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Abu Dhabi To Exit Daimler

Abu Dhabi’s investment fund Aabar is reportedly looking to exit its its stake in the German carmaker.

Mubadala To Manufacture Parts For Boeing

This is the first time Boeing has signed a direct outsourcing deal for parts production in the Arab region.

Oman Air Reports $285.6m Loss

The carrier said that the loss was “justified” and blamed it on the rising fuel prices.

TAQA Sells Tesla Motors Stake

Abu Dhabi National Energy Company (TAQA) booked a profit of $113 million on the sale.

Drydocks Gets Approval From 98% Of Creditors

Only one creditor has not yet accepted the $2.2 billion debt restructuring plan proposed by the Dubai-based shipbuilding unit.

BAE Signs Saudi-Eurofighter Deal

The British defence contractor said that it had signed a contract to build 48 Typhoon aircraft for the Saudi Arabian air force.

ME Airlines See 23% Rise In Passengers

The strong performance of regional airlines in February this year, suggests that the region has now “fully recovered,” said IATA.

Etihad’s Revenues Soar In Q1 2012

The Abu Dhabi -based carrier recorded a 28 per cent year-on-year rise in revenues during the first quarter of this year.

Royal Jordanian In Merger Talks

The airline is struggling with rising fuel costs and increasing competition in the region.

A Wing And A Prayer

Strata, Abu Dhabi’s aerospace parts manufacturer has become a worldwide name in just two years.

DP World Profit Rises to $683 Million

The UAE-founded international ports company has cut its debts.

JAFZA Eyes Loan Launch

Dubai’s Jebel Ali Free Zone is planning to launch a syndicated loan to partly refinance its $2 billion Sukuk maturing in November.

DP World To Repay $3bn Loan Early

The port operator has said that it will pay off its loan, which matures in October, six months ahead of schedule.

Kingfisher To Stop International Flights

India-based Kingfisher Airlines, which operates daily flights to Dubai, said that it was cancelling all its international routes.

Kuwait Airways Strike Costs $1mn

The strike caused by the carrier’s employees over a pay hike led to the cancellation of 10 flights within a four-hour period.

The Road To Profit

Despite the threat of regional upheaval and global downturns, the UAE is still the darling of the luxury car industry.

Emirates Hires 3,800 Cabin Crew

Emirates plans to hire 3,800 new cabin staff this year, taking its total number of in-flight crew to nearly 20,000.

Al Baker Backs Boeing, Airbus

The outspoken head of Qatar Airways has expressed support for the planemakers as they struggle to resolve production flaws.

Drydocks To Offer $2.2bn Debt Plan

Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.

ME Airlines See Rise In Traffic

Airlines in the region posted a 14.5 per cent year-on-year increase in January this year, according to the IATA.

UAE Traffic Fatalities Drop In 2011

The number of people killed in traffic accidents fell by 12.8 per cent last year, according to the interior ministry.

US Eyes UAE For Military Aircraft Sale

The UAE has reportedly expressed interest in buying the V-22 Osprey, a tilt-rotor aircraft from the US.

Abu Dhabi Airport Welcomes More Passengers

More than 1.1 million passengers passed through the UAE capital’s international airport during January 2012.

Air Arabia 2011 Net Profit Falls 13%

The airline’s net profit for the fourth quarter of 2011 increased by seven per cent year-on-year to reach Dhs78.7 million.

Dubai Raises $675mn For Tram Project

The proceeds from the dual-currency loan will be used to fund the first phase of the Al-Sufouh project.

Oman Owes Gulf Air $310mn

The Bahraini carrier said that the sum has been outstanding from the time Oman pulled out of Gulf Air in 2007.

11.8mn Ride Dubai Metro’s Green Line

The recently inaugurated Green Line saw more than 11.8 million passengers during its first five months.

Mashreq Loans $80mn To Gulf Air

The struggling Bahraini carrier will use the amount to meet its medium-term capital needs.

Etihad Reports $14mn Net Profit

This is the first time that the UAE airline, started eight years ago, has recorded a profit.

Emirates Eyes $517mn Loan

The airline is planning an Islamic loan facility to fund two of its planes, according to reports.