How UAE defence giant EDGE Group plans to double its exports
The UAE defence conglomerate has put an aggressive strategy in place to increase its share of exports while navigating the growing gap between East and West.
On 1 June, airBaltic will launch a new route linking the Estonian capital of Tallinn with the Swedish capital, Stockholm.
According to Tero Taskila, chief commercial officer of airBaltic, “More than 3 million tourists from Scandinavian countries visit Estonia each year. We clearly see that these markets are underserved and require more direct connections to Estonia. By introducing the Tallinn–Stockholm route, airBaltic is making a strategic step. We will serve seven direct routes from Tallinn, offer seven daily flights to Riga, and seventy seven onward destinations via Riga in Europe, CIS and the Middle East.”
The new route will operate from Monday to Friday, with no weekend service.
The UAE defence conglomerate has put an aggressive strategy in place to increase its share of exports while navigating the growing gap between East and West.
The US Congress has raised concerns about how inflation rates and cuts in main acquisition programmes could affect the US military.
Washington’s ageing inventory and the pace Moscow and Beijing have been modernising their capabilities put in check the US Nuclear deterrence.
The Pentagon has been operating under temporary funding since October 2023, which has impacted its main acquisition and development programmes, increasing the capability gap between the US and China.
In 2023, defence spending increased by an unprecedented 11% across European NATO countries and Canada. Since 2014, the group has spent an additional US$600 billion on defence.
The DoD requested nearly US$850 billion to fund operations over the next fiscal year. Despite the amount being 1% higher than the FY2024 budget request, it has not covered the 3% inflation rate, which could impact the DoD’s main programmes in the medium and long term.