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Arab News
7 hours ago
- Business
- Arab News
Abu Dhabi Airports sees 13% rise in passenger numbers despite airspace disruptions
JEDDAH: Abu Dhabi Airports handled more than 15.8 million passengers in the first half of 2025, up 13.1 percent from the previous six months, despite regional airspace disruptions. Zayed International Airport, the UAE's second-largest air base and a key international hub connected to over 120 passenger destinations, played a central role in the surge. It recorded 15.5 million passengers by the end of June — a 13.2 percent year-on-year increase, according to the UAE's official news agency WAM. The government-owned operator showed resilience, maintaining steady growth in both passenger traffic and flight movements despite regional disruptions caused by a 12-day conflict between Israel and Iran. The unrest led to airspace closures across the Gulf, including the UAE, resulting in flight suspensions and rerouting. Elena Sorlini, managing director and CEO at Abu Dhabi Airports, said: 'Consistently delivering positive growth for the past 17 quarters is testament to the dedication and collective effort of the entire Abu Dhabi Airports team.' She added: 'It reflects our operational agility and commitment to delivering an exceptional aviation experience and attracting international investors.' This increase in passenger traffic was accompanied by 133,533 total flights across the five airports in the first half of 2025, marking a 9.2 percent rise compared to the same period last year, according to the WAM report. Zayed International Airport recorded 93,858 aircraft movements during the first half, up 11.4 percent from 84,286 flights in the first six months of 2024. Etihad Airways temporarily halted some regional flights amid the tensions. Meanwhile, Wizz Air recently announced plans to exit Abu Dhabi from Sept. 1, citing geopolitical instability and airspace restrictions. Abu Dhabi Airports pushed ahead with network expansion, introducing 16 new destinations and onboarding several new airline partners in the first half of the year. These include China Eastern Airlines' four-times-weekly Shanghai service, which will become daily in September; Air Seychelles' six weekly flights; and Fly Cham's route to Damascus. Indian carrier IndiGo also added new services to Madurai, Bhubaneswar, and Visakhapatnam, making Zayed International its most connected hub in the UAE. Cargo volumes also rose, reaching 344,795 tonnes in the first half of the year, supported by infrastructure upgrades and growing trade flows through the emirate.
Associated Press
16 hours ago
- Business
- Associated Press
Grupo Aeroportuario del Pacifico Announces Results for the Second Quarter of 2025
GUADALAJARA, Mexico, July 21, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) ('the Company' or 'GAP') reports its consolidated results for the second quarter ended June 30, 2025 (2Q25). Figures are unaudited and prepared following International Financial Reporting Standards ('IFRS') as issued by the International Accounting Standards Board ('IASB'). Summary of Results 2Q25 vs. 2Q24 Company's Financial Position: As of June 30, 2025, the Company reported a cash and cash equivalents position of Ps. 9,697.3 million. During the second quarter of 2025, the Company repaid the maturing bond certificate 'GAP 21' for Ps. 2,500.0 million. In addition, the Company drew down a Ps. 3,375.0 million credit facility from Banco Nacional de México, S.A. ('Banamex') with a five-year term, and the proceeds were used to refinance maturities in June and July 2025 with Banamex for Ps. 2,500.0 million and BBVA for Ps. 875.0 million. Passenger Traffic During 2Q25, the 14 airports operated by GAP recorded an increase of 624.7 thousand total passengers, representing a 4.1% increase compared to 2Q24. During this period, the following new routes were launched: Domestic: Note: Frequencies can vary without prior notice. International: Note: Frequencies can vary without prior notice. Domestic Terminal Passengers – 14 airports (in thousands): *Cross Border Xpress (CBX) users are classified as international passengers. International Terminal Passengers – 14 airports (in thousands): *CBX users are classified as international passengers. Total Terminal Passengers – 14 airports (in thousands): *CBX users are classified as international passengers. CBX Users (in thousands): Consolidated Results for the Second Quarter of 2025 (in thousands of pesos): - Net income and comprehensive income per share for 2Q25 and 2Q24 were calculated based on 505,277,464 shares outstanding as of June 30, 2025, and June 30, 2024, respectively. Figures in U.S. dollar were converted from pesos using an exchange rate of Ps. 18.2610 per U.S. dollar, as published by the U.S. Federal Reserve Board (noon buying rate) on June 30, 2025. - For consolidating the Jamaican airports, an average exchange rate of Ps. 19.5453 per U.S. dollar was used, corresponding to the three-month period ended June 30, 2025. Revenues (2Q25 vs. 2Q24) The change in aeronautical services revenues was primarily due to the following factors: The change in non-aeronautical services revenues was primarily driven by the following factors: Figures expressed in thousands of Mexican pesos. ‐ Revenues from improvements to concession assets 1 Revenues from improvements to concession assets (IFRIC-12) increased by Ps. 1,700.8 million, or 174.4%, compared to 2Q24. The change was composed of: 1 Revenues from improvements to concession assets are recognized in accordance with International Financial Reporting Interpretation Committee 12 'Service Concession Arrangements' (IFRIC 12). However, this recognition does not have a cash impact or impact on the Company's operating results. Amounts included as a result of the recognition of IFRIC 12 are related to construction of infrastructure in each quarter to which the Company has committed. This is in accordance with the Company's Master Development Programs in Mexico and Capital Development Programs in Jamaica. All margins and ratios calculated using 'Total Revenues' include revenues from improvements to concession assets (IFRIC 12), and, consequently, such margins and ratios may not be comparable to other ratios and margins, such as EBITDA margin, operating margin or other similar ratios that are calculated based on those results of the Company that do have a cash impact. Total operating costs increased by Ps. 2,555.4 million, or 68.2%, compared to 2Q24, primarily due to a Ps. 1,700.8 million increase in the cost of improvements to concession assets (IFRIC-12), a Ps. 308.5 million, or 25.4%, increase in the cost of services, driven mainly by the consolidation of the cargo and bonded warehouse business, which contributed Ps. 160.1 million; an increase of Ps. 309.8 million, or 35.2%, in concession fees and technical assistance fees; and higher depreciation and amortization, up Ps. 237.6 million, or 34.6%, due to the recognition of fair values related to the cargo and bonded warehouse business. Excluding the cost of improvements to concession assets (IFRIC-12), operating costs increased by Ps. 854.6 million, or 30.8%. This increase in total operating costs was primarily due to the following factors: Mexican airports: The change in the cost of services at our Mexican airports during 2Q25 was mainly due to: Jamaican Airports: Operating costs increased by Ps. 87.9 million, or 11.0%, compared to 2Q24, mainly due to a Ps. 33.9 million, or 16.9%, increase in the cost of services, a Ps. 29.7 million, or 7.5%, an increase in concession fees, and a Ps. 27.3 million, or 22.9%, increase in depreciation and amortization, partially offset by a Ps. 2.3 million, or 2.7%, decrease in the cost of improvements to concession assets (IFRIC-12). Operating income margin went from 48.4% in 2Q24 to 42.1% in 2Q25. Excluding the effects of IFRIC-12, the operating income margin went from 55.9% in 2Q24 to 55.8% in 2Q25. Income from operations increased by Ps. 1,067.6 million, or 30.4%, compared to 2Q24. EBITDA margin went from 57.8% in 2Q24 to 50.6% in 2Q25. Excluding the effects of IFRIC-12, EBITDA margin went from 66.8% in 2Q24 to 67.1% in 2Q25. The nominal value of EBITDA increased by Ps. 1,305.2 million, or 31.1%, compared to 2Q24. Financial results increased in expense by Ps. 70.4 million, or 10.6%, from a net expense of Ps. 663.1 million in 2Q24 to Ps. 733.5 million in 2Q25. This change was mainly the result of: In 2Q25, net and comprehensive income decreased by Ps. 658.9 million, or 22.8%, compared to 2Q24, mainly due to a Ps. 1,082.6 million increase in foreign currency translation losses versus the same period last year. Income before taxes increased by Ps. 997.2 million, or 35.0%. During 2Q25, net income increased by Ps. 402.4 million, or 17.9%, compared to 2Q24. Income tax for the period increased by Ps. 594.8 million, composed of a Ps. 451.5 million increase in current income tax, and a Ps. 143.3 million decrease in deferred tax benefit, primarily due to lower tax loss carryforwards of Ps. 177.3 million, compared to 2024. This was partially offset by a higher inflation effect, as inflation rose from 0.4% in 2Q24 to 0.9% in 2Q25. Consolidated Results for the Six Months of 2025 (in thousands of pesos): - Net income and comprehensive income per share for 6M25 and 6M24 were calculated based on 505,277,464 shares outstanding. U.S. dollar figures were converted from pesos using an exchange rate of Ps. 18.2610 per U.S. dollar, as published by the U.S. Federal Reserve Board (noon buying rate) on June 30, 2025. - For the purpose of consolidating Jamaican airports, an average exchange rate of Ps. 19.9844 per U.S. dollar was used, corresponding to the six months ended June 30, 2025. Revenues (6M25 vs. 6M24) The change in aeronautical services revenues comprised primarily of the following factors: - The change in non-aeronautical services revenues comprised primarily of the following factors: Figures expressed in thousands of Mexican pesos. ‐ Revenues from improvements to concession assets 1 Revenues from improvements to concession assets (IFRIC-12) increased by Ps. 2,524.5 million, or 89.7%, compared to 6M24. The change was composed of: 1 Revenues from improvements to concession assets are recognized in accordance with International Financial Reporting Interpretation Committee 12 'Service Concession Arrangements' (IFRIC 12). However, this recognition does not have a cash impact or impact on the Company's operating results. Amounts included as a result of the recognition of IFRIC 12 are related to construction of infrastructure in each quarter to which the Company has committed. This is in accordance with the Company's Master Development Programs in Mexico and Capital Development Programs in Jamaica. All margins and ratios calculated using 'Total Revenues' include revenues from improvements to concession assets (IFRIC 12), and, consequently, such margins and ratios may not be comparable to other ratios and margins, such as EBITDA margin, operating margin or other similar ratios that are calculated based on those results of the Company that do have a cash impact. Total operating cost increased by Ps. 4,405.4 million, or 53.4%, compared to 6M24, primarily due to a Ps. 2,524.5 million, or 89.7%. increase in the cost of improvements to concession assets (IFRIC-12), a Ps. 721.5 million, or 31.6%, increase in the cost of services, an increase of Ps. 675.9 million, or 37.1%, in concession fees and technical assistance fees; and higher depreciation and amortization, up Ps. 507.2 million, or 37.6%. Excluding the cost of improvements to concession assets (IFRIC-12), operating costs increased by Ps. 1,880.9 million, or 34.6%. This increase in total operating costs was primarily due to the following factors: Mexican airports: The change in the cost of services at our Mexican airports during 6M25 was mainly due to: Jamaican Airports: Operating costs increased by Ps. 244.3 million, or 15.5%, compared to 6M24, mainly due to a Ps. 96.1 million, or 24.6%, increase in the cost of services, a Ps. 75.6 million, or 9.4%, increase in concession fees, and a Ps. 61.7 million, or 25.8%, increase in depreciation and amortization, and a Ps. 9.6 million, or 6.9%, increase in the cost of improvements to concession assets (IFRIC-12). Operating income margin went from 47.6% in 6M24 to 42.3% in 6M25. Excluding the effects of IFRIC-12, the operating income margin went from 57.9% in 6M24 to 55.9% in 6M25. Income from operations increased by Ps. 1,777.8 million, or 23.7%, compared to 6M24. EBITDA margin went from 56.2% in 6M24 to 50.7% in 6M25. Excluding the effects of IFRIC-12, EBITDA margin went from 68.4% in 6M24 to 67.1% in 6M25. The nominal value of EBITDA increased by Ps. 2,285.0 million, or 25.8%, compared to 6M24. Financial results increased in expense by Ps. 406.1 million, or 32.3%, from a net expense of Ps. 1,257.0 million in 6M24 to a net expense of Ps. 1,663.1 million in 6M25. This change was mainly the result of: In 6M25, net and comprehensive income decreased by Ps. 8.7 million, or 0.2%, compared to 6M24. Income before taxes increased by Ps. 1,371.6 million, mainly due to the increase in EBITDA, as mentioned above. During 6M25, net income increased by Ps. 789.8 million, or 16.7%, compared to 6M24, mainly due to the increase in EBITDA, partially offset by higher depreciation and amortization expenses, as well as an increase in net financial expenses. In addition, income tax expense for the period increased by Ps. 581.8 million, as a result of a Ps. 1,777.8 million increase in operating income. Statement of Financial Position Total assets as of June 30, 2025, increased by Ps. 4,870.3 million compared to June 30, 2024, primarily due to the following items: i) Improvements to concession assets of Ps. 5,875.2 million, ii) Other acquired rights of Ps. 1,937.1 million, iii) Trade accounts receivable of Ps. 816.9 million, iv) Deferred income taxes of Ps. 813.6 million, and v) Machinery, equipment, and improvements to leased buildings of Ps. 254.4 million, partially offset by a decrease in cash and cash equivalents of Ps. 2,887.6 million, advanced payments to suppliers of Ps. 905.1 million. As of June 30, 2025, total liabilities increased by Ps. 2,738.1 million compared to the same period in 2024, mainly due to i) Bonds certificates of Ps. 4,639.0 million, ii) Deferred liabilities of Ps. 575.1 million, iii) Accounts payable of Ps. 365.2 million, and iv) Taxes payable of Ps. 157.0 million, partially offset by a decrease in payables related to shareholder distribution of Ps. 2,819.9 million. Company Description Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico's Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP's shares were listed on the New York Stock Exchange under the ticker symbol 'PAC' and on the Mexican Stock Exchange under the ticker symbol 'GAP'. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019. In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the 'Ley del Mercado de Valores', GAP has implemented a 'whistleblower' program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is or by email at [email protected]. GAP's Audit Committee will be notified of all complaints for immediate investigation. Exhibit A: Operating results by airport (in thousands of pesos): Exhibit A: Operating results by airport (in thousands of pesos): (1) Others include the operating results of the Aguascalientes, La Paz, Los Mochis, Manzanillo, Mexicali, Morelia, and Kingston airports. Exhibit B: Consolidated statement of financial position as of June 30 (in thousands of pesos): The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited ('Vantage'), as well as the 48.5% held by the shareholders of GWTC. Exhibit C: Consolidated statement of cash flows (in thousands of pesos): Exhibit D: Consolidated statements of profit or loss and other comprehensive income (in thousands of pesos): The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited ('Vantage'), as well as the 48.5% held by the shareholders of GWTC. Exhibit E: Consolidated stockholders' equity (in thousands of pesos): The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited ('Vantage'), as well as the 48.5% held by the shareholders of GWTC. As a part of the adoption of IFRS, the effects of inflation on common stock recognized under Mexican Financial Reporting Standards (MFRS) through December 31, 2007, were reclassified as retained earnings because accumulated inflation recognized under MFRS is not considered hyperinflationary according to IFRS. For Mexican legal and tax purposes, Grupo Aeroportuario del Pacífico, S.A.B. de C.V., as an individual entity, will continue preparing separate financial information under MFRS. Therefore, for any transaction between the Company and its shareholders related to stockholders' equity, the Company must take into consideration the accounting balances prepared under MFRS as an individual entity and determine the tax impact under tax laws applicable in Mexico, which requires the use of MFRS. For purposes of reporting to stock exchanges, the consolidated financial statements will continue to be prepared following IFRS, as issued by the IASB. Exhibit F: Other operating data: WLU = Workload units represent passenger traffic plus cargo units (1 cargo unit = 100 kilograms of cargo).
Zawya
a day ago
- Business
- Zawya
Abu Dhabi first-half passenger traffic rises 13% despite regional challenges
Abu Dhabi Airports reported on Monday a 13.1% increase in passenger traffic to 15.8 million in the first half of the year, defying periodic disruptions to air transport in the Middle East caused by conflicts. Abu Dhabi's Zayed International Airport (AUH), the travel hub of the United Arab Emirates' capital city, accounted for the vast majority of the traffic, handling 15.5 million passengers, up 13.2% from the first half of last year. The number of flights at AUH increased by 11.4% to nearly 94,000 in the six months to June 30. Abu Dhabi Airports said some new airlines had joined its network of airports, which had increased the number of destinations, particularly to China and India, and noted demand for both tourism and business travel, without giving details. The increases came despite disruptions including a 12-day war between Israel and Iran last month that triggered airspace closures in some Gulf countries, and forced airlines to suspend and reroute some flights. Etihad Airways, Abu Dhabi's main carrier, suspended Israel-bound flights for several weeks in June and faced temporary cancellations on routes to Kuwait, Doha, and Saudi Arabia's Dammam. Low-cost carrier Wizz Air said last week that it would exit its Abu Dhabi operation starting September 1, citing factors including geopolitical instability. "The first six months of this year have posed some operational challenges," Abu Dhabi Airports CEO Elena Sorlini said in a statement, adding that the company's results demonstrated the resilience of its network. Abu Dhabi Airports also operates Al Ain International Airport, Al Bateen Executive Airport, Delma Island Airport and Sir Bani Yas Island Airport, besides AUH.
Khaleej Times
a day ago
- Business
- Khaleej Times
Abu Dhabi airports traffic surges past 15.8m, heralding stellar 2025
Abu Dhabi Airports recorded more than 15.8 million passengers in the first half of 2025, a 13.1 per cent increase over the same period in 2024, underscoring the aviation sector's remarkable upward trajectory. This marks the 17th consecutive quarter of double-digit growth in passenger traffic, firmly establishing Abu Dhabi Airports as a vital engine of the UAE's economic diversification and global connectivity strategy. Central to this growth is Zayed International Airport (AUH), which alone handled 15.5 million passengers between January and June, representing a 13.2 per cent year-on-year increase. AUH also recorded 93,858 aircraft movements during this period, up 11.4 per cent from 84,286 flights in the first half of 2024. Across Abu Dhabi's five commercial airports, total flight movements reached 133,533 — a 9.2 per cent rise — demonstrating the emirate's growing appeal as both a transit hub and a final destination. The steady climb in passenger numbers comes amid an ambitious network expansion strategy. In the first six months of the year, 16 new destinations were added to Abu Dhabi's global reach. This includes China Eastern Airlines' four-times-weekly service to Shanghai, which is set to become daily in September, Air Seychelles' six weekly flights, Fly Cham's new connection to Damascus, and IndiGo's fresh routes to Madurai, Bhubaneswar, and Vishakhapatnam. These additions are positioning AUH as IndiGo's most connected hub in the UAE and reinforcing Abu Dhabi's role as a major node in the global aviation landscape. Elena Sorlini, managing director and CEO of Abu Dhabi Airports, credited the consistent growth to operational resilience, strategic collaborations, and a clear long-term vision. 'Despite operational headwinds in early 2025, our mid-year results reflect our agility, dedication, and collaborative partnerships. Sustaining 17 quarters of strong growth underlines our role not just as an airport operator, but as a vital facilitator of Abu Dhabi's tourism, trade, and investment ambitions,' she said. Aviation experts said the second half of 2025 is poised to build on this momentum. 'With increasing international airline partnerships, the ongoing recovery and expansion of tourism, and the accelerating pace of global trade, Abu Dhabi Airports is well-positioned to close the year with record-breaking numbers,' said Manoj K. John, founder and CEO of AeroConnections, said. 'Major events, continued infrastructure upgrades, and the expected spike in travel during the year-end holiday season are likely to further elevate the emirate's status as a premier aviation hub,' said John. Cargo operations have also seen substantial gains, highlighting Abu Dhabi's rising significance in global logistics and e-commerce. In the first half of 2025, Abu Dhabi Airports handled 344,795 tonnes of cargo — an impressive volume driven by strategic investments and partnerships. One of the key highlights was the signing of a joint venture agreement with JD Property, the infrastructure subsidiary of Chinese e-commerce giant The partnership will establish a cutting-edge 70,000-square-metre logistics hub in Abu Dhabi, designed to meet growing east-west trade flows, especially in the fast-expanding e-commerce and specialised cargo sectors across the GCC and Mena regions. Abu Dhabi Airports also reached several strategic milestones during the period. Rehabilitation work at Sir Bani Yas Airport was completed, supporting eco-tourism efforts in the Al Dhafra region. AUH earned the prestigious 3 Pearl Estidama rating for sustainable construction and was named the 'Best Airport at Arrivals Globally' for the third consecutive year at the Airports Council International (ACI) ASQ Awards. These accolades reaffirm the airport's reputation as a world-class gateway that meets the highest global standards of service and sustainability. A collaboration with Bombardier advanced at Al Bateen Executive Airport with the development of a dedicated maintenance, repair, and overhaul (MRO) facility was a key factor strengthening Abu Dhabi's aviation ecosystem. This move aims to establish the emirate as a regional centre of excellence for business aviation services. Meanwhile, a new memorandum of understanding with TAQA Distribution will explore the deployment of next-generation utility technologies across airport operations, aligning with Abu Dhabi Airports' long-term vision of digital innovation and environmental stewardship.
Arabian Business
a day ago
- Business
- Arabian Business
Abu Dhabi Airports welcomes 15.8 million passengers in first half of 2025
Abu Dhabi Airports reported a 13.1 per cent year-on-year increase in passenger traffic in the first half of 2025, with more than 15.8 million passengers passing through its five airports between January 1 and June 30. Zayed International Airport (AUH) accounted for the majority of this traffic, handling 15.5 million passengers during the period, marking a 13.2 per cent increase compared to the same period in 2024. Aircraft movements also rose across the airport network, with a total of 133,533 flights in H1 2025, up 9.2 per cent year-on-year, the Emirates News Agency (WAM) said in a statement. Abu Dhabi Airports records over 300,000 cargo movements in H1 2025 AUH recorded 93,858 aircraft movements, up 11.4 per cent from the 84,286 flights it handled in H1 2024. The operator said the rise in passenger and flight volumes was driven by the addition of 16 new destinations and new airline partnerships in the first six months of 2025. Notable route additions included China Eastern Airlines' four-times-weekly service to Shanghai, which will become a daily service in September, and Air Seychelles' six weekly flights. Fly Cham launched a route to Damascus, while IndiGo expanded its operations at AUH with new flights to Madurai, Bhubaneswar, and Vishakhapatnam. Elena Sorlini, Managing Director and Chief Executive Officer at Abu Dhabi Airports, said: 'Consistently delivering positive growth for the past 17 quarters is testament to the dedication and collective effort of the entire Abu Dhabi Airports team. It reflects our operational agility and commitment to delivering an exceptional aviation experience and attracting international investors.' Abu Dhabi Airports also reported growth in cargo volumes. In the first half of 2025, it handled 344,795 tonnes of cargo. The increase was supported by new partnerships and infrastructure improvements, including a joint venture agreement with JD Property, the infrastructure arm of Chinese e-commerce company The agreement includes the development of a 70,000-square-metre facility to serve east-west e-commerce and specialised cargo logistics demand across the GCC and MENA region. The first half of the year also saw progress on several infrastructure projects. Sir Bani Yas Airport completed rehabilitation works, aimed at supporting eco-tourism growth in Al Dhafra. AUH received a 3 Pearl Estidama rating for construction and was named 'Best Airport at Arrivals Globally' for the third year in a row at the ACI ASQ Awards. At Al Bateen Executive Airport, Abu Dhabi Airports and Bombardier continued work on a dedicated service facility, expanding the emirate's maintenance, repair, and overhaul (MRO) capacity. Abu Dhabi Airports also signed a memorandum of understanding with TAQA Distribution to explore the use of next-generation utility technologies across its airports, aligning with the group's long-term plans for sustainable development and innovation.
