Aviation Sector

Fifty percent stake in AerVenture bought by Waha Capital

Sunday saw Abu Dhabi-based investment company Waha Capital announcing that it would invest a sum of $135 million (Dh495.4 million) to acquire 50 per cent stake in the $2.4 billion AerVenture, a subsidiary of Dutch aircraft leasing firm AerCap.

A delivery of 22 Airbus A320 aircraft has been taken by AerVenture which have been leased to airline companies around the world. Air France-KLM and Royal Jordanian are its customers.

Nexans wins cable deal for Saudi airport

Nexans, a leading France based cable company, has announced that it has bagged a contract from Almabani to supply special airfield lighting cables for King Abdulaziz International Airport (KAIA) in Jeddah, Saudi Arabia.

According to sources, Almabani is the general contractor for the current airfield facilities upgrade project at KAIA that will take place in three stages, the first of which should be finalized by the first quarter of fiscal 2011.

Qatar Airways signs contract for 24 Airbus A320 Family aircraft

Qatar Airways has announced that it has inked a firm contract for 24 Airbus A320 Family aircraft.

The sources said that the pact entails the firming up of a contract for four A321 aircraft.

At present, Qatar Airways operates 19 A320 Family aircraft, the Middle East's largest fleet. The new aircraft configured with a two-class cabin will be deployed to increase and expand services on regional, Eastern European and south west Asia services.

Saudi Arabia in talks to buy advanced fighter jets

Saudi Arabia has announced that it is stepping up efforts to purchase advanced fighter jets amid growing security concerns in the Gulf region over Iran.

The sources said that Saudi Arabia is in advance talks with Britain over possibly doubling a recent purchase of 72 Eurofighter Typhoons.

The sources further added that Saudi Arabia has held talks with Boeing on adding more F-15s jets. 

Abu Dhabi to build commercial aircraft

Mubadala Aerospace has announced that it has decided to manufacture commercial aircraft in Abu Dhabi within eight years.

Mubadala Development Company acts as catalyst for the economic diversification of Abu Dhabi.

Mubadala authorities stated in a communiqué that to manufacture the aircraft, the company has adopted a long-term strategy with its partners in the aircraft industry.

ADAC signs deals for Al Ain centre

Abu Dhabi Airports Company (ADAC) has informed that it has clinched agreements with two UK-based companies and a memorandum of understanding with a Swiss company for business expansion at the Al Ain Aerospace Cluster.

The sources close to the company said that the agreement between Adac and the UK-based Beagle Aerospace has been signed for warehousing of aircraft components at Al Ain. The company's proposals include the commissioning of a specialist composite repair facility within the cluster.