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Updates on trade and aviation from Turkey, Syria, and Saudi Arabia

by enterpriseam adminLogistics (MENA)
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TRADE-

Turkish-Syrian border crossings Salama and Bab Al Hawa will start operating around-the-clock, in a bid to streamline and expand the flow of traded goods between the two countries, according to a statement released last week. The new arrangement came as part of a new customs agreement that the two sides signed last week to collaborate on joint customs procedures. The Latakia-Mersin shipping service is also up for expansion as part of the pair’s push to ramp up trade flows.

Meanwhile, Turkey and Syria resumed direct road transport after a 13-year halt, Anadolu reports, citing Turkish Transport Minister Abdulkadir Uraloğlu. The move will cut shipping times by allowing Turkish and Syrian trucks to cross the border without transferring goods to a locally-licenses trucks.

Turkey’s going all in on Syria:

  • A USD 4 bn investment to develop Damascus International Airport by a Qatar-US-Turkey consortium;
  • A spate of Turkish investments in industrial zones for SMEs across the country;
  • A freezone in Turkey-bordering Idlib currently under development, spanning 1.1 mn sqm area and including a dry port.
  • Ankara is also set to export some 2 bn cbm of gas to Syria to boost its neighbor’s electricity generation capacity by 1.3 GW

AVIATION-

PIF-owned aircraft lessor AviLease currently has 105 aircraft in its order book, mainly of the Airbus A350 freighter model, slated for delivery after 2030 along with the Boeing 737 order, CEO Ted O’Byrne told Bloomberg on Friday (watch, runtime: 04:43)

Looking forward, AviLease aims to be one of the top 10 in the industry by more than doubling its balance sheet to USD 20 bn by 2030. This growth will be driven by direct investments and M&A agreements, such as the acquisition of Standard Chartered's aircraft leasing arm in November 2023, O’Byrne said.

AviLease’s portfolio: Launched three years ago, the lessor has a portfolio of about USD 8 bn, comprising up to 200 aircraft leased to 50 airlines in 30 countries. The firm targets expanding its footprint to include the US, India, and Asia, with the main focus on Saudi Arabia, which holds 20% of its booked aircraft.

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