Flydubai has signed a codeshare partnership with Air Canada to boost connectivity between the North American country and the Middle East.
As part of the agreement, Air Canada's marketing code will be placed on nine routes operated by flydubai from its hub in the emirate, allowing passengers to travel with a single ticket, flydubai said on Wednesday.
The routes include Jeddah, Dammam and Madinah in Saudi Arabia, Bahrain, Sri Lanka's Colombo and Pakistan's Karachi.
Through an interline agreement passengers will also be able to connect from Dubai to more than 60 flydubai destinations in the Middle East, East Africa and South Asia. Of these, more than 30 routes are unique to flydubai and not flown by other partners of Air Canada.
“We look forward to growing this partnership that offers passengers the benefits and the convenience of connecting via the Dubai aviation hub and we look forward to welcoming them on board soon,” said Hamad Obaidalla, chief commercial officer of flydubai.
The two airlines are also planning to further improve the connection process in Dubai and working towards introducing “expanded features and benefits for one another’s loyalty programme members to be announced later this year”, flydubai said.
The partnership will help Air Canada tap further into the Middle East and Indian Subcontinent, which are a “growing source” of immigration and travel to Canada, said its executive vice president Mark Galardo.
“This new partnership is a perfect complement to Air Canada’s non-stop service to Dubai from Toronto and Vancouver, and growing our relationship with Emirates, flydubai’s codeshare partner,” he said.
Emirates and Air Canada started their codeshare deal last November.
This new partnership is a perfect complement to Air Canada’s non-stop service to Dubai from Toronto and Vancouver, and growing our relationship with Emirates
Mark Galardo,
executive vice president at Air Canada
“Together we look forward to bringing together our networks and building a better experience for our customers,” Mr Galardo said.
Flydubai, which commenced operations in 2009, continues to expand its partnerships as it embarks on the next phase of its expansion.
At the Arabian Travel Market conference in Dubai earlier this month, the Dubai-based airline's chief executive Ghaith Al Ghaith said the airline is in talks with Boeing and Airbus for a new aircraft order to fulfil its fleet requirements for operational growth.
The all-Boeing fleet operator is considering the Boeing 737 Max and Airbus A320 Neo models, Mr Al Ghaith said at the time. He did not disclose the size of the order, but said flydubai may sign an agreement by the end of this year.
In January, Montreal-based Air Canada's cargo division signed a preliminary agreement with Dubai's Emirates SkyCargo to work on initiatives that will expand their capacity on a larger combined network, building on a codeshare deal between the airlines sealed last year.
Under the terms of the pact, the companies are to expand freight interline options, offering their customers access to more capacity, Emirates said.
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
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