5wQN1Q" /> <input data-drupal-selector="edit-fivestar-form-10" type="hidden" name="form_id" value="fivestar_form_10" /> </form> </div> </div> <div> <div>Top story</div> <div>Off</div> </div> <div> <div>Article main topic</div> <div><a href="/business-finance" hreflang="en">Business and finance</a></div> </div> <div> <div>Redirected</div> <div>Off</div> </div> <div> <div>Moved to features</div> <div>Off</div> </div> <div> <div>Lead image:</div> <div> <img property="schema:image" src="/sites/aerospace/times/files/2022-04/Boeing%20777X%20inflight.jpg" width="950" height="1188" alt="" loading="lazy" typeof="foaf:Image" /> </div> </div> <div> <div>New batch</div> <div>Off</div> </div> Thu, 28 Apr 2022 07:39:14 +0000 eNethersole 64893 at http://www.timesaerospace.aero