Latest news with #GulfAir
The National
3 days ago
- Business
- The National
Travel bookings recovering after airspace closure during Israel-Iran conflict, says Gulf Air boss
Gulf Air is recording an increase in travel demand following a dip in passenger volumes after Bahrain and other Gulf countries briefly closed their airspace during the height of the Israel-Iran war. Bookings for the end of July and August are recovering after passengers cancelled or postponed their travel plans in June, Jeffrey Goh, chief executive of Gulf Air Group Holding, told The National. 'We were affected by the regional tensions in June and that affected demand clearly and affected passenger numbers but overall, in terms of where we fly to and from, demand is reasonable in terms of our outlook,' he said. Several Gulf countries temporarily closed their airspace on June 23 due to an Iranian attack on the US airbase Al Udeid in Qatar. Airlines scrambled to cancel flights and reroute planes, disrupting air travel across the region. The Bahrain airspace closure led to cancellations for the Manama-based airline, but passengers are now travelling into and through the Gulf region on a 'deferral basis', Mr Goh said. 'Those who had looked to travel in early July are pushing [their dates] to August. So we're seeing the numbers picking up again from the end of July and well into August,' he said. The broader challenge is to address the concerns of transit passengers from the East and West over whether it is safe to fly through hubs in the Middle East, Mr Goh added. 'Inevitably and unfortunately, we will not be able to correct that perception 100 per cent,' but organisations including Gulf Air, Bahrain's tourism authorities and local hotels are working to spread awareness about security in the region. This will 'take a bit of time' but the aviation industry has proven its resilience in stimulating demand and attracting transit passengers and visitors to the region, he said. Overall, demand in Asian markets is 'healthy', but some parts of the network are weaker and require stimulation including through competitive air fares. 'But overall in terms of volume, we see a reasonable, steady pace,' he said. Boeing 787 plane order Gulf Air last week agreed to buy 12 Boeing 787 Dreamliners, with the option for an additional six. Mr Goh praised the new leadership of Boeing under chief executive Kelly Ortberg for steering the company's turnaround after years of challenges. 'There is progress in terms of improving Boeing's performance and improving Boeing's aircraft production,' he said. 'It cements the partnership we've had for many years.' The airline needed to 'join the queue for new aircraft today' because it takes manufacturers an average of up to seven years to deliver them. Gulf Air is finalising the exact delivery dates and is looking at 'early 2030s', Mr Goh said. At least 30 per cent of the order will be used to increase its fleet, while the rest will replace the older 787 widebodies to ensure a 'relatively young' average age of 6.8 years, he added. The airline operates 10 Boeing 787-9s, with two more to be delivered in 2026 and 2027. 'In the new order we have the option of including the [bigger] 787-10s in the fleet, but we don't need to decide now,' Mr Goh said. The new 787 order will also allow Gulf Air to boost capacity on popular long-haul destinations by replacing narrow-body aircraft with the wide-body planes, he said. 'Slots are a premium in some of these locations where you're not able to add more frequencies, so the alternative for us is to upgrade the capacity,' he said. Gulf Air also operates a fleet of Airbus A320s and A321s, with eight more narrowbodies to be delivered between 2025 and 2027. 'I don't foresee significant expansion of the narrow-body fleet at this time,' Mr Goh said, when asked about a potential order. The airline last week announced it would start flights from Bahrain to New York's John F Kennedy Airport in October. Gulf Air has a road map for the next five years as part of its 'calibrated, disciplined growth' and the announcement of new destinations such as New York is a 'manifestation' of that strategy to connect key business cities, leisure markets and religious centres, Mr Goh said. GE vs Rolls-Royce engines Gulf Air's new 787 aircraft will be powered by GE engines, a departure from previous purchases powered by Rolls-Royce engines. 'It was a very close call,' Mr Goh said. 'It required a lot of extensive internal deliberations and understanding the advantages and disadvantages of both engine types. It took us quite some time.' He said the evaluation was based on engine reliability, performance, fuel efficiency and time on wing (or the time the engine stays in workshops). The two 787s to be delivered in 2026 and 2027 will be fitted with GE engines, he added. The current 10 Boeing 787s operated by Gulf Air are equipped with Rolls-Royce's Trent 1000 engines. GE has a major market share on the 787 model while Rolls-Royce has long grappled with technical issues. However, the UK engine maker is upgrading the engine to make it more reliable. US tariffs and plane costs The Gulf Air chief said it is 'too early' to determine the impact of US tariffs on the cost of planes but the industry is watching closely. 'We've negotiated an all-encompassing price for our aircraft orders. What Boeing does with the [additional tax percentage] in terms of any parts they need to import to manufacture the aircraft is a matter for Boeing,' Mr Goh said. 'We are comfortable with the acquisition price.' However, the wider aviation industry is concerned about the impact of tariffs on the cost of parts and airframes. Also, the economic uncertainty stemming from the tariffs could hit consumer sentiment and corporate confidence, thereby dampening travel demand. 'We need to be very vigilant about the impact of these tariffs. We should be concerned about the general economic outlook for the industry," he said. 'If corporations are concerned about what the cost of business will look like, travel is often one of the first areas of discretionary spending that you address as a company.'
Gulf Insider
5 days ago
- Business
- Gulf Insider
Gulf Air Orders 12 Boeing 787 Dreamliners With Options For Six Additional Aircraft
Boeing and Gulf Air have announced an agreement for the purchase of 12 787 Dreamliner jets with options for six more as the Bahrain-based airline seeks to develop its international network further. The order will bring the carrier's firm order book to 14 of the widebody jets and will support 30,000 jobs across the United States once finalised. Bahrain Minister of Finance and National Economy Shaikh Salman bin Khalifa Al Khalifa and U.S. Commerce Secretary Howard Lutnick joined Boeing Commercial Airplanes President and CEO Stephanie Pope and Gulf Air Group Chairman Khalid Taqi to witness the signing. The flag carrier of Bahrain will grow its all-787 widebody fleet, adding up to 18 787 Dreamliners to its widebody fleet. 'This agreement marks a transformative step in Gulf Air's strategic growth journey as we expand our global footprint and modernize our fleet with one of the industry's most advanced and efficient aircraft,' Khalid Taqi, chairman of Gulf Air Group said in a statement. 'The Boeing 787 Dreamliner has proven to be an exceptional aircraft for our long-haul operations, and this new order reflects our confidence in its performance, passenger appeal and contribution to our sustainability goals. We are proud to deepen our partnership with Boeing and reaffirm our commitment to positioning Bahrain as a key global aviation hub,' he added. The 787 Dreamliner serves as the backbone of Gulf Air's long-haul operations, connecting over 50 destinations. With 10 787 airplanes in service, the airline is positioned to grow its network, serving new and existing markets across Asia, Europe and the United States. 'We are excited to build on our more than 60-year partnership with Gulf Air as we deliver the market-leading 787 Dreamliner to help the airline serve more passengers and connect more destinations,' Stephanie Pope, president and CEO of Boeing Commercial Airplanes explained, adding that this investment in the 787 Dreamliner 'demonstrates Gulf Air's commitment to new technology and sustainable development, reinforcing Bahrain's position in the aviation sector.' The 787 Dreamliner family has transformed global air travel by opening over 425 new nonstop routes and carrying more than 1 billion passengers worldwide since its commercial introduction in 2011. As Gulf Air's flagship airplane, the 787 features the largest windows of any widebody jet, air that is less dry and pressurised at a lower cabin altitude for comfort, and technology that senses and counters turbulence for a smoother ride. From its first DC-3 in 1961, Gulf Air has taken delivery of 37 Boeing airplanes, including the 787 jets currently in its fleet. Boeing is a leading global aerospace company and top U.S. exporter. The company develops, manufactures and services commercial airplanes, defence products and space systems for customers in more than 150 countries.
CairoScene
6 days ago
- Business
- CairoScene
Gulf Air Launches Direct Flights from Bahrain to New York
The route will operate three times per week with Boeing 787-9 Dreamliners, departing from Bahrain International Airport. Gulf Air, the national carrier of Bahrain, is set to launch direct flights to New York (JFK) beginning October 1, 2025. The new route will operate three times a week using Boeing 787-9 Dreamliner aircraft. Initially flying into JFK's Terminal One, Gulf Air plans to move operations to the airport's upcoming New Terminal One in June 2026, enhancing the travel experience in line with its premium service standards. Passengers can book flights through the Gulf Air website, mobile app, or travel agents.
Yahoo
6 days ago
- Business
- Yahoo
Boeing (BA) Secures Gulf Air Order for 12 787 Dreamliners to Expand Global Reach
Boeing recently secured a significant agreement with Gulf Air for the purchase of 12 Boeing 787 Dreamliner jets, potentially expanding to 18, a move supporting approximately 30,000 U.S. jobs. Over the past quarter, Boeing's share price soared by 43%, a substantial increase, potentially influenced by this deal and strong demand for its aircraft from Qatar Airways and China Airlines. This rise was further supported by Boeing's improved financial performance, with a notable reduction in net loss during Q1 2025. These positive developments align with the broader market trend of strength driven by robust corporate earnings and solid economic data. We've spotted 3 risks for Boeing you should be aware of, and 1 of them is a bit concerning. The latest GPUs need a type of rare earth metal called Dysprosium and there are only 26 companies in the world exploring or producing it. Find the list for free. The recent agreement Boeing secured with Gulf Air for up to 18 Boeing 787 jets is expected to bolster its revenue stream, supporting the narrative of stabilized production and expanding demand. This aligns with Boeing's strategy to increase production rates of the 737 and 787 models and maintain a strong backlog. Over the past three years, Boeing's total shareholder return was 43.11%, showcasing solid growth compared to the US Market's 14.1% return over the past year, although it underperformed the US Aerospace & Defense industry, which returned 43.2% over the same period. The Gulf Air contract, coupled with strong aircraft demand, could positively impact Boeing's future revenue forecasts, potentially aligning with analysts' expectations of a 17.3% annual revenue growth over the next three years. Earnings forecasts also hinge on Boeing's efforts to manage risks such as tariffs and supply chain challenges. With a consensus price target of US$232.82 and a current share price of US$231.00, Boeing is trading slightly below the target, suggesting analysts view it as close to fairly valued at current levels. Learn about Boeing's historical performance here. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include BA. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Daily Tribune
6 days ago
- Business
- Daily Tribune
The clear proof of strong friendship
Member of Parliament Hassan Ibrahim has welcomed the suite of major agreements signed by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, during his official visit to the United States. He described the deals — valued at an estimated $17 billion — as a clear proof of the strong friendship binding Bahrain and the U.S. 'These agreements move the Bahrain–US partnership into a new phase,' said Mr Ibrahim. He added: 'They show how determined the leadership is to draw in investment, open up job opportunities and build national skills for the good of everyday Bahrainis.' Among the standout agreements is a major aviation deal that will see Gulf Air acquire new aircraft and engines from Boeing and General Electric. In parallel, Bahrain's sovereign wealth fund Mumtalakat has committed up to $2 billion to support industrial projects in the U.S., particularly in aluminium-linked manufacturing. Bahrain's digital ambitions also took a leap forward with plans to build a strategic undersea cable linking the Kingdom with neighbouring Gulf states. Meanwhile, the signing of a civil nuclear cooperation accord — known as the 123 Agreement — paves the way for Bahrain to explore peaceful atomic energy as part of its long-term net-zero strategy. The Kingdom also entered into new partnerships with American tech giants Oracle and Cisco to accelerate its digital transformation and advance capabilities in artificial intelligence and other emerging technologies. Mr Ibrahim extending his best wishes for Bahrain's continued progress and prosperity under the guidance of its leadership.
