Kuwait’s Jazeera Airways' board approved a $3.4 billion deal to buy 28 narrow-body aircraft from Airbus to expand its fleet across markets in the Middle East parts of Europe.
The deal included 20 A320neos and eight A321neos, the airline said in a statement on Sunday to Boursa Kuwait, where its shares are traded.
The board's approval follows a preliminary agreement signed by the companies at the Dubai Air show in November.
Jazeera Airways board also approved an agreement to buy two CFM LEAP1-A26 spare engines in a deal valued at $32.2 million.
“There is no immediate financial effect but both agreements are expected to have a positive impact in the medium and long-term,” Jazeera Airways said. Deliveries of the aircraft will be determined later.
The new aircraft will be used for the airline's expansion in the Middle East and mainland Europe, Rohit Ramachandran, the airline's chief executive, said last year.
Expansion in Saudi Arabia, Iran and the Commonwealth of Independent States are among the "low-hanging fruit" for growth, he said.
Airlines are reducing their cash burn and swinging to profit as coronavirus linked-movement restrictions ease.
Annual passenger traffic recovered to 42 per cent of 2019 levels in 2021 and cargo volumes rose 7 per cent from 2019, the International Air Transport Association said this month.
Jazeera Airways reported a net profit of 11.8m Kuwaiti dinars in the third quarter of last year on the back of higher revenue compared to a loss of 5.58m dinars during the same period in 2020.
The airline was also upgraded in January to Boursa Kuwait's Premier Market after it exceeded the minimum liquidity and market capitalisation requirements over the past two years.
“As the only company at Boursa Kuwait to offer investors access to the growing travel and aviation sector, the upgrade confirms the success of the company’s strategy and business model which positively contributes to the local economy,” Jazeera Airways chairman Marwan Boodai said this month.
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
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The bio
Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been
Favourite place to visit: Dubai, there’s no place like home
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
UAE currency: the story behind the money in your pockets
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Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
UAE currency: the story behind the money in your pockets
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
MATCH INFO
Europa League final
Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports
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