DUBAI: Etihad Airways’ hub Abu Dhabi International Airport expects a slowdown in the pace of passenger growth this year, the acting chief executive of operator Abu Dhabi Airports said on Monday.
The UAE’s second-busiest commercial airport expects to handle “around 25 million” passengers in 2017 compared with 24.5 million in the previous year, Abdul Majeed Al-Khoori told Reuters by phone.
That would represent a growth of around 2 percent compared with 5.1 percent in 2016.
“This has been a tough year for aviation globally but for the region as well,” an Abu Dhabi Airports spokeswoman said. “We have seen some slowdown in the growth of the airlines that use Abu Dhabi Airport, we also have the regional political situation, these factors are all playing into the slightly slower growth.”
The pace of growth at rapidly expanding Middle Eastern airlines has slowed this year against a more challenging economic backdrop. Travel restrictions imposed by US President Donald Trump’s administration and political crisis in the Gulf have added to the pressure.
Etihad Airways, the main carrier at Abu Dhabi International Airport, is pursuing a strategy review and recruiting for a new group chief executive to succeed veteran boss James Hogan who left the airline on July 1.
On Sunday, the US lifted restrictions on laptops for flights from Abu Dhabi. However, flights between Abu Dhabi and Doha have been suspended since last month after the UAE and three other Arab countries cut diplomatic and economic ties with Qatar.
The Abu Dhabi airport handled 10.1 million passengers in the five months to May 31, an increase of 1.8 percent compared with the same period a year ago
The UAE’s busiest airport is Emirates hub Dubai International Airport, which is also the world’s busiest for international travelers.
Dubai International handled 36.97 million passengers in the first five months of 2017, a 6.7 percent increase on the same period last year.
Abu Dhabi airport sees slower passenger growth in 2017
Abu Dhabi airport sees slower passenger growth in 2017
Closing Bell: Saudi main index closes in red at 11,167
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 46.43 points, or 0.41 percent, to close at 11,167.54.
The total trading turnover of the benchmark index was SR4.88 billion ($1.30 billion), as 66 of the listed stocks advanced, while 192 retreated.
The MSCI Tadawul Index decreased, down 5.52 points, or 0.37 percent, to close at 1,506.55.
The Kingdom’s parallel market Nomu lost 153.40 points, or 0.65 percent, to close at 23,486.52. This comes as 32 of the listed stocks advanced, while 31 retreated.
The best-performing stock was Tourism Enterprise Co., with its share price surging 9.95 percent to SR14.36.
Other top performers included Mobile Telecommunication Co., Saudi Arabia, which saw its share price rise by 5.32 percent to SR11.48, and Al Masar Al Shamil Education Co., which saw a 4.86 percent increase to SR22.89.
On the downside, Almoosa Health Co. was the day’s weakest performer, with its share price falling 4.81 percent to SR150.40.
Dallah Healthcare Co. fell 3.81 percent to SR113.50, while Saudi Research and Media Group dropped 3.44 percent to SR100.90.
On the corporate front, Arabian Plastic Industrial Co. has signed a non-binding memorandum of understanding with K. K. Nag to explore the establishment of a specialized manufacturing facility for expanded polypropylene products.
According to a Tadawul statement, the agreement sets out initial mutual obligations and rights between the two parties as part of APICO’s broader expansion strategy to increase production capacity and meet rising industrial demand.
The company’s share price rose 1.21 percent to SR43.52 on the parallel market.
