Air Arabia in $14bn deal to buy 120 Airbus A320s

Last month Air Arabia announced an agreement with Abu Dhabi-based giant Etihad Airways to launch a new low-cost airline based in the UAE capital. (File/AFP)
Updated 18 November 2019

Air Arabia in $14bn deal to buy 120 Airbus A320s

  • Air Arabia currently operates a total fleet of 53 Airbus A320 and A321 aircraft
  • The new carrier, Air Arabia Abu Dhabi, will be launched in “due course,” Etihad said at the time

DUBAI: Air Arabia said Monday it would buy 120 Airbus A320s in a deal worth $14 billion that represents a major expansion for the United Arab Emirates low-cost carrier.

“The first delivery is expected to start in 2024,” said Adel Al-Ali, the CEO of Air Arabia, based in the emirate of Sharjah which borders Dubai.

Air Arabia currently operates a total fleet of 53 Airbus A320 and A321 aircraft.

Last month it announced an agreement with Abu Dhabi-based giant Etihad Airways to launch a new low-cost airline based in the UAE capital.

The new carrier, Air Arabia Abu Dhabi, will be launched in “due course,” Etihad said at the time.

Etihad, established in 2003 by the oil-rich Gulf emirate’s government, has faced stiff competition from Dubai aviation giant Emirates and Doha-based Qatar Airways.


China suspends planned tariffs on some US goods

Updated 15 December 2019

China suspends planned tariffs on some US goods

  • Chinese tariffs were supposed to target goods ranging from corn and wheat to vehicles and auto parts
  • Beijing agreed to import at least $200 billion in additional US goods and services over the next 2 years

SHANGHAI: China has suspended additional tariffs on some US goods that were meant to be implemented on Dec. 15, the State Council’s customs tariff commission said on Sunday, after the world’s two largest economies agreed a “phase one” trade deal on Friday.
The deal, rumors and leaks over which have gyrated world markets for months, reduces some US tariffs in exchange for what US officials said would be a big jump in Chinese purchases of American farm products and other goods.
China’s retaliatory tariffs, which were due to take effect on Dec. 15, were meant to target goods ranging from corn and wheat to US made vehicles and auto parts.
Other Chinese tariffs that had already been implemented on US goods would be left in place, the commission said in a statement issued on the websites of government departments including China’s finance ministry. “China hopes, on the basis of equality and mutual respect, to work with the United States, to properly resolve each other’s core concerns and promote the stable development of US-China economic and trade relations,” it added.
Beijing has agreed to import at least $200 billion in additional US goods and services over the next two years on top of the amount it purchased in 2017, the top US trade negotiator said Friday.
A statement issued by the United States Trade Representative also on Friday said the United States would leave in place 25% tariffs on $250 billion worth of Chinese goods.