$1.8bn business deals signed at air show
BUSINESS deals worth $1.8 billion were signed at the Bahrain International Airshow (BIAS) 2022, it has emerged.
His Majesty King Hamad’s personal representative Shaikh Abdulla bin Hamad Al Khalifa said in a statement yesterday that the air show has been a resounding success with agreements and contracts worth $1.8bn signed between local and international parties.
More than 50,000 people flocked to Sakhir Airbase to watch the spectacular displays over three days. The sixth edition of the event, which ended on Friday, was held under the patronage of His Majesty King Hamad.
More than 200 military and civil delegations, and 186 companies from more than 30 countries took part.
Transportation and Telecommunications Minister Mohammed Al Kaabi announced that the next edition will take place from November 13-15, 2024.
“The sixth edition has built on the show’s previous successes and strengthened BIAS’ position as a unique platform for business development, engagement and showcasing of the latest technological innovations in the aerospace industry,”said Mr Al Kaabi.
“The event continues to generate new opportunities in the aviation sector and the commercial and military aircraft markets, and provides the right environment for striking deals and co-operation agreements.”
The minister said the show’s success reaffirms Bahrain’s “strategic location, its business-friendly environment and its capacity to attract foreign investments”.
Among the participants were members of the British Royal Air Force’s globally-acclaimed aerobatic team The Red Arrows, who dazzled everyone with their aerobatics show.
The event also featured performances by the UAE’s Fursan Al Emarat, the Saudi Hawks, Global Stars, the US Air Force, Royal Saudi Air Force, Pakistan Air Force, UAE Air Force, Royal Bahraini Air Force, DHL and Gulf Air. Six countries had dedicated pavilions where they showcased their aviation products.
Forums
The event featured discussion forums for knowledge sharing, a section for university students, and entertainment and activities for families.
Mr Al Kaabi highlighted the country’s role as an aviation pioneer.
“The Bahrain International Airshow was founded a decade ago to emphasise the significance and position of the aviation industry in Bahrain and has now become one of the fastest growing events in the region,” the minister said.
The event witnessed a plethora of business deals, including a $100 million investment between the Asia Group’s Cargo Network and MENA Aerospace. Several memorandums were also signed by the ministry with Bosnia and Herzegovina, Cyprus and the United Kingdom.
Among other agreements are: a manufacturing deal between BDF and Emirates ‘Edge’, a core network infrastructure accord between Bahrain Airport Company and Beyon Solutions and a code-sharing deal between Gulf Air and Emirates Airways.
Bahrain Airport Services (BAS) signed up Al Sabah Construction as the official contractor for a new catering facility at the Sakhir Airbase.
Bahrain-based Texel Air signed an MoU with Sierra Nevada to form a strategic partnership to develop aviation opportunities in the Middle East and the world.
Source: https://www.gdnonline.com/Details/1147407/$18bn-business-deals-signed-at-air-show
