Picture used for illustrative purpose.
European plane maker Airbus lost 1.1 billion euros ($1.3 billion) last year amid an unprecedented global slump in air travel because of the pandemic,
In a statement on Wednesday, the GCAA said, "Currently the UAE does not have any UAE registered aircraft operating with PW4000 engines. And, there are no foreign aircraft fitted with the mentioned engine operating to UAE airports and airspace."
The planemaker also said it hoped to avoid consuming cash before M&A and customer financing in the second half of the year after a quarterly outflow of 4.4 billion euros as deliveries tumbled due to the coronavirus collapse in air travel.
The non-cash payments in the UAE alone are expected to account for 73 per cent of the total transaction volume by the end of 2023, according to a recent report.
Helsinki: Housing prices in Finland are expected to have the biggest drop this year since 1993, according to a housing market review conducted by Hypo, a credit institution specialising in the sector.
Iraq on Saturday presented an ambitious plan to turn itself into a regional transportation hub by developing its road and rail infrastructure, linking Europe with the Middle East.