Gulf Carriers Hope Boeing Will Handle Delivery of Aircraft Orders

President of Dubai Airports, Supreme President and CEO of Emirates Airlines Sheikh Ahmed bin Saeed Al Maktoum during his tour of the company’s pavilion at the Arabian Travel Market in Dubai. (Asharq Al-Awsat)
President of Dubai Airports, Supreme President and CEO of Emirates Airlines Sheikh Ahmed bin Saeed Al Maktoum during his tour of the company’s pavilion at the Arabian Travel Market in Dubai. (Asharq Al-Awsat)
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Gulf Carriers Hope Boeing Will Handle Delivery of Aircraft Orders

President of Dubai Airports, Supreme President and CEO of Emirates Airlines Sheikh Ahmed bin Saeed Al Maktoum during his tour of the company’s pavilion at the Arabian Travel Market in Dubai. (Asharq Al-Awsat)
President of Dubai Airports, Supreme President and CEO of Emirates Airlines Sheikh Ahmed bin Saeed Al Maktoum during his tour of the company’s pavilion at the Arabian Travel Market in Dubai. (Asharq Al-Awsat)

President of Dubai Airports, Supreme President and CEO of Emirates Airlines Sheikh Ahmed bin Saeed Al Maktoum hoped that the new management of US-based Boeing will address delays in aircraft deliveries.

Addressing journalists on the sidelines of the Arabian Travel Market in Dubai, he noted that discussions with Boeing regarding aircraft delivery dates were underway, stressing that the delay is hampering plans, including expansion operations and fleet size.

The statements of the president of Emirates Airlines are consistent with Gulf airlines that are awaiting clear initiatives from the US aviation manufacturing giant to address deliveries.

Gulf airlines account for a large portion of aircraft purchases from the American Boeing. Sources told Asharq Al-Awsat that those had no other options other than Boeing or Airbus, the European company, which is also facing massive purchase orders.

Boeing has recently been exposed to a series of safety-related incidents, including an emergency landing due to mechanical failures.

On Monday, the US Civil Aviation Administration (FAA) announced that it had opened an investigation against Boeing to determine whether the American aircraft manufacturing giant had conducted the required safety inspection for all 787 Dreamliner airplanes.

Sheikh Ahmed bin Saeed stressed that Dubai needs a future airport that will serve the increasing growth in the coming years, noting that the new Al Maktoum Airport is in line with the Dubai 33 agenda.

“Dubai International Airport recorded about 87 million passengers in 2023 and is expected to receive more than 90 million passengers in 2024,” he said.

He explained that the transfer of Emirates Airlines to Al Maktoum International Airport will be made in one phase, adding that the airlines will operate from the airport directly upon its opening.

Regarding the geopolitical situation in the region, he noted that the company is making flexible future plans for passenger transport operations to adapt to challenges.



US Treasury Targets Russia's Gazprombank with New Sanctions

FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
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US Treasury Targets Russia's Gazprombank with New Sanctions

FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo

The United States imposed new sanctions on Russia's Gazprombank on Thursday, the Treasury Department said, as President Joe Biden steps up actions to punish Moscow for its invasion of Ukraine before he leaves office in January.
The move, which wields the department's most powerful sanctions tool, effectively kicks Gazprombank out of the US banking system, bans its trade with Americans and freezes its US assets, Reuters reported.
Gazprombank is one of Russia's largest banks and is partially owned by Kremlin-owned gas company Gazprom. Since Russia's invasion in February 2022, Ukraine has been urging the US to impose more sanctions on the bank, which receives payments for natural gas from Gazprom's customers in Europe.
The fresh sanctions come days after the Biden administration allowed Kyiv to use US ATACMS missiles to strike Russian territory. On Tuesday, Ukraine fired the weapons, the longest range missiles Washington has supplied for such attacks on Russia, on the war's 1,000th day.
The Treasury also imposed sanctions on 50 small-to-medium Russian banks to curtail the country's connections to the international financial system and prevent it from abusing it to pay for technology and equipment needed for the war. It warned that foreign financial institutions that maintain correspondent relationships with the targeted banks "entails significant sanctions risk."
"This sweeping action will make it harder for the Kremlin to evade US sanctions and fund and equip its military," Treasury Secretary Janet Yellen said. "We will continue to take decisive steps against any financial channels Russia uses to support its illegal and unprovoked war in Ukraine."
Gazprombank said Washington's latest move would not affect its operations. The Russian embassy in Washington did not respond to requests for comment.
Along with the sanctions, Treasury also issued two new general licenses authorizing US entities to wind down transactions involving Gazprombank, among other financial institutions, and to take steps to divest from debt or equity issued by Gazprombank.
Gazprombank is a conduit for Russia to purchase military materiel in its war against Ukraine, the Treasury said. The Russian government also uses the bank to pay its soldiers, including for combat bonuses, and to compensate the families of its soldiers killed in the war.
The administration believes the new sanctions improve Ukraine's position on the battlefield and ability to achieve a just peace, a source familiar with the matter said.
COLLATERAL IMPACT
While Gazprombank has been on the administration's radar for years, it has been seen as a last resort because of its focus on energy and the desire to avoid collateral impact on Europe, a Washington-based trade lawyer said.
"I think that the current administration is trying to put as much pressure and add as many sanctions as possible prior to January 20th to make it harder for the next administration to unwind," said the lawyer, Douglas Jacobson.
Officials in Slovakia and Hungary said they were studying the impacts of the new US sanctions.
Trump would have the power to remove the sanctions, which were imposed under an executive order by Biden, if he wants to take a different stance, Jacobson said.
After Russia's invasion in 2022, the Treasury placed debt and equity restrictions on 13 Russian firms, including Gazprombank, Sberbank and the Russian Agricultural Bank.
The US Treasury has also worked to provide Ukraine with funds from windfall proceeds of frozen Russian assets.