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.



Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
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Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo

Oil prices extended gains on Friday, heading for a weekly uptick of more than 4%, as the Ukraine war intensified with Russian President Vladimir Putin warning of a global conflict.
Brent crude futures gained 10 cents, or 0.1%, to $74.33 a barrel by 0448 GMT. US West Texas Intermediate crude futures rose 13 cents, or 0.2%, to $70.23 per barrel.
Both contracts jumped 2% on Thursday and are set to cap gains of more than 4% this week, the strongest weekly performance since late September, as Moscow stepped up its offensive against Ukraine after the US and Britain allowed Kyiv to strike Russia with their weapons.
Putin said on Thursday it had fired a ballistic missile at Ukraine and warned of a global conflict, raising the risk of oil supply disruption from one of the world's largest producers.
Russia this month said it produced about 9 million barrels of oil a day, even with output declines following import bans tied to its invasion of Ukraine and supply curbs by producer group OPEC+.
Ukraine has used drones to target Russian oil infrastructure, including in June, when it used long-range attack drones to strike four Russian refineries.
Swelling US crude and gasoline stocks and forecasts of surplus supply next year limited price gains.
"Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price upside, and the price elasticity of OPEC and shale supply limiting price downside," Goldman Sachs analysts led by Daan Struyven said in a note.
"However, the risks of breaking out are growing," they said, adding that Brent could rise to about $85 a barrel in the first half of 2025 if Iran supply drops by 1 million barrels per day on tighter sanctions enforcement under US President-elect Donald Trump's administration.
Some analysts forecast another jump in US oil inventories in next week's data.
"We will be expecting a rebound in production as well as US refinery activity next week that will carry negative implications for both crude and key products," said Jim Ritterbusch of Ritterbusch and Associates in Florida.
The world's top crude importer, China, meanwhile on Thursday announced policy measures to boost trade, including support for energy product imports, amid worries over Trump's threats to impose tariffs.