Saudi budget carrier flyadeal receives first Airbus 320 aircraft

Saudi budget carrier flyadeal will begin flight operations in September 13 to coincide with the Saudi Arabia’s national day. (Courtesy Airbus)
Updated 24 August 2017
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Saudi budget carrier flyadeal receives first Airbus 320 aircraft

DUBAI: Saudi budget carrier flyadeal has received the first of eight Airbus A320-200 aircraft, Dubai Aerospace Enterprise (DAE) said in a statement.
The delivery, which took place at the Airbus center in Hamburg, represents the first aircraft in the low-cost subsidiary of Saudi Arabian Airlines.
DAE has agreed to lease eight Airbus A320 family aircraft to flyadeal, which will start operations September 13 to coincide with the Saudi Arabia’s national day. The remaining aircraft, equipped with CFM 56-5B4/3 PIP engines, are scheduled to be delivered this year and in 2018.
The carrier, to be based in Jeddah, will offer a single-class configuration and operate Saudi’s main trunk routes including Riyadh, Jeddah and Dammam and before expanding into regional markets.
“flyadeal has selected key partners from across the aviation industry to deliver services that provide the most economical solutions for flyadeal’s low-fare, high value business model,” Con Korfiatis, the Chief Executive Officer of flyadeal, said in a statement.
DAE Chief Executive Officer, Firoz Tarapore meanwhile said: “This transaction demonstrates our capital strength and our ability to provide comprehensive solutions to airline clients.”
“flyadeal’s decision to launch its operations with an A320ceo fleet is a clear affirmation of the continuing appeal of a product that provides an exceptionally comfortable cabin, low operating costs and excellent fuel consumption. These factors will provide a framework from which the airline can build and sustain its future successes and market growth, in both KSA and the region.”


Urgency needed to boost Palestinian economy: IMF chief

Updated 26 June 2019
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Urgency needed to boost Palestinian economy: IMF chief

  • The MF has been warning of severe deterioration in the Palestinian economy
  • ‘If there is an economic plan, if there is urgency, it’s a question of making sure that the momentum is sustained’

MANAMA: IMF chief Christine Lagarde said Wednesday that major economic growth was possible in the Palestinian territories if all sides showed urgency, as she took part in a US-led conference boycotted by the Palestinian leadership.
The International Monetary Fund has been warning of severe deterioration in the Palestinian economy, with tax revenue blocked in a dispute with Israel which has also imposed a crippling blockade on the Gaza Strip for more than a decade.
“If there is an economic plan, if there is urgency, it’s a question of making sure that the momentum is sustained,” said Lagarde.
The IMF chief is attending a conference in Bahrain to discuss the economic aspects of a United States plan for Israeli-Palestinian peace, which has already been rejected by the Palestinians as it fails to address key political issues.
Lagarde said for the US plan to work “it will require all the goodwill in the world on the part of all parties — private sector, public sector, international organizations and the parties on the ground and their neighbors.”
Citing examples of post-conflict countries, Lagarde said that private investors needed progress in several sectors including strengthening the central bank, better managing public finance and mobilizing domestic revenue.
“If anti-corruption is really one of the imperatives of the authorities — as it was in Rwanda, for instance — then things can really take off,” she said.
The plan presented by White House adviser Jared Kushner calls for $50 billion of investment in the Palestinian territories and its neighbors within a decade.
The proposals for infrastructure, tourism, education and more aim to create one million Palestinian jobs.
Gross domestic product in the Gaza Strip declined by eight percent last year, while there was only minor growth in the West Bank.
Kushner, opening the conference on Tuesday, called the plan the “Opportunity of the Century” — and said the Palestinians needed to accept it before a deal can be reached on political solutions.
The Palestinian Authority has rejected the conference, saying that the US and Israel are trying to dangle money to impose their ideas on a political settlement.
Washington says it will unveil the political aspects of its peace deal at a later date, most likely after Israel’s September election.