Brent crude oil futures for July rose 32 cents, or 0.5%, to $66.76 a barrel by 0143 GMT, while U.S. West Texas Intermediate for July was at $63.93 a barrel, up 35 cents, or 0.6%
The United Arab Emirates announced on Friday that it would reopen its borders and airspace to Qatar after boycotting the tiny energy-rich country alongside its Gulf allies since 2017
Unfazed by the slowdown in West Asia, Indian carriers are expanding their network in the region. IndiGo is launching flights to Sharjah later this month and plans to launch a service to Doha its seventh international destination in April. GoAir is likely to begin its international operations with flights from Kochi to Doha and Dammam in the second half of the year.Around 22 million passengers travelled between India and countries in the West Asia accounting for nearly 40 per cent of all international air traffic from India in 2016. This does not include passengers who travelled onward to other destinations from hubs such as Dubai or Doha. This makes the region an attractive bet for Indian airlines.However business was impacted last year and demand growth did not match the growth in capacity. Airline yields which are revenue charged per passenger came under pressure as low crude oil price impacted local economies. Both Air India Express and Jet Airways have said their financial ..
Despite difficult working conditions, Indians are still seeking jobs in Gulf countries