Qatar Airways forced to delay Airbus deliveries amid travel downturn

Qatar Airways forced to delay Airbus deliveries amid travel downturn
Qatar Airways has urged Boeing to follow suit in delaying plane deliveries. (AFP)
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Updated 02 September 2020

Qatar Airways forced to delay Airbus deliveries amid travel downturn

Qatar Airways forced to delay Airbus deliveries amid travel downturn
  • Airline can bring forward Airbus deliveries if market rebounds

SYDNEY: Qatar Airways has struck a deal with Airbus to delay delivery of airplanes due to the pandemic-induced travel downturn, but remains in talks with Boeing about deferrals, the airline’s CEO said on Wednesday.

“We have the ability to bring forward the deliveries if there is a rebound in air travel,” Qatar Airways CEO Akbar Al-Baker said of the Airbus deal at the CAPA Australia Pacific Aviation Summit, without providing further details.

Al-Baker said the airline had not reached an agreement with Boeing.

“As far as Boeing is concerned we are still in negotiations with them, but regardless of what they feel, an aircraft manufacturer needs to oblige customers in difficult times,” he said.
“People who will not oblige and stand with us in this difficult time will not see us again.”

Qatar Airways said in June it would not take any new planes ordered from Boeing or Airbus in 2020 or 2021, adding there would be a knock-on effect to future deliveries due to the COVID-19 pandemic.

The airline has 27 A350-1000s and 50 A321neos on order, according to the Airbus website. It has also ordered 60 777X planes, five 777 freighters and 23 787-9s from Boeing, the US manufacturer’s website said.

Qatar Airways had also ordered 737 MAX jets for its part-owned carrier Air Italy before its collapse and it is in talks with Boeing about those planes, Al-Baker said.

Airbus and Boeing did not respond immediately to requests for comment.


UAE’s Mubadala Petroleum signs Red Sea oil exploration deal with Egypt

The agreement, signed by Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla, allows the company to explore in a 3,084 square kilometer area of the Red Sea. (Shutterstock/File Photo)
The agreement, signed by Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla, allows the company to explore in a 3,084 square kilometer area of the Red Sea. (Shutterstock/File Photo)
Updated 23 January 2021

UAE’s Mubadala Petroleum signs Red Sea oil exploration deal with Egypt

The agreement, signed by Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla, allows the company to explore in a 3,084 square kilometer area of the Red Sea. (Shutterstock/File Photo)
  • It will own 27 percent of the stake as part of the agreement, while Shell will own 63 percent

CAIRO: The UAE’s Mubadala Petroleum Company has signed an agreement with Egypt to explore for oil and gas in the Red Sea.

The agreement, signed by Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla, allows the company to explore in a 3,084 square kilometer area of the Red Sea and was a result of a bidding round in 2019.

It will own 27 percent of the stake as part of the agreement, while Shell will own 63 percent. Egypt’s Tharwa Petroleum Company owns the remaining 10 percent.

The agreement refers to an area known as Sector 4, located in the north of the Red Sea in an area adjacent to the Gulf of Suez Basin, which is rich in natural resources. 

Parties will commit to conducting exploration studies in this sector and collecting seismic data for the area, using three-dimensional techniques, during the first three years of the exploration phase.

“The addition of Sector 4 in the Red Sea represents a new extension of our operations in Egypt, while providing a valuable opportunity to expand our activities, and by working with a strategic partner such as Shell,” said Mubadala Petroleum CEO Bakheet Al Katheeri. “The search and exploration operations in this sector, if successful, will support our strategy of extracting and manufacturing hydrocarbons, in order to contribute to supporting the stability and expansion of the Egyptian market, while providing growth opportunities for our operations in the country.”

Mubadala Petroleum owns a 10 percent stake in the offshore Shurooq gas field concession that includes the Zohr natural gas field, in addition to 20 percent in the concession area of Noor Gas Company. Both are located in the Mediterranean Sea off the coast of Egypt.