{"id":82386,"date":"2024-11-14T00:00:00","date_gmt":"2024-11-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/14\/today-qatar-and-abu-dhabi-in-the-running-to-buy-pakistan-international-airlines-air-cargo-traffic-is-set-to-double-by-2043-boeing\/"},"modified":"2024-11-14T00:00:00","modified_gmt":"2024-11-14T00:00:00","slug":"today-qatar-and-abu-dhabi-in-the-running-to-buy-pakistan-international-airlines-air-cargo-traffic-is-set-to-double-by-2043-boeing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/14\/today-qatar-and-abu-dhabi-in-the-running-to-buy-pakistan-international-airlines-air-cargo-traffic-is-set-to-double-by-2043-boeing\/","title":{"rendered":"TODAY: Qatar and Abu Dhabi in the running to buy Pakistan International Airlines + Air cargo traffic is set to double by 2043 -Boeing"},"content":{"rendered":"

Good morning, everyone. <\/strong>We have a relatively busy issue to close out the week, with updates on Saudi Arabia\u2019s megaproject Neom, Oman\u2019s Shinas Port, DP World\u2019s subsidiary P&O Ferries, and more. Let\u2019s dive in. <\/p>\n

HAPPENING TODAY-<\/p>\n

The <\/strong>Bahrain International Air Show<\/a><\/strong> is on its second day today, and will run through Friday, 15<\/strong> November in Bahrain<\/strong>. The event gathers key regional industry leaders and experts to network and showcase technological advancements in the aviation industry to buyers around the world. <\/p>\n

\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- <\/strong>Pakistan International Airlines could be sold to Qatar or Ab<\/strong>u Dhabi<\/strong>: <\/strong>The Pakistani government could sell a majority stake in Pakistan International Airlines to the government of Abu Dhabi or Qatar, as it moves forward with its plan to privatize the flag carrier, Pakistani news outlet Aaj<\/a> reports. Takeover proposals, with pre-agreed conditions, are already underway, the outlet reports. The Pakistani government is accepting expressions of interest for the sale until 30 November.<\/p>\n

Background:<\/strong> The government-to-government sale comes after the airline received only a single bid of PKR 10 bn (USD 36 mn) for a 60% stake in the bidding process \u2014 below the minimum price set by the government. The bid was submitted last month<\/a> by a consortium led by Pakistani real estate developer Blue World.<\/p>\n

<\/a> #2- <\/strong>Air cargo traffic is set to double by 2043<\/strong>, with a rise of 4% per year, on the back of growth in emerging markets, Boeing said in its 2024 World Air Cargo Forecast (WACF)<\/a>report<\/a>(pdf)<\/a>. East and South Asian markets are projected to witness the swiftest air cargo traffic increase per year, with the Asia-Pacific fleet alone expected to nearly triple in size. India\u2019s domestic air cargo market is slated to quadruple to address growing e-commerce networks.<\/p>\n

The breakdown:<\/strong> The global air cargo fleet is expected to increase to 3.9k freighters by 2043, up from 2.3k in 2023, with large widebody freighter fleet projected to nearly double. Of these new deliveries, almost half will go towards replacing retiring freighters, integrating more capable and fuel-efficient models. <\/p>\n

More express carriers expected: <\/strong>Growth in the e-commerce sector and its supporting distribution networks is expected to drive express carrier demand to grow faster than the industry average, with express carriers forecasted to serve 25% of the air cargo market by 2043, up from the current 18%. <\/p>\n

<\/a> #3- Airbus is looking to double its industrial activities in the UAE over the next <\/strong>decade<\/strong>, a plan that includes developing a base of local experience and curated talent, Airbus Air Power Head Jean-Brice Dumont told Wam<\/a>. Durmont added that Airbus currently equips all its aircraft with UAE-made parts, distinguishing the nation as a key player in the aviation sector. The aircraft manufacturing titan is keen to strengthen its existing partnerships with UAE-based firms including Edge Group, EPI<\/a>, and Strata, Durmont said.<\/p>\n

\n

MARKET WATCH- <\/p>\n

#1-<\/strong> Oil prices rebounded slightly this morning after falling to their lowest level in <\/strong>two weeks on Tuesday<\/strong>, after Opec+ cut growth forecasts for global oil demand for the fourth month in a row, Reuters<\/a> reports. Brent crude futures were up 0.5% to USD 72.28 a barrel, while US West Texas Intermediate crude (WTI) futures gained 0.5% to USD 68.43.<\/p>\n

#2- Baltic index breaks its streak: <\/strong>The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 fell 0.2%<\/a> yesterday, ending a six-day streak of gains. The capesize index eased seven points, while the panamax index gained 14 points and the smaller supramax shed 15 points.<\/p>\n

DATA POINT- <\/p>\n

Abu Dhabi\u2019s SMEs boost exports in 2024<\/strong>:<\/strong> Some 14 SMEs participating in the Abu Dhabi Department of Economic Development\u2019s (Added) SME Export Matching Program reported a 44% y-o-y increase in their exports in 2024, with total exports expected to hit AED 387 mn, according to a statement<\/a>. <\/p>\n

About the program:<\/strong> The initiative links participants to over 800 strategic stakeholders in a number of countries, including Saudi Arabia, Oman, Kuwait, Bahrain, Qatar, Egypt, the US, India, and Canada. <\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

Egypt will host the <\/strong>Autotech Exhibition<\/a><\/strong> on Sunday, 17 November until Tuesday, 19 <\/strong>November<\/strong> in Cairo. The event will bring together prominent local and international companies to discuss and evaluate the latest developments and trends in the automotive aftermarket and feeder industries.<\/p>\n

Check out our full calendar<\/strong> at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"

What we\u2019re tracking this morning regionally and around the 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