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Free Malaysia Today
19-05-2025
- Business
- Free Malaysia Today
Qatar Airways reports record US$2bil annual profit
In 2024, Qatar Airways reported a net profit of US$1.7 billion, up 39% from the previous year. (EPA Images pic) DOHA : Qatar Airways posted a 28% jump in annual net profit to a record US$2.15 billion today, days after sealing a major Boeing deal during US President Donald Trump's visit.'These record-breaking results are a testament to the hard work, skill and dedication of teams across all of Qatar Airways Group,' said the state-owned carrier's chief executive, Badr Mohammed Al-Meer. Qatar Airways Cargo, the group's air freight service, saw revenues increase by 17% on the year before, the airline said. 'We have also successfully implemented strategic partnerships throughout the industry, in order for the Group to remain agile in the face of ever-shifting world events,' Al-Meer added in his statement. In Doha during a multi-stop tour of the Gulf last week, Trump hailed a 'record' Qatar Airways order for 160 planes from Boeing as he signed a number of deals alongside Qatar's emir. The White House later said Qatar Airways would honour a 'US$96 billion agreement to acquire up to 210 American-made Boeing 787 Dreamliner and 777X aircraft powered by GE Aerospace engines'. The order is comprised of 130 Dreamliner planes and 30 Boeing 777-9 jets, which are still being certified by the US Federal Aviation Administration. 'The order also includes options for 50 additional 787 and 777X planes,' Boeing and Qatar Airways said in statements. In February, Australian authorities approved a Qatar Airways acquisition of a 25% stake in troubled airline Virgin Australia, injecting foreign competition into the country's aviation sector dominated by national carrier Qantas. In August last year, Qatar Airways acquired a 25% stake in Airlink, an independent Southern African carrier. In 2024, the Qatari airline reported a US$1.7 billion net profit following an annual increase of 39%, another record.
News.com.au
15-05-2025
- Business
- News.com.au
Trump to close deal-making Gulf tour in UAE
US President Donald Trump on Thursday closes a Middle East tour in the United Arab Emirates as he focuses squarely on seeking deals after billions of dollars of pledges from Saudi Arabia and Qatar. The first major trip of his second term had been scheduled to end Thursday but Trump, always ready with surprises, did not rule out continuing on to Turkey if Russian President Vladimir Putin shows up for talks with Ukraine. Trump will fly to the Emirati capital Abu Dhabi after a stop in Qatar, where the president hailed what he said was a record $200 billion deal for Boeing aircraft. He started the trip in Saudi Arabia which promised its own $600 billion in investment, including one of the largest-ever purchases of US weapons. The Gulf leaders' largesse has also stirred controversy, with Qatar offering Trump a luxury aeroplane ahead of his visit for presidential and then personal use, in what Trump's Democratic rivals charged was blatant corruption. Trump, who also chose Saudi Arabia for the opening visit of his first term, has been unabashed about seeking Gulf money and hailed the effect on creating jobs at home. In a speech in Riyadh, Trump attacked not only Democrats but also the traditional wing of his own Republican Party, which had championed US military intervention in Afghanistan and Iraq. Complimenting the skyline of the Saudi desert capital, Trump said: "The gleaming marvels of Riyadh and Abu Dhabi were not created by the so-called 'nation-builders', 'neocons' or 'liberal non-profits', like those who spent trillions failing to develop Kabul and Baghdad." "Instead, the birth of a modern Middle East has been brought about by the people of the region themselves," he said. "In the end, the so-called 'nation-builders' wrecked far more nations than they built." - Silent on rights - Trump steered clear of any hint of criticism of the Gulf monarchies on human rights. Trump's predecessor Joe Biden had initially vowed to shun Saudi Arabia's Crown Prince Mohammed bin Salman over US intelligence findings that he ordered the gruesome murder in 2018 of Jamal Khashoggi -- a Saudi dissident writer who lived in the United States. Trump instead hailed the crown prince, who is Saudi Arabia's de facto ruler, as a visionary due to the kingdom's rapid economic investments. Trump also acceded to a key request by the crown prince in announcing a lifting of sanctions on Syria following the toppling of Bashar al-Assad in December. He met in Riyadh with Ahmed al-Sharaa, a former Islamist guerrilla once on the US wanted list who dressed in a suit and was complimented by Trump as a "young, attractive guy". Trump was joined in the meeting by Prince Mohammed and, virtually, by Turkish President Recep Tayyip Erdogan, the key supporter of the former Syrian rebels. Trump said Wednesday he was willing to travel to Turkey if Putin accepts an offer by Ukrainian President Volodymyr Zelensky to meet on ending the war. Russia has given no indication that Putin will attend. Trump said that Secretary of State Marco Rubio would travel nonetheless to Istanbul for the potential talks.
Al Arabiya
15-05-2025
- Business
- Al Arabiya
Trump to close deal-making Gulf tour in UAE
US President Donald Trump on Thursday closes a Middle East tour in the United Arab Emirates as he focuses squarely on seeking deals after billions of dollars of pledges from Saudi Arabia and Qatar. The first major trip of his second term had been scheduled to end Thursday, but Trump, always ready with surprises, did not rule out continuing on to Turkey if Russian President Vladimir Putin shows up for talks with Ukraine. Trump will fly to the Emirati capital Abu Dhabi after a stop in Qatar, where the president hailed what he said was a record 200 billion dollar deal for Boeing aircraft. He started the trip in Saudi Arabia, which promised its own 600 billion dollars in investment, including one of the largest-ever purchases of US weapons. The Gulf leaders' largesse has also stirred controversy, with Qatar offering Trump a luxury airplane ahead of his visit for presidential and then personal use, in what Trump's Democratic rivals charged was blatant corruption. Trump, who also chose Saudi Arabia for the opening visit of his first term, has been unabashed about seeking Gulf money and hailed the effect on creating jobs at home. In a speech in Riyadh, Trump attacked not only Democrats but also the traditional wing of his own Republican Party, which had championed US military intervention in Afghanistan and Iraq. Complimenting the skyline of the Saudi desert capital, Trump said: 'The gleaming marvels of Riyadh and Abu Dhabi were not created by the so-called 'nation-builders,' 'neocons' or 'liberal non-profits,' like those who spent trillions failing to develop Kabul and Baghdad.' 'Instead, the birth of a modern Middle East has been brought about by the people of the region themselves,' he said. 'In the end, the so-called 'nation-builders' wrecked far more nations than they built.' Trump hailed Saudi Arabia's Crown Prince Mohammed bin Salman, who is Saudi Arabia's de facto ruler, as a visionary due to the kingdom's rapid economic investments. Trump also acceded to a key request by the Crown Prince in announcing a lifting of sanctions on Syria following the toppling of Bashar al-Assad in December. Trump was joined in the meeting by the Crown Prince and, virtually, by Turkish President Recep Tayyip Erdogan, the key supporter of the former Syrian opposition forces. Trump said Wednesday he was willing to travel to Turkey if Putin accepts an offer by Ukrainian President Volodymyr Zelenskyy to meet on ending the war. Russia has given no indication that Putin will attend. Trump said that Secretary of State Marco Rubio would travel nonetheless to Istanbul for the potential talks.
