UAE and New Zealand Strengthen Diplomatic Ties and Expand Cooperation

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 The visit of New Zealand's Prime Minister, Rt. Hon Christopher Luxon, to the United Arab Emirates on January 14, 2025, marked a milestone in the 40-year diplomatic relationship between the two nations. Meeting with His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, the leaders reaffirmed their shared commitment to fostering deeper bilateral cooperation in trade, sustainability, and global peace efforts. Milestones in Trade and Economic Relations The visit was highlighted by the signing of two critical agreements: The Comprehensive Economic Partnership Agreement (CEPA) The Agreement on Promotion and Protection of Investments With bilateral non-oil trade reaching over $642 million in the first nine months of 2024, an 8% increase compared to 2023, the leaders emphasized the agreements' potential to unlock new economic opportunities, reduce tariffs, and strengthen supply chains. New Zealand's strong agribusiness sector, including dairy, meat, and horticultu...
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Air Arabia's Resilience Amid Industry Challenges: A Closer Look at Fourth Quarter Performance

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Air Arabia

 Despite facing headwinds in the aviation sector, Air Arabia demonstrated resilience in the fourth quarter of 2023, maintaining solid revenue growth and operational efficiency amidst challenging market conditions.

The UAE-based budget airline reported a 37 percent decrease in net profit for the final quarter of 2023, citing softened yield margins and supply chain challenges as contributing factors. Despite this decline, Air Arabia recorded a notable 11 percent increase in revenue, reaching Dh1.54 billion, driven by sustained passenger demand and effective capacity management.

Throughout the quarter, Air Arabia maintained a strong passenger seat factor of 81 percent, underscoring its ability to optimize seat utilization and maximize revenue generation. The airline's commitment to operational excellence and customer service excellence remained unwavering, despite the prevailing industry challenges.

Sheikh Abdullah Al Thani, Chairman of Air Arabia, emphasized the company's resilience and strategic focus on navigating market volatility while delivering value to shareholders and customers. Despite external pressures, Air Arabia's solid financial performance and operational stability position it favorably within the competitive aviation landscape.

Looking ahead, Air Arabia remains committed to driving growth and innovation, leveraging its robust infrastructure and customer-centric approach to seize opportunities in a rapidly evolving market. By prioritizing efficiency, agility, and customer satisfaction, the airline aims to sustain its competitive edge and deliver long-term value to stakeholders.

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