BERLIN: Qatar Airways will not take delivery of any Airbus A320neo aircraft this year as it looks to change its order to larger A321neos, Chief Executive Akbar Al-Baker said on Wednesday.
The Gulf carrier has refused to take delivery of Airbus A320neos since December 2015, initially after performance issues with the aircraft’s new engines.
“I have to scream at Airbus to get my planes faster. I am nearly eight destinations behind schedule because of delays in aircraft deliveries. I hope this will be resolved during this year,” Al-Baker told reporters at the ITB travel fair in Berlin.
Qatar Airways is around 10 aircraft short on deliveries from Airbus at present, including A320neos and wide body A350s, he said.
The Gulf carrier wants to change its order for 50 A320neo family jets, which includes A319, A320 and A321 versions, to take only the larger A321neos, which would likely be powered by CFM engines.
Asked to comment, an Airbus spokesman said: “We are working with our customers to deliver aircraft to their full satisfaction.”
Al-Baker said that unlike rivals, Qatar Airways was not reducing capacity growth or delaying plane orders, saying Qatar Airways had always been “prudent” in how it deploys capacity.
Rival Gulf carrier Emirates said in January it was undertaking a “modest restructuring,” a month after Airbus said it had reached an agreement with the airline to postpone deliveries of 12 A380 planes over two years.
Seeking to extend its reach Qatar Airways has been buying stakes in other airlines, and Al-Baker said India was next on Qatar’s list, once it has finalized a deal with Italian carrier Meridiana.
Al-Baker said he wanted to set up a full-service Indian carrier to fly domestic routes with around 100 narrowbody planes, now that the country had opened up the airline industry to foreign investors.
Under current rules foreign airlines are still restricted to holding a maximum stake of 49 percent in Indian carriers, but other foreign investors may own up to 100 percent.
Qatar’s sovereign wealth fund QIA could own the carrier, and Qatar Airways would then take a stake, Al-Baker said. “We work in partnership. They may use us to run the airline,” he said.
Qatar Airways has previously talked of investing in Indigo, but missed out on taking a stake in its IPO.
Al-Baker said taking a stake in an existing carrier was off the table now, but that Qatar Airways was talking to two Indian carriers to code-share with them.
Qatar Airways chief says will not take any Airbus A320neos in 2017
Qatar Airways chief says will not take any Airbus A320neos in 2017
Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn
RIYADH: Saudi Arabia’s foreign reserves climbed 3 percent month on month in January to SR1.78 trillion, up SR58.7 billion ($15.6 billion) from December and marking a six-year high.
On an annual basis, the Saudi Central Bank’s net foreign assets rose by 10 percent, equivalent to SR155.8 billion, according to data from the Saudi Central Bank, Argaam reported.
The reserve assets, a crucial indicator of economic stability and external financial strength, comprise several key components.
According to the central bank, also known as SAMA, the Kingdom’s reserves include foreign securities, foreign currency, and bank deposits, as well as its reserve position at the International Monetary Fund, Special Drawing Rights, and monetary gold.
The rise in reserves underscores the strength and liquidity of the Kingdom’s financial position and aligns with Saudi Arabia’s goal of strengthening its financial safety net as it advances economic diversification under Vision 2030.
The value of foreign currency reserves, which represent approximately 95 percent of the total holdings, increased by about 10 percent during January 2026 compared to the same month in 2025, reaching SR1.68 trillion.
The value of the reserve at the IMF increased by 9 percent to reach SR13.1 billion.
Meanwhile, SDRs rose by 5 percent during the period to reach SR80.5 billion.
The Kingdom’s gold reserves remained stable at SR1.62 billion, the same level it has maintained since January 2008.
Saudi Arabia’s foreign reserve assets saw a monthly rise of 5 percent in November, climbing to SR1.74 trillion, according to the Kingdom’s central bank.
Overall, the continued advancement in reserve assets highlights the strength of Saudi Arabia’s fiscal and monetary buffers. These resources support the national currency, help maintain financial system stability, and enhance the country’s ability to navigate global economic volatility.
The sustained accumulation of foreign reserves is a critical pillar of the Kingdom’s economic stability. It directly reinforces investor confidence in the riyal’s peg to the US dollar, a foundational monetary policy, by providing SAMA with ample resources to defend the currency if needed.
Furthermore, this financial buffer enhances the nation’s sovereign credit profile, lowers national borrowing costs, and provides essential fiscal space to navigate global economic volatility while continuing to fund its ambitious Vision 2030 transformation agenda.
