Kuwait-based budget carrier Jazeera Airways said its board has decided to defer a dividend decision for FY 2025, citing uncertainty linked to the Middle East conflict. The move is intended to provide greater clarity on evolving conditions, including the timeline for operational normalisation in the country.
Even though the rebound in global airfreight traffic slowed, pricing continued to rise further, indicating that the price of jet fuel is replacing capacity constraints as the driver of upward rate momentum, said a report. GCC-based airlines continued to rebuild their capacity but still face constraints from the conflict.
The Federal Authority for Identity, Citizenship, Customs and Ports Security has decided to exempt individuals who were unable to travel from fines for delayed departures due to exceptional circumstances currently affecting the region, which led to the closure of airspace and the temporary suspension of a number of flights.
Russian Foreign Minister Sergei Lavrov on Friday discussed the possibility of a diplomatic settlement in the Iran war with his Iranian counterpart Abbas Araqchi, taking into account the legitimate interests of all countries in the region, reported Reuters citing senior Russian officials.
The air cargo spot rates continues to rise sharply amid the highly volatile, unstable and fast-changing situation in the Middle East. As per WorldACD Market Data reports, there has been some recovery in the air cargo markets since the Iran war, with the average spot rates from Gulf countries up 22%.
The US Dollar Index (DXY) is moving at a pivotal moment, reflecting the interplay of three key factors: the Federal Reserve’s monetary tightening, rising US Treasury yields, and escalating geopolitical risks, particularly in the Middle East, said an industry expert.
Iranian attacks have knocked out 17% of Qatar's liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, QatarEnergy's CEO and state minister for energy affairs told Reuters.
IAAPA, the global association for the attractions industry, has announced the cancellation of its inaugural edition in the region owing to the ongoing Middle East conflict. The IAAPA Expo Middle East will now be held next year in Abu Dhabi on April 12. This comes following a meeting with the IAAPA Board of Directors.
