Fastjet has signed a deal with Emirates airline which will allow passengers of the Dubai carrier to buy tickets on its network in East and southern Africa as it aims to become the first discount pan-African carrier.
Fastjet is the British holding company for low-cost carriers in Africa. The company operates fastjet Tanzania and received a licence for fastjet Zimbabwe on Wednesday. There are plans for fastjet Zambia to take off before the end of the year.
Subsequently, passengers of the airline will be able to fly on the Emirates network via Dubai.
The deal with Emirates is “a significant validation of our operation, service and proven low-cost model,” said Richard Bodin, the fastjet chief commercial officer.
Will Horton, an analyst with Centre for Aviation, said that there were several advantages of Emirates partnering with fastjet.
“First there is the opportunity to have a wide reach with one brand rather than have to sign and manage agreements with distinct carriers in each country. There’s no need to look for a partner in Tanzania and another in Zimbabwe since Fastjet has a base in both. As Fastjet grows with four more bases, the deal can be expanded. It has the potential to be very scaleable.”
Fastjet warned investors last month that it would post losses this year – citing turbulence resulting from the elections in Tanzania, along with the depreciation of the Tanzanian shilling against the US dollar, and the poor performance of the commodities market.
The deal with fastjet is not the first of its kind for Emirates. In August 2014, the airline signed a partnership agreement with Nigeria’s Arik Air that opened up new routes throughout western Africa.
Emirates is boosting its presence in Africa as the UAE grows in popularity as a base for multinational companies. The UAE’s links with Africa have swelled in recent years amid rising trade and investments. Dubai Chamber of Commerce and Industry has been active in encouraging companies in Dubai to boost exports to a continent with a market of more than 1 billion people.
Flydubai, Emirates’ sister airline, is also bullish on the African market. The low-cost carrier launched its first route to Djibouti in 2009 and currently flies to 13 destinations in Africa including Burundi, Rwanda, Uganda and Tanzania.
Mr Horton said that Dubai and the larger Gulf region can be a hub for Africa. “It’s been a quieter part of the Gulf carriers’ growth but is important with more to come.”
Meanwhile, Alan Joyce, the Qantas chief executive, yesterday said he is looking at ways to expand its partnership with Emirates.
“We would like to see Emirates flying into more Australian destinations, which they’re keen on,” Mr Joyce told Reuters on the sidelines of the Capa World Aviation Summit in Helsinki.
“We think it’s working so well, there has to be more we can do,” he said. Qantas will also discuss with Emirates the best way to use slots at London Heathrow, with two that were leased to British Airways reverting to Qantas at the end of 2017.
The Australian carrier agreed to an alliance with Emirates in 2012 as part of its turnaround, switching its hub for European flights to Dubai – the Emirates base – from Singapore and coordinating on pricing, sales and schedules.
selgazzar@thenational.ae
* with Reuters
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
TICKETS
Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.
The biog
Name: Timothy Husband
Nationality: New Zealand
Education: Degree in zoology at The University of Sydney
Favourite book: Lemurs of Madagascar by Russell A Mittermeier
Favourite music: Billy Joel
Weekends and holidays: Talking about animals or visiting his farm in Australia
Expo details
Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia
The world fair will run for six months from October 20, 2020 to April 10, 2021.
It is expected to attract 25 million visits
Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.
More than 30,000 volunteers are required for Expo 2020
The site covers a total of 4.38 sqkm, including a 2 sqkm gated area
It is located adjacent to Al Maktoum International Airport in Dubai South
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
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- Senior process engineer: Dh28,000 to Dh38,000
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- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk