Transport

ALAFCO spends US$7 billion on leasing and purchasing aircraft deals in 2007

Chairman of ALAFCO - the Kuwait-based international aircraft leasing company - Ahmad Abdallah Zaben said the company has signed US$7 billion in deals for the purchase of 66 Airbus aircrafts and Boeings. He disclosed that the company has placed bids in a number of countries related to the purchase and lease of aircraft. ALAFCO’s revenues are expected to increase between 10 percent and 11 percent in the company’s current fiscal year, which ends on September 30th 2008.

First cargo shipping line launched between Iran and UAE

The first shipping line was established between the Iranian island of Kish in the Persian Gulf and the UAE to transit different cargos between the two sides. Managing Director of the Kish Shipping Company Ahmad Karami said that the line was launched to organise the transit of goods for those who are active in different businesses in the Kish Free Trade Zone.

Strategic 10-year plan to develop transport sector

Iraq’s Ministry of Transportation has put together a plan for the next 10 years to develop the transport sector in the country to work alongside increased imports into the country to meet supplies of items on the citizens’ rations card.

Negotiations with Airbus and Boeing to modernise Iraq’s fleet

Kifah Hassan Jabbar, General Director of Iraqi Airways, announced that he held detailed talks with both Airbus and Boeing concerning the modernisation of the company’s fleet. He spoke to representatives from Airbus about activating a contract signed in 1989, as well as to people from Boeing regarding the purchase of new and used planes for Iraqi Airways, saying that the company aims to restore services to routes previously served.

Gulf Air in talks to buy eight Airbus A320s

Struggling Bahrain-based carrier Gulf Air said it was holding talks with European manufacturer Airbus to buy eight A320 aircraft, a day after placing a four-billion-dollar order with Boeing. "We are in active talks with Airbus for eight narrow-body A320s," its chairman Mahmood al-Kooheji told reporters.

Saudi investor acquires stake in Air Berlin

Saudi investor Kamal Abdullah S. Bahamdan has held a 3.1 percent stake in German airline Air Berlin since January 11, the company has announced. Mr Bahamdan acquired the stake via Moab Investments, the investment subsidiary of his holding company KB Group Holdings.

Boeing, Gulf Air close 787 Dreamliner deal

Boeing and Bahrain's national carrier Gulf Air finalised negotiations for up to 24 Boeing 787 Dreamliners in a deal that could be worth approximately US$3.9 billion at list prices if all options are exercised. The agreement is for 16 787s on direct order with purchase rights for eight additional 787s.

Russian Railways says it wins tender for US$800m Saudi contract

Saudia Arabia has invited Russia state-run railroad monopoly for talks on building a railway line in the Middle Eastern country, the Russian company said. The Saudi Finance Ministry sent a letter inviting OAO Russian Railways to open talks on a contract to build the 520-kilometre (325-mile) railway from Az Zabirah, in the north, to Riyadh's international airport, the Russian company said in a statement.