The Abu Dhabi government has transferred the ownership of Etihad Aviation Group — the parent of Etihad Airways — to holding company ADQ, in a move aimed at transforming the emirate into a global aviation hub.
The Supreme Council for Financial and Economic Affairs "transferred full ownership" of EAG to ADQ, it said in a statement on Tuesday.
"The aviation sector is critical to Abu Dhabi’s economic growth plans and prosperity. With Etihad joining ADQ’s mobility and logistics cluster, we are well positioned to develop a globally competitive and integrated aviation portfolio to enhance Abu Dhabi’s connectivity and overall value proposition," said Mohamed Alsuwaidi, managing director and chief executive of ADQ.
With the addition of EAG, ADQ’s aviation portfolio includes Abu Dhabi Airports, Wizz Air Abu Dhabi and ADQ Aviation & Aerospace Services Company.
"The transfer of EAG complements ADQ's efforts to transform Abu Dhabi into a global aviation hub anchored in end-to-end airport service excellence," ADQ said.
The move, aimed at supporting Abu Dhabi’s vision to create an integrated aviation hub, is in line with ADQ’s aviation strategy.
The company is focused on "delivering airlines and passengers a globally competitive value proposition specialising in aircraft engineering, cargo and ground handling services and an unrivaled customer experience through the anticipated opening of Abu Dhabi Airports’ new Midfield Terminal", it said.
On Monday, ADQ said it plans to create an aviation services giant with about Dh9.4 billion ($2.56bn) in assets by combining its stakes in three aviation assets with Abu Dhabi Aviation (ADA).
The move is expected to create a "globally competitive aviation business" based in Abu Dhabi, positioning the capital as a global hub for maintenance, repair and overhaul (MRO) services, logistics, supply chain and advanced engineering capabilities. And, after completion, ADQ would own about 59.44 per cent of the entire issued share capital of ADA.
Earlier this year, EAG’s ancillary businesses were transitioned into ADQ to create a new integrated aviation support services company, ushering in a new wave of growth for the sector.
"EAG will continue its aspiration to be a leading global airline that delivers a best-in-class customer experience, unrivalled services and care for its guests as part of ADQ’s aviation portfolio," ADQ said on Tuesday.
Established in 2018, ADQ is an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises. The move for it to fully own EAG comes at a time when Abu Dhabi is seeking to diversify its economy from oil, with a focus on sectors such as advanced technology, manufacturing and tourism.
Etihad Airways is a global leader in air travel, operating to 63 destinations in 42 countries.
The airline reported a record profit in the first half of 2022 — the highest in its 18-year history — citing a strong rebound in passenger travel demand, growth in cargo revenue and the lifting of domestic Covid-19 curbs.
Etihad returned to profitability with a core operating income of $296 million in the first six months of this year, compared to a half-year loss of $392m in 2021, buoyed by a fourfold increase in the number of passengers carried during the period.
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
If you go
Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.
Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com
A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com
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- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
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Friday (UAE kick-off times)
Real Sociedad v Leganes (midnight)
Saturday
Alaves v Real Valladolid (4pm)
Valencia v Granada (7pm)
Eibar v Real Madrid (9.30pm)
Barcelona v Celta Vigo (midnight)
Sunday
Real Mallorca v Villarreal (3pm)
Athletic Bilbao v Levante (5pm)
Atletico Madrid v Espanyol (7pm)
Getafe v Osasuna (9.30pm)
Real Betis v Sevilla (midnight)
GAC GS8 Specs
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Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
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PSG's line up
GK: Alphonse Areola (youth academy)
Defence - RB: Dani Alves (free transfer); CB: Marquinhos (€31.4 million); CB: Thiago Silva (€42m); LB: Layvin Kurzawa (€23m)
Midfield - Angel di Maria (€47m); Adrien Rabiot (youth academy); Marco Verratti (€12m)
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
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Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
