
Wizz Air to exit Abu Dhabi operations citing geopolitical developments
Wizz Air will focus on its core Central and Eastern European markets, as well as countries such as Austria, Italy and the UK, it said.
'Supply chain constraints, geopolitical instability, and limited market access have made it increasingly difficult to sustain our original ambitions,' Wizz Air CEO Jozsef Varadi said in a statement.
'While this was a difficult decision, it is the right one given the circumstances,' he added.
Read more:
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


ArabGT
2 hours ago
- ArabGT
How BMW's Sub-Brands Saved the Day in 2025
BMW has always stood tall as a beacon of German engineering, elegance, and automotive performance. Yet, the second-quarter 2025 results delivered a curveball that few anticipated. Contrary to what many might assume, it wasn't the core BMW brand that carried the Bavarian empire forward—it was the power of its sub-brands that injected new life into the group's performance. Leading this charge were BMW M, MINI, and Rolls-Royce, each carving out a unique path to customer loyalty and sales dominance. M Division: Where Performance Translates into Sales BMW M continues to be a force to reckon with, redefining how performance cars connect with the market. The M4, M3, and the recently introduced M2 have seen a notable surge in demand, driven by their ability to blend dynamic handling with cutting-edge technology. This sub-brand has transcended its traditional niche audience, becoming a desirable badge across demographics that value precision, speed, and digital sophistication. MINI: Compact, Iconic, and Electrified While many automakers chase bigger dimensions, MINI thrives by staying true to its roots—compact cars with bold personality. Its design heritage and the evolution into electrification, particularly with the MINI Cooper SE, have helped rejuvenate its global footprint. The latest generation, featuring sleek digital interiors and forward-thinking styling, has resonated with younger, urban buyers eager for both character and eco-friendliness. Rolls-Royce: Resilience in Ultra-Luxury Rolls-Royce remains untouched by economic tides. Despite premium pricing, models like the electric Spectre and the stately Cullinan continue to find eager buyers—especially across high-net-worth regions like the Middle East and North America. The brand's unwavering commitment to craftsmanship and exclusivity ensures it remains a cornerstone of BMW Group's prestige and profit. The BMW Brand Stumbles—For Now In contrast, the core BMW brand experienced a mild decline in sales during the same quarter, sparking questions about its direction in an increasingly crowded premium market. Though it has introduced standout models such as the electric iX and the redesigned 5 Series, intense rivalry from Tesla, Audi, and Mercedes appears to be dampening momentum. Geographic Shifts: China Rises, Europe Retreats Regional dynamics paint an intriguing picture. Sales dropped sharply in Europe—where regulatory shifts and cost pressures drive consumers toward electric options—while China and North America offered bright spots. China, in particular, is proving to be a vital growth engine for the brand's EV offerings. EVs Quietly Fuel the Charge Electric vehicles are becoming the unsung heroes of BMW's evolving portfolio. Models like the iX1, iX3, and i4 have played a pivotal role in expanding the customer base, especially in markets where demand for cleaner, connected vehicles is growing rapidly. Collectively, EV sales surged by over 35% year-on-year—an indicator that the brand's electric strategy is gaining serious ground. Looking Ahead: A Strategic Turning Point What these results underline is a quiet shift in power dynamics within the BMW Group. Sub-brands are no longer secondary—they're becoming the key drivers of performance. Will BMW rethink its strategy to reflect this change? Could the next phase be led by the likes of MINI, M, and Rolls-Royce? Or does the core brand still hold a revolutionary EV ace up its sleeve?


ArabGT
2 hours ago
- ArabGT
BYD Targets Saudi Arabia in Bold Move to Challenge Tesla
As the global automotive market undergoes rapid transformation, competition is no longer limited to traditional regions like Europe and North America. Now, Chinese automaker BYD has set its sights squarely on the Kingdom of Saudi Arabia, driven by an ambition nothing short of dominating one of the region's most complex and demanding markets. While electric vehicles still represent a small fraction of car sales in the Kingdom, BYD is moving forward confidently, aiming to take the lead as the landscape begins to shift. Global momentum beyond Tesla BYD's rise to this level of ambition didn't happen by chance. In recent months, the company has overtaken Tesla in several key markets, most notably in Europe, where it outsold Tesla in fully electric vehicles for the first time last April. This achievement affirms that BYD is no longer just a competitor—it is a major player reshaping the global EV landscape. Saudi Arabia: The new battleground Despite the many challenges facing EV adoption in Saudi Arabia—from high prices and weak charging infrastructure to extreme temperatures—BYD views the Kingdom as a major strategic opportunity. Electric vehicles currently account for just over 1% of total sales, but the company sees this as a golden window to establish an early presence and build local consumer trust. A rapidly expanding retail network Since its entry into the Saudi market last year, BYD has opened three showrooms and plans to grow that number to ten by mid-2026. The company's general manager in Saudi Arabia, Jerome Saigot, stated that BYD aims to sell over 5,000 vehicles in the Kingdom in 2025, emphasizing that this is just the beginning. 'We're not here to settle for 5,000 or 10,000 cars a year. We're aiming much higher,' Saigot told the press. A two-pronged strategy: Market momentum and Vision 2030 alignment BYD's strategy relies on two core factors. First, it's leveraging the momentum created by Tesla's market entry, marked by the opening of its first showroom in Riyadh this past April, which has raised public awareness around electric vehicles. BYD believes this growing awareness benefits the entire sector and opens the door for real competition. Second, BYD's goals align perfectly with Saudi Arabia's ambitious plan to become a regional hub for electric vehicles—driven by significant investment from the Public Investment Fund. From supporting Lucid's factory, to launching the local EV brand 'Ceer,' to expanding the national charging network, the government is building an ecosystem in which companies like BYD are poised to thrive. Will BYD succeed in asserting its dominance? The stakes are high—and so are the risks. But BYD is leaving nothing to chance. With the support of Al-Futtaim Motors, its official distributor in Saudi Arabia, a rapidly growing presence, a calculated strategy, and alignment with local transformation efforts, the Chinese automaker appears poised not just to compete, but to lead. If Saudi Arabia continues its push toward electrification, BYD may find itself at the forefront sooner than anyone expects.


ArabGT
2 hours ago
- ArabGT
Porsche Prices Climb Again as Market Pressures Mount
If you've been eyeing a new Porsche, brace yourself—Porsche prices are on the rise once more. The automaker has issued its second price hike in just four months, with increases ranging from 2.3% to 3.6% across its entire model range. Blaming 'market conditions,' Porsche says the decision was necessary to absorb growing external costs. A company spokesperson stated, 'With our customers front of mind, we keep a regular watch on market conditions, absorbing costs where we can and making adjustments only when absolutely necessary.' That means Porsche prices are now higher not only for the vehicles themselves, but also for options, delivery fees, and custom features. What's New in Porsche Prices? Here's a quick look at how Porsche prices have shifted: 2026 Porsche 911 Carrera : Now $134,650 (up from $129,950) 2026 Porsche Panamera : Now $112,450 (up from $108,550) 2026 Porsche Cayenne : Now $91,950 (up from $88,795) 2026 Porsche Macan : Now $66,950 (up from $65,350) 2026 Porsche Taycan : Now $106,250 (up from $102,550) 2025 Porsche 718 Cayman: Now $77,395 (up from $74,795) Even higher-performance variants weren't spared. The 911 GT3 and GT3 Touring now start at $234,550, a jump of nearly $9,800. Why Are Porsche Prices Going Up? While Porsche didn't directly name tariffs as a reason, the pricing shifts come amid continued trade tension and global cost volatility. Porsche manufactures all its vehicles overseas—mostly in Germany, with Cayenne production also in Slovakia—making it vulnerable to import duties and currency fluctuations. Existing 25% tariffs on imported vehicles and the threat of additional increases add further pressure on Porsche prices. Options and Fees Also Affected The price hike isn't limited to the base vehicle itself. Porsche confirmed that individual option costs and delivery charges are also being revised. This means the final transaction price for many buyers could exceed the stated 3.6% increase—especially for customized builds with premium add-ons. Sales Slowdown Adds More Pressure Porsche's global sales are under stress, particularly in China where domestic brands are dominating and international automakers are losing ground. Meanwhile, consumer interest in electric models like the Taycan and the upcoming Macan EV has not met expectations, especially in the U.S., where the EV adoption rate remains slower than anticipated. Despite these hurdles, Porsche remains firm in its pricing strategy, reaffirming that Porsche prices reflect both premium quality and necessary business adjustments. Looking Ahead The rising Porsche prices illustrate how even top-tier luxury brands aren't immune to economic shifts. For buyers, the message is clear: if you're planning to purchase a Porsche, today's price may be the lowest you'll see for a while. While many loyal customers are unlikely to be deterred by modest increases, the real question is how long Porsche can maintain its pricing power in a rapidly evolving global market.