Saudi Arabia expects the project to be completed in 2015, the General Authority for Civil Aviation has said.
The airline’s CEO Akbar al Baker expressed concerns about wing cracks on the aircraft.
The Kingdom will grant new airlines licences in September to operate both locally and internationally.
The Dubai-based logistics firm made a first quarter net profit of Dhs61 million this year.
Abu Dhabi International Airport saw 21.2 per cent increase in traffic year-on-year.
Abu Dhabi’s investment fund Aabar is reportedly looking to exit its its stake in the German carmaker.
This is the first time Boeing has signed a direct outsourcing deal for parts production in the Arab region.
The carrier said that the loss was “justified” and blamed it on the rising fuel prices.
Abu Dhabi National Energy Company (TAQA) booked a profit of $113 million on the sale.
Only one creditor has not yet accepted the $2.2 billion debt restructuring plan proposed by the Dubai-based shipbuilding unit.
The British defence contractor said that it had signed a contract to build 48 Typhoon aircraft for the Saudi Arabian air force.
The strong performance of regional airlines in February this year, suggests that the region has now “fully recovered,” said IATA.
The Abu Dhabi -based carrier recorded a 28 per cent year-on-year rise in revenues during the first quarter of this year.
The airline is struggling with rising fuel costs and increasing competition in the region.
Strata, Abu Dhabi’s aerospace parts manufacturer has become a worldwide name in just two years.
The UAE-founded international ports company has cut its debts.
Dubai’s Jebel Ali Free Zone is planning to launch a syndicated loan to partly refinance its $2 billion Sukuk maturing in November.
The port operator has said that it will pay off its loan, which matures in October, six months ahead of schedule.
India-based Kingfisher Airlines, which operates daily flights to Dubai, said that it was cancelling all its international routes.
The strike caused by the carrier’s employees over a pay hike led to the cancellation of 10 flights within a four-hour period.
Despite the threat of regional upheaval and global downturns, the UAE is still the darling of the luxury car industry.
Emirates plans to hire 3,800 new cabin staff this year, taking its total number of in-flight crew to nearly 20,000.
The outspoken head of Qatar Airways has expressed support for the planemakers as they struggle to resolve production flaws.
Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.
Airlines in the region posted a 14.5 per cent year-on-year increase in January this year, according to the IATA.
The number of people killed in traffic accidents fell by 12.8 per cent last year, according to the interior ministry.
The UAE has reportedly expressed interest in buying the V-22 Osprey, a tilt-rotor aircraft from the US.
More than 1.1 million passengers passed through the UAE capital’s international airport during January 2012.
The airline’s net profit for the fourth quarter of 2011 increased by seven per cent year-on-year to reach Dhs78.7 million.
The proceeds from the dual-currency loan will be used to fund the first phase of the Al-Sufouh project.