Germany’s air taxi developer Lilium sees “tremendous opportunities” in the Middle East, particularly the GCC, where the development of megacities calls for solutions to minimise traffic and slash carbon emissions.
Munich-based Lilium is looking at potential opportunities in the region including the UAE, Kuwait, Bahrain and Oman, for its electric Vertical Take-Off and Landing (eVTOL) vehicles, Sebastien Borel, senior vice president of commercial at Lilium, told The National.
"We are talking to many players in region. Whether or not it lands, it depends on them and us from a production perspective committing to the Middle East," he said.
"Europe, the US and Middle East will be our strongest regions, so we will have to balance the offering in each of these regions in a timely manner for [production] slots."
This comes after Saudia signed an initial agreement with Lilium in October to buy 100 of its aircraft to serve its domestic network.
With this deal, Saudia became the first airline in the Middle East and North Africa to introduce all-electric aircraft to its network, according to Lilium.
Saudia will use the aircraft for point-to-point connections as well as feeder connections to its hubs for business-class passengers.
"The Middle East offers tremendous opportunities, with its megacities, urban development, megaprojects, so they can start planning with eVTOL in mind," Mr Borel said.
"This part of the world is one of the most attractive regions because it's new and there's lot of demand to avoid traffic and cut carbon emissions."
GCC countries such as the Emirates have "tons of opportunities" for eVTOLs as the premium fares will initially be affordable mainly for the "higher middle-class", he said.
Lilium is seeking to replace road trips and short-haul journeys by aircraft and helicopters with its zero-operations-emissions jets.
Amid a push for economic diversification away from oil, GCC countries are talking to aircraft manufacturers about knowledge sharing, hiring locals and setting up domestic manufacturing plants.
Lilium is considering these needs as part of its discussions with potential customers in the region, Mr Borel said.
"We have a lot of those requests in the region to bring knowledge sharing, technical know-how, training and production. We are very interested in this," he said.
"We are having those discussion and we will see if it lands somewhere. We’re contemplating having such activities with key countries," Mr Borel said, adding that it is a "great opportunity" for sustainable operations and job creation.
In the first phase of commercial operations, Lilium is targeting the premium general and business aviation markets. This includes charter operators, fractional ownership and high-net-worth individuals.
In the second phase, Lilium plans to roll out the six-passenger shuttle configuration to address demand for short regional services.
Through sales in Saudi Arabia, Brazil, Florida, southern France, Andalusia, along with Norway, Benelux, Germany and northern Italy, Lilium is targeting prime locations with high demand for premium air mobility, and where sustainability is a main priority.
Asked how Lilium is tackling challenges facing the industry such as certification and raising funding, Mr Borel said that the company seeks the "right partners" for partnership agreements who can help with capital, landing sites (so-called verti-ports), regulatory approvals and real estate.
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
Four motivational quotes from Alicia's Dubai talk
“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”
“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”
“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”
“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”
Qosty Byogaani
Starring: Hani Razmzi, Maya Nasir and Hassan Hosny
Four stars
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
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Rock in a Hard Place: Music and Mayhem in the Middle East
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The flights
Air France offer flights from Dubai and Abu Dhabi to Cayenne, connecting in Paris from Dh7,300.
The tour
Cox & Kings (coxandkings.com) has a 14-night Hidden Guianas tour of Guyana, Suriname and French Guiana. It includes accommodation, domestic flights, transfers, a local tour manager and guided sightseeing. Contact for price.
The Kites
Romain Gary
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
ENGLAND SQUAD
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood
DSC Eagles 23 Dubai Hurricanes 36
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Tries: Bright, O’Driscoll
Cons: Carey 2
Pens: Carey 3
Hurricanes
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Cons: Powell 3
Specs
Engine: 51.5kW electric motor
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Torque: 175Nm
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Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."