The UAE is a critical hub for global connectivity. And the benefits of its super connector role, brings trade, tourism, investment, and jobs to the UAE,” said Willie Walsh, IATA’s director general.

The report shows activity in 2023 shows:

USD 92 billion, contributing 18.2% to GDP (total impact including wider supply chain, employee spending, and tourism activities)

992,000 jobs (total impact including wider supply chain, employee spending, and tourism activities)

74,500 employed directly by airlines, with a further 132,300 employed elsewhere in aviation and 297,300 employed in aviation-related tourism

One million tons of air cargo handled in 2023

“The leadership of the UAE has a strategic vision for aviation, supported by smart regulation and investment in world-class infrastructure. Supporting nearly a million jobs and 18.2% of GDP, aviation makes an enormous contribution to the UAE’s prosperity—both culturally and economically. And we can be confident that this contribution will strengthen as the UAE continues to facilitate opportunities for aviation to thrive,” said Walsh.

Key Priorities for the UAE

Building on its position as a global aviation leader, the UAE is well-placed to progress in three priority areas:

Sustainability: The UAE has been a leader in the development of Low Carbon Aviation Fuel (LCAF) and is targeting an annual production of 700 million liters of Sustainable Aviation Fuel (SAF) by 2030. IATA looks forward to the potential for even broader collaboration with the UAE, in pursuit of opportunities to advance progress towards aviation’s net zero carbon emissions by 2050 goal such as the recently launched SAF Registry (operated by CADO). 

Infrastructure: As the UAE continues to invest in world class-infrastructure to meet future demand, particularly with the development of Al Maktoum International Airport (DWC) and Zayed International Airport (AUH), it is critical to work with industry to remain a cost competitive hub for airlines and passengers.

Workforce: The UAE is making significant investments in aviation training to ensure a skilled workforce to support growth opportunities. Maintaining a sustainable pipeline of aviation professionals will further strengthen the UAE's status as a global aviation hub. As part of this effort, a new IATA training centre was recently opened in Abu Dhabi, UAE.

The report said policymakers in New Delhi and Abu Dhabi should ‘seize this moment’ to implement a phased liberalisation roadmap.

The recommendation is to adopt a strategic, phased approach to open up the skies, and do so with ‘urgency’ ensuring that both countries stay ahead of demand, capitalise on mutual opportunities, and jointly secure their position as global aviation leaders.

To capture these gains, the report suggests a phased liberalisation of India–UAE air services.

Key policy measures include:

Phased Capacity Expansion: Given India’s robust growth trajectory, UAE-India flight capacity can be doubled over five years, with annually phased liberalisation of 20 percent. This steady expansion will meet rising demand while avoiding market shocks, leading to a 20-percent reduction in airfares. A controlled pace prevents sudden overcapacity and guards against traffic diversion to third-country hubs, ensuring sustainable growth for airlines in both countries.  

Strengthen Hubs and Regional Connectivity:

Invest in and enhance major Indian airports (Delhi, Mumbai, Bengaluru) as efficient international hubs in partnership with UAE carriers. Synchronise flight schedules to improve connections. Simultaneously, phase in UAE airline access to tier-2 and tier-3 Indian cities in a calibrated manner. This approach boosts connectivity for smaller cities while allowing Indian domestic carriers to partner (through codeshare/interlining) for last-mile connectivity, so regional airports grow alongside major hubs.

Liberalising air services

The report added liberalising air services would generate substantial welfare gains for Indian travellers. A phased 5-percent annual increase in bilateral seat capacity is projected to add over US$152 million in consumer surplus by 2028 (directly adding to Indian travellers’ savings). A more ambitious doubling of capacity over five years could yield an economic benefit exceeding US$1.05 billion to Indian consumers. Thus, phased liberalisation up to 100 percent can generate savings for Indian consumers exceeding US$1.05 billion.

Morocco will be host of the 2030 soccer World Cup and ONDA intends to build the new terminal by 2029.

It is expected to accommodate 20 million passengers annually, supporting the country’s growing aviation sector and Royal Air Maroc’s plans to quadruple its fleet to 200 aircraft by 2037. The airport currently has the capacity to handle around 15 million passengers per year.

The three-level terminal will feature a spacious duty-free zone, VIP lounges and an on-site hotel, and ONDA also said the new terminal will be connected to a high-speed train network that will link Kenitra to Marrakech, airports.

The project, worth $7.8 billion, aims to dramatically scale up Ethiopia’s aviation capacity, to handle 60 million passengers annually by 2040, up from the current 17 million.

The landmark MoU was signed between Mesfin Tasew, CEO of Ethiopian Airlines Group, and Nnenna Nwabufo, vice president for regional development, integration, and strategy at AfDB.

The new airport will be constructed in Abusera, near Bishoftu, in Ethiopia’s Oromia region.

This portfolio is comprised of 100% next-generation aircraft, of which 89% are narrow body aircraft. 80% of the aircraft are manufactured by Airbus and 20% are manufactured by Boeing. These 17 aircraft are on lease to 11 airlines in 10 countries.

Upon completion, these aircraft are expected to reduce DAE’s weighted average passenger fleet age to 6.9 years and increase DAE’s weighted average passenger fleet lease term remaining to 6.6 years. Additionally, on completion, DAE’s pro-forma fleet composition is expected to be 46% Airbus aircraft, 49% Boeing aircraft, and 5% ATR 72-600.

Firoz Tarapore, chief executive officer of DAE, commented: “Consistent with our commitment to improve the next generation content of our fleet and reduce the fleet average age, we are delighted to add these modern, fuel-efficient, next-generation technology assets to our portfolio. This transaction also allows us to further deepen our relationship with our global base of airline customers, and we welcome three airline customers back to DAE.

Amid ongoing order book delivery delays, we are continuing to source attractive assets in the secondary market to meet our growth and portfolio management targets.”

The collaboration aims to provide flexible and reliable leasing solutions to airlines in the region and beyond.

Zela Aviation's chairman, Andreas Christodoulides, said: “We are excited to be working with XEJet and supporting their ACMI leasing opportunities. This cooperation strengthens our presence in Africa and allows us to provide additional capacity to airlines in need of efficient regional jet operations.”

Sukhjinder Mann, chief operating officer, added: "Putting our aircraft for lease on the international market is a major milestone for XEJet as it signifies the growth of XEJet and demonstrates the diversification of our business model, we operate and run a number of airlines and our ACMI business is also growing nicely. We are pleased to partner with Zela Aviation due to their international network of airline clients and operators. We believe in and are committed to this partnership.”

Times Aerospace Events is delighted to announce the MRO Association of India as a strategic partner.

“Our association is honoured to be partnering with Times Aerospace Events for the second edition of Aviation India,” said C S Tomar, President of the MRO Association of India. “The MRO sector in India is responding strongly to our country’s need for more home-grown engineering and technical services and promoting these efforts at Aviation India 2025 will play a vital role in this drive.”

The event will be a two-day, high-level networking conference & exhibition bringing together aviation professionals, leaders and C-suite executives from airlines, including cargo and business aviation operators, government, regulators, airports, lessors, OEMs, MROs, training, finance & leasing, insurance, law firms and aviation suppliers and services providers from across the entire supply chain.

Aviation India 2025 is also pleased to announce and welcome back the Business Aircraft Operations Association (BAOA) of India as a supporting partner of Aviation India 2025, to help address the issues that face this growing part of India’s aviation ecosystem to the Summit.

Under the title Aviation India 2025: Shaping the pathway for Indian aviation, the summit will debate and examine how the industry is transforming at pace to unlock growth bringing together leaders from across India and the Subcontinent. “Even at this early stage, we are delighted to confirm Air India as a major supporter of Aviation India 2025, and its CEO, Campbell Wilson as one of the keynote speakers at the Summit,” said Mark Brown, managing director of Times Aerospace Events.

To help shape the content and programme of the 2-day summit, Times Aerospace Events is bringing together a panel of Indian aviation experts to assist in this effort.

This panel features:

• Bharat Malkani, Chairman of Max Aerospace and Aviation Ltd

• Willy Boulter, airline C-suite executive, senior aviation consultant, former Chief Commercial Officer, IndiGo

• Sunam Datta, Chief Commercial Officer, Skyplan

• Neelam Mathews, veteran aviation, defence, travel and tourism correspondent

For more information please visit www.aviationindia.aero

The carrier also revealed a cash dividend of $260 million for the same period, partly owing to its share buyback strategy. 

Net debt fell by $8.3 billion in the past three years, reflecting the airline’s strong performance. This follows Turkish Airlines’ impressive growth during the past 20 years, with the airline outperforming sector averages in capacity, passenger numbers and profitability. 

Turkish Airlines’ total revenues in 2024 increased by 8.2% year-on-year to $22.7 billion. Passenger revenue rose by 4% under intensifying competition, while cargo revenue grew by around 35% compared to 2023.

Turkish Cargo increased its annual cargo volume by over 20%, becoming the world’s third-largest air cargo carrier according to data published by the International Air Transport Association. Around $18 billion of the airline’s total revenue was attributed to exports, while total assets were worth $40 billion, growing 18-fold since 2002. 

Earnings Before Interest, Tax, Depreciation, Amortisation, and Rent totalled $5.7 billion with a margin of 25.3%, aligning with the carrier’s long-term targets.

When discussing the airline’s performance, Prof. Ahmet Bolat, Turkish Airlines Chairman of the Board and the Executive Committee, said: “Turkish Airlines continues to set industry benchmarks with its strong financial performance and strategic growth as showcased by our 2024 results.

“Despite global challenges, we remain committed to delivering our award-winning service and expanding our global network, while providing long-term value for our investors, employees, and of course our guests. 

“As we move forward towards our 100th anniversary, we take pride in strengthening Türkiye’s position as a key player in global aviation and forge ahead on our journey to the top.”

Australian travellers are set to benefit after a deeper strategic partnership between Virgin Australia and Qatar Airways Group was given the green light by the Australian Government.

Qatar Airways Group’s minority 25 per cent investment in Virgin Australia has now received Foreign Investment Review Board (FIRB) approval following the Federal Treasurer’s announcement today. This follows the Australian Competition and Consumer Commission’s (ACCC) Draft Determination on 18 February indicating its intention to authorise the airlines’ integrated alliance, with final approval expected in March/April 2025. Together, they help open the door to the airline’s return to long-haul international flying.

Virgin Australia now awaits a decision from the International Air Services Commission (IASC) on what is an uncontested allocation of air rights for services between Australia and Qatar, due to commence in June.

Equity investment 

Qatar Airways Group’s 25 per cent stake will provide Virgin Australia with access to the scale and expertise of a world-leading global airline, strengthening its ability to compete domestically and internationally and driving increased competition in Australian aviation.

Bain Capital, Virgin Group, and Queensland Investment Corporation will retain shareholdings in Virgin Australia.  

Long-haul flying and integrated alliance 

Subject to IASC approval, Virgin Australia will return to long-haul flying in June 2025, with flights from Sydney, Brisbane, and Perth to Doha. Flights from Melbourne to Doha are scheduled to commence in December 2025. These flights will be operated utilising aircraft wet-leased from Qatar Airways. As well as enhancing competition and placing downward pressure on international airfares, these flights will provide a significant boost to the Australian visitor economy, including the tourism sector, generating an estimated $3 billion in economic value over the next five years. 

Customers on Virgin Australia’s new Doha flights will be able to connect seamlessly to Qatar Airways’ global network, including more than 100 new connecting itineraries across Europe, the Middle East and Africa. The expanded codeshare and collaboration arrangement will also provide access to increased points earn and redemption opportunities for members of Velocity and Qatar Airways’ Privilege Club. 

Following consultation with unions and relevant cabin crew and pilot communities, there has been an overwhelming response to the expressions of interest for secondment opportunities for Virgin Australia pilot and cabin crew with Qatar Airways. This will also provide promotional opportunities for other team members and new hires through the backfilling of seconded staff. 

Other areas of cooperation

Virgin Australia and Qatar Airways signed a Memorandum of Understanding (MoU) to collaborate on a range of sustainability initiatives in October 2024. Areas of focus under the MoU include aiming to advance the use of Sustainable Aviation Fuel, environmental management including waste and energy management, sustainable procurement, and aviation workforce development.

Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al-Meer said: “This latest development is a significant step towards solidifying the strong and enduring relationship that continues to evolve between Qatar Airways Group and Virgin Australia. It is also a huge boost to our shared ambition to create even greater choice and value for all Australian passengers, with healthy competition and world-class service at the very core of our collective offering.

“We are confident in our ability to deliver an alliance between our two airlines that will provide immense benefit to customers, Australian businesses, Australian jobs and the wider economy.”

Virgin Australia Group chief executive officer, Jayne Hrdlika, said:“ Today we welcome a new era for Virgin Australia. Qatar Airways’ investment is a huge vote of confidence in our business and Australian aviation more broadly. It sets us up for long-term success and adds fuel to our bold transformation agenda. 

“This is a major win for Australian consumers, who are already benefiting from more choice and greater value when travelling to Europe, the Middle East and Africa since our flights went on sale in December. Domestically, we are competing well and performing stronger than at any other point in our 24 year history.  Being backed by one of the world’s largest airlines now gives us the scale and access to industry expertise which will support continued growth in line with the market domestically, improve our ability to compete for key segments of the market and add momentum to our margin ambitions.

“Today is an incredibly proud day for everyone in the Virgin Australia team. Each of our 8,000 team members has played an important role in getting us to this point. Many of our people are personally excited about the secondment opportunities, and we have seen this through the extraordinary response to the expressions of interest for pilot and cabin crew roles with Qatar Airways. Virgin Australia has a bright future, and we will continue to go from strength to strength with Qatar Airways by our side.

“We thank the Federal Treasurer for his decision, and join him in recognising the positive outcome for competition, consumers and jobs growth. Today is great news for the many stakeholders that rely on Virgin Australia’s success.”

Bain Capital Partner, Mike Murphy, said: “We’re delighted to welcome Qatar Airways Group as a partner in Virgin Australia.

“Virgin Australia has emerged as a strong and profitable company with an attractive market position, a loyal customer base, and an exciting growth trajectory. Now, through our partnership with Qatar Airways, we’re unlocking new areas of cooperation with one of the world’s leading airlines. Subject to final regulatory approvals."

The Dubai-based carrier marks its strongest-ever financial performance in its 15-year history, reporting a pre-tax profit of USD 674 million; a 16% growth compared to the previous financial year with a total revenue of USD 3.5 billion, marking an increase of 15% compared to USD 3 billion in 2023.

The new milestone was driven by the strength of Flydubai’s diverse network as well as its strong and agile business model.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Flydubai, said: “Flydubai continues to push boundaries and reach new milestones year-on-year. In its young, but impactful, journey, it has emerged as a key player in the aviation industry in Dubai and the region. Its business model is built on solid foundations and an unwavering commitment to supporting Dubai’s economic and tourism vision. Forging invaluable air links to underserved markets has supported Dubai’s thriving aviation hub, making Dubai one of the most accessible and connected cities in the world. We have seen evidence of the positive impact Flydubai has in the markets it operates to, stimulating free flows of trade and tourism and acting as a lifeline during challenging times.

Flydubai is well-placed for continued growth and success in the next chapter of its journey as it expands its horizons and operations, continues to invest in innovation and delivers an enhanced customer experience over the coming years. This could not have been possible without the UAE’s visionary leadership and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who have created the framework for a secure and safe environment, progressive policies and world-class infrastructure that foster success.”