Qatar Airways, Boeing multi-billion dollar deal to power growth through 2045
Doha, Qatar: The recent aircraft order signed by Qatar Airways and Boeing marks a pivotal step in the airline's long-term fleet strategy until 2045, an official has said.
On the opening day of the Qatar Economic Forum, the Group CEO of Qatar Airways, Eng. Badr Mohammed Al-Meer underscored the primary reasons behind the selection and shed light on the airline's broader global ambitions, particularly in the Asia-Pacific region.
'We started this process back in March and April of 2024. We created a competitive environment between Boeing and Airbus, as well as between engine manufacturers Rolls-Royce and GE, to ensure we secured the best commercial and technical proposals. It was a very close call at every stage, leaning at times towards Airbus, then back to Boeing, who provided us with a better commercial and technical proposal,' said Al-Meer.
The new fleet is expected to start arriving in May 2029 and will support the airline's growth plans for the next two decades. 'This ticks all the boxes for us to continue growing, expand our fleet, enhance our network, and to begin retiring older aircraft,' Al-Meer noted.
Despite industry headwinds, demand for Qatar Airways' services remains strong. He said, 'We are witnessing demand that we simply cannot cater to at present. Our load factors are at historic highs, averaging 85.6 percent, and reaching 95 to 96 percent in some sectors.'
Al-Meer emphasised that the new aircraft order reflects the airline's confidence in future market trends. 'For now, this is the order we have placed until we see how the market evolves,' he said.
The Group CEO also explained Qatar Airways' strategic investment with Virgin Australia, citing limited traffic rights to Australia as a long-standing obstacle. 'Australia is a key market for us, yet we were restricted to 21 weekly flights. Our partnership with Virgin Australia added 28 more weekly flights. This is a win-win for us, Virgin Australia, and most importantly for Australian consumers, offering them more choice and competitive fares,' he said.
Beyond Australia, Qatar Airways is also targeting the Far East, where demand is high but regulatory restrictions persist. 'While we have open skies with Europe and the US, we face bilateral limits in Asia,' Al-Meer explained.
'To create balance between East and West, we have developed partnerships with Virgin Australia, Malaysia Airlines, and other regional carriers.'
The official expounded that many airlines are opting to refurbish older aircraft to remain competitive. 'Smaller carriers are shrinking, and the stronger ones like us are capturing a greater share of the market,' he said.
Al-Meer also reflected on the airline's financial performance, which reached QR7.85bn ($2.15bn) in the Fiscal Year 2024-25.
'This April was the best in our history, and May is expected to set another record. With advanced bookings, we are confident Q1 will outperform the same quarter last year by a significant margin,' he stated.
Al-Meer added, 'We have taken calculated risks, expanded into new markets, and thought outside the box. While revenue grew by 6 to 8 percent, net profit jumped 28 percent, a testament to our team's ability to drive efficiency and unlock new revenue streams.'
© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
7 minutes ago
- Zawya
Airlines forecast profit growth in 2025, headwinds persist
The International Air Transport Association (Iata) has released its updated outlook for 2025, forecasting stronger profitability for airlines over 2024, despite continued global economic and geopolitical challenges. Source: Archive The industry is expected to post a net profit of $36.0bn in 2025, an increase from the $32.4bn projected for 2024, though slightly below the $36.6bn estimate made in December 2024. The net profit margin will improve from 3.4% to 3.7%, while operating profits are forecast to rise to $66.0 bn from $61.9bnn the previous year. Total revenues are set to reach a record $979bn, up 1.3% year-on-year, driven by strong demand, with passenger numbers climbing to an all-time high of 4.99 billion, representing a 4.0% increase on 2024. Cargo volumes will also edge up by 0.6% to 69 million tonnes. "The first half of 2025 has brought significant uncertainties to global markets. Nonetheless, by many measures, including net profits, it will still be a better year for airlines than 2024, although slightly below our previous projections. "The biggest positive driver is the price of jet fuel, which has fallen 13% compared with 2024 and 1% below previous estimates," says Willie Walsh, Iata's director general. Passenger demand and revenues climb Passenger load factors are set to reach a record 84.0%, reflecting capacity constraints from persistent supply chain bottlenecks affecting fleet deliveries and maintenance. Total passenger revenues will hit a record $693 billion, a 1.6% increase, including a notable 6.7% rise in ancillary revenues to $144 billion. Passenger traffic, measured in Revenue Passenger Kilometres (RPKs), is expected to expand by 5.8%, with average airfares easing as passenger yields decline by 4.0% in response to falling oil prices and competitive pricing pressures. The average return airfare, adjusted for inflation, will drop to $374, about 40% lower than 2014 levels in real terms. In a recent April 2025 IATA passenger poll, 40% of respondents indicated they planned to travel more in the year ahead, while 53% said they would travel the same as before. Encouragingly, 47% expressed an intention to spend more on travel, underscoring continued consumer appetite for air journeys despite economic headwinds. Cargo revenue dips amid slower growth On the cargo side, revenues are projected to fall by 4.7% to $142bn due to a softening global economy and growing protectionism. Cargo growth will slow to 0.7%, following an 11.3% expansion in 2024, as yields are anticipated to decline by 5.2%. However, cargo demand remained resilient into April 2025, up 5.8% year-on-year. Airlines' total expenses will climb to $913bn, a 1.0% increase, though this will be offset by a lower fuel bill of $236bn, with average jet fuel prices expected at $86 per barrel, down from $99 the previous year. Sustainable Aviation Fuel (SAF) production is set to double to 2 million tonnes, accounting for 0.7% of total fuel use, though high SAF prices — more than 4.2 times the cost of conventional jet fuel — remain a challenge, compounded by European compliance fees. 'The behaviour of fuel suppliers in fulfilling the SAF mandates is an outrage. The cost of achieving net-zero carbon emissions by 2050 is estimated to be an enormous $4.7t. Fuel suppliers must stop profiteering on the limited SAF supplies available and ramp up production to meet the legitimate needs of their customers,' Walsh commented. The cost of Corsia carbon credits is expected to rise to $1bn in 2025, though currently only Guyana has issued the high-quality credits required by the scheme. Delivery delays and engine issues persist Aircraft manufacturers continue to grapple with backlogs exceeding 17,000 aircraft, pushing waiting times for new orders to as long as 14 years. Deliveries are forecast to reach 1,692 aircraft in 2025 — the highest since 2018 — yet this remains 26% below earlier estimates. Engine supply chain problems have grounded over 1,100 aircraft under 10 years old, equivalent to 3.8% of the global fleet, primarily due to PW1000G engine issues. "Manufacturers continue to let their airline customers down. Every airline is frustrated that these problems have persisted so long. And indications that it could take until the end of the decade to fix them are off-the-chart unacceptable!" Walsh stresses. Regional outlook North America leads, Africa lags Regionally, North America will maintain the highest absolute profit, though airlines face economic slowdown and operational constraints. In Europe, robust demand, especially from low-cost carriers, and a stronger Euro are bolstering performance. Asia Pacific is benefitting from relaxed visa policies and improved capacity on China-US routes, while Latin America's prospects remain mixed amid local currency weakness and a proposed Brazilian VAT increase on air travel. Middle Eastern carriers will achieve the highest profit per passenger carried, although growth is hampered by aircraft delivery delays, and Africa continues to face the toughest conditions due to high operational costs, fleet shortages, and access to foreign currency. Public support and climate goals Public sentiment toward air travel remains positive, with IATA's April poll showing 97% of travellers satisfied with their journeys, and 90% believing air connectivity is essential for modern life and economic development. Confidence in the sector's climate ambitions also remains strong, with 81% of travellers trusting airlines' commitment to achieve net-zero CO2 by 2050, far outpacing confidence in government and oil company climate strategies. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Zawya
an hour ago
- Zawya
Global Industrial Property Enters New Phase as Supply Chains Shift and Landlords Expected to Gain Ground
The Logistics Real Estate Market on the Chinese Mainland Shows Signs of Stabilization Amid Ongoing Consumer and Industrial Demand HONG KONG SAR - Media OutReach Newswire - 10 June 2025 - Cushman & Wakefield (NYSE: CWK) has published its inaugural global logistics and industrial outlook, ' Waypoint 2025 ', which highlights a significant shift in the sector as global supply chains are reconfigured and cost pressures evolve. Drawing on insights from more than 120 markets worldwide, the report shows that in the near term, the balance of power is tilting towards landlords, with wide-reaching implications for occupiers, investors, and developers. The research reveals that globally, the proportion of tenant-favourable markets is expected to fall sharply from 52% today to just 28% by 2028. This change is being driven by constrained supply, robust demand, and rising costs across key inputs such as rent, labour, construction materials, and electricity. At the same time, landlord-favourable markets are forecast to rise from 24% to 35%, signalling a more competitive leasing environment in the years ahead for occupiers. In Asia Pacific (APAC), fundamentals remain strong but market conditions are becoming more nuanced. The region currently offers more balanced conditions, with 24% favouring landlords and 33% favouring tenants. Over the next three years, markets in the region are expected to move away from a balanced, neutral position toward more polarising tenant- and landlord-favourable market conditions. Neutral markets are expected to decline to 29% from the current 42%, while tenant-friendly markets are anticipated to grow to 38% from 33%. Similarly, landlord-favourable markets are expected to rise to 33%, up from 24%. Dr. Dominic Brown, Head of International Research at Cushman & Wakefield said, " Asia Pacific markets are diverging, with Australia and Southeast Asia seeing a shift towards landlord-favourable conditions, while other parts of the region face rising vacancies and tenant-friendly dynamics. Nevertheless, 62% of APAC markets still expect rental growth in the next three years, driven by robust occupier demand, strategic manufacturing shifts and the region's cost competitiveness in labour and energy." In terms of labour costs, APAC remains highly competitive, with countries like India, Vietnam, Philippines, and Indonesia having significantly lower wages. China has moved toward higher value-added manufacturing, with wages around 50% of the global average. Another highlight of the report is that general manufacturing, retail distribution and e-commerce distribution are the top three key drivers of demand for logistics and industrial space in Asia Pacific. This is very much aligned to what is being seen across the world. High-tech and automotive manufacturing have also been identified as drivers of occupier demand in APAC over the next three years. Dennis Yeo, Head of Investor Services and Logistics & Industrial, APAC, Cushman & Wakefield said:"Asia Pacific continues to demonstrate resilience, with markets such as India and Vietnam seeing sustained occupier demand. However, rising vacancy in some subregions, driven by a surge in new supply means that a one-size-fits-all approach no longer works. Businesses must adopt granular, market-specific strategies that account for local cost structures, infrastructure readiness, and automation potential." The logistics market on the Chinese mainland continued its path to stabilization and recovery in 2024, underpinned by favourable structural drivers. Key catalysts include the emergence of industrial clustering, the acceleration of new logistics productivity, and a more balanced supply-demand environment, all of which are reinforcing the market's long-term fundamentals. In the consumer segment, the rapid rise of new e-commerce formats — notably live-streaming commerce and instant retail — has been instrumental in driving online consumption. Combined with the effective rollout of consumer goods trade-in policies, these trends have led to sustained growth in online retail sales of physical goods, bolstering demand for high-quality logistics infrastructure. On the industrial front, strong logistics demand for industrial goods has been observed, supported by continued manufacturing activity and supply chain modernization. This dual-sector momentum — consumer and industrial — is injecting fresh vitality into the premium logistics warehouse market, reinforcing its status as a core asset class in the evolving logistics ecosystem on the Chinese mainland. Tony Su, Managing Director, Head of Industrial & Logistics Property Services, China, Cushman & Wakefield said: " The transformation and upgrading of key industries are fueling renewed demand for warehouse space. This resurgence in leasing activity is expected to absorb incoming supply efficiently, supporting steady growth in both occupancy levels and rental rates—particularly within the premium logistics warehouse segment. These dynamics position the sector for healthier and more sustainable long-term development." The report concludes that resilience and diversity in supply chains will be essential for navigating both short- and long-term market shocks. Businesses that act decisively and strategically will be best placed to thrive in this evolving industrial landscape. The full report, including regional breakdowns of rental levels, market conditions and vacancy projections, energy and labour cost comparisons, and analysis of demand drivers such as e-commerce and manufacturing, is available at Waypoint 2025. Note to Editors 'Waypoint 2025' is Cushman & Wakefield's inaugural global logistics & industrial research report which includes results from a survey of Cushman & Wakefield logistics and industrial market-facing colleagues for 127 markets worldwide. The survey was conducted from 7-18th April 2025, after the Trump Administration announced the suspension of most higher tariff rates for 90 days, while maintaining the 10% levy on nearly all global imports. Please click here to download photos. Hashtag: #Cushman&Wakefield The issuer is solely responsible for the content of this announcement. About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit or follow us on LinkedIn ( Cushman & Wakefield
Zawya
4 hours ago
- Zawya
Qatar scores another first with installation of world's largest 3D construction printer
Doha, Qatar: The largest 3D construction printer in the world has been installed at a school construction site in Doha. The first of the two BODXL printers, measuring 50m x 30m x 15m (the size of a Boeing 737 hangar), manufactured by COBOD International and operated by UCC Holding, was revealed during a special VIP event recently. The successful installation of the printer, which is over four times larger than the next largest 3D construction printer ever developed, occurs less than 10 months after UCC Holding and Denmark's COBOD, the foremost manufacturer of concrete 3D printers globally, signed a contract on September 18, 2024 to provide the world's largest third-generation 3D printers intended for school construction in Qatar. As stated in a LinkedIn post by UCC Holding, the printer will be utilised in the construction of two public schools in Doha, each covering 20,000 sqm, resulting in a total of 40,000 sqm, thus establishing this as the largest 3D printed construction project in the world to date. With its vast scale, the BODXL can print a building footprint of 1,500 square metres and structures reaching up to five floors, culminating in a total built-up area of 7,500 square meters. According to VoxelMatters — an independent resource for additive manufacturing industry news — the installation of the printer is merely the beginning as a second BODXL printer, identical in dimensions, is already on its way to Qatar and is scheduled to be installed later this month at the same site. Once both machines are fully operational, they will work together to create the largest 3D printed building in the world—a multi-thousand square metre school for Qatar's Public Works Authority, Ashghal, VoxelMatters reported. The simultaneous deployment of these cutting-edge printers is a pivotal element of what is poised to become the largest 3D construction automation initiative in the world. The educational facility, spanning approximately 40,000 square metres across two locations, is set not only to establish new records but also to transform expectations regarding speed, sustainability, and accuracy in architectural design and implementation. This endeavour is anticipated to achieve recognition from Guinness World Records as the largest edifice constructed using 3D printing technology. Beyond its ambitious dimensions, the project is in harmony with Qatar's long-term sustainability objectives as outlined in the Qatar National Vision 2030, as it significantly minimises material waste and curtails the carbon footprint in comparison to conventional construction practices. Employing COBOD's third-generation BODXL machines introduces a high degree of automation and digital accuracy to the construction process. This system guarantees expedited project completion and enhanced resource efficiency by diminishing the reliance on manual labour and traditional materials. VoxelMatters reported that Henrik Lund-Nielsen, the CEO and founder of COBOD International, emphasised that the collaboration with UCC Holding signifies a major technological and environmental progress. He praised the scale of the project and its ability to initiate a new phase of intelligent, sustainable construction efforts worldwide. Leaders at UCC Holding also expressed their pride in promoting this ambitious and forward-thinking project, placing Qatar at the forefront of global innovation in civil engineering. Construction operations utilising the printer are anticipated to increase significantly during 2025, resulting in the realisation of a forward-thinking educational institution through advanced engineering techniques. This initiative for the Doha school is not merely a construction achievement; it is projected to be the inaugural project in a succession of large-scale buildings that can be developed swiftly, cost-effectively, and with reduced environmental consequences via 3D printing. The printers are expected to operate at the fastest printing speed possible, ensuring rapid completion while maintaining high standards of safety and sustainability. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
