Kuwaiti Partner to Pull Out of Sudan Airways
Sudanese & Kuwaiti media reported the Sudanese Government reached a preliminary agreement to acquire all shares of remaining parties believed to value US Dollars 100 million.
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The Hunt Continues, for a New CEO for Oman Air to Replace Hill
Peter Hill, the outgoing CEO of Oman Air, has delayed his departure from the company, as the board of Oman’s national airline fail in finding a replacement for the person who led investments in the aircraft and expanding new routes.
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Saudi Aramco Awards Boeing Maintenance Contract to Alsalam Aircraft Company
Riyadh, the U.S.-Saudi Arabian Business Council (USSABC) reported, Saudi Aramco recently signed a contract with Alsalam Aircraft Company (Alsalam) to maintain its fleet of Boeing 737 Next Generation (NG) aircraft.
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NBK Capital Report Raise Fair Value of Jazeera Airways
NBK Capital, Kuwait issued a report on Jazeera Airways, raising the stock’s fair value by 15.4% from 260 fils to 300 fils to reflect better forecasts based on the airliner’s latest results. This valuation represents nearly 24% upside potential to the stock’s market close of 242 fils on Monday, Sept. 5th.
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European Union Lift Sanctions on Libyan Airlines
In view of the developments in Libya, the EU Council today lifted the freeze on the financial assets and economic resources of 28 Libyan entities. Today's decision amends Council decision 2011/137/CFSP of 28 February, which introduced a travel ban and an assets freeze, while granting the necessary humanitarian exemptions.
READ MOREPassenger Traffic Gets a Boost – Freight Continues to Stagnate
Geneva, The International Air Transport Association (IATA) announced traffic results for July 2011 which showed that passenger travel was up 5.9% over July 2010. While Middle East carriers posted a 9.7% increase in demand, outstripping the 8.9% capacity increase. Load factors for the month stood at 81.4%.
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