RwandAir, the flag carrier of Rwanda, is on track to double its fleet to 25 planes over the next five years to better connect underserved markets in Africa and boost the continent’s reach to global destinations, including in the Middle East, its chief executive said.
The state-owned airline has started expanding its fleet of 13 aircraft, taking delivery this year of three additional leased Boeing 737 narrow-bodies, Yvonne Makolo told The National on the sidelines of the World Travel and Tourism Council's global summit.
The annual industry event was held this year for the first time in Africa, in the Rwandan capital Kigali, from November 1 to November 3.
“I don't think we need to move any farther than the African continent, this is the most underserved continent in aviation: We have 1.4 billion people and we only account for 3 per cent of global air traffic, which is ridiculous,” said Ms Makolo, who is the chair and first female leader of the board of the International Air Transport Association (Iata).
“The potential is within the continent and RwandAir is very focused on that, on seeing how we can open up and connect different African countries with fifth freedom rights, and how we can connect Rwanda to African countries, then connect the continent to the rest of the world.”
The airline currently serves 25 destinations, 20 of which are within the African continent to countries such as Ghana, Kenya, Nigeria and South Africa. It also flies to cities in Europe and the Middle East including Paris, London, Brussels, Dubai and Doha.
It plans to grow its route network to 39 destinations in five years, mainly within the African continent.
RwandAir's fleet currently consists of Airbus A330 wide-bodies, Boeing 737s, Bombardier CRJ-900s and two De Havilland Canada Dash 8-Q400s.
Affordable air travel is still a “big challenge” in the African continent because aviation is still seen as a luxury, Ms Makolo said.
“It's heavily taxed, which is unnecessary, so that's something that also needs to be addressed and we need to see more collaboration and partnerships within African airlines as well,” she added.
RwandAir aims to position Kigali as a regional hub as an alternative to other hubs in Africa, she said.
Asked about competition with Africa's biggest airline, Ethiopian Airlines, she said: “It's a big competitor but we also work closely together, we have codeshare agreements and we access quite a number of points through their network … they do our heavy maintenance checks [on aircraft].”
“There's enough market for both of us and all of us because Africa is vastly underserved.”
Middle East growth plans
Ms Makolo confirmed that Qatar Airways’ planned investment in RwandAir is almost complete. The Doha-based airline plans to buy a 49 per cent stake in the East African airline and a 60 per cent share in the new Bugesera International Airport in Rwanda.
The $1.3 billion airport, currently under construction, will have the capacity to handle seven million passengers annually and 150 million tonnes of cargo a year during the first phase of its operation, according to the Rwanda Development Board.
“We're finalising that, they will be taking on 49 per cent of RwandAir and 60 per cent of the airport,” Ms Makolo said.
The airport is expected to be ready within three to four years, according to the airline chief executive.
Asked about RwandAir's growth plans for the Middle East with the imminent deal, she said the airline will focus on adding more flight frequencies to existing cities like Doha and Dubai and exploring new routes in the region.
RwandAir's load factor – a measure of how well airlines fill available seats – for Dubai and Doha is at least 70 per cent.
“We will be focused on adding more frequencies, we'd like to see Dubai and Doha go to double daily,” she said.
Dubai is a “key” cargo destination for RwandAir, where it carries fresh produce, particularly avocados, to the emirate.
RwandAir's extended codeshare with Qatar Airways allows its passengers access to 65 destinations via Doha.
“We are looking at additional points in the Middle East,” she said, declining to elaborate.
Ms Makolo joined many industry experts at the WTTC gathering in urging faster progress on open skies in Africa, echoing Europe's single aviation market, which has been under discussion for years.
Launching a single aviation market in Africa would boost connectivity, reduce fares and stimulate economic growth on a continent widely considered expensive and inconvenient to fly around.
“We just need to get on with it,” Ms Makolo said. “Let's start with whoever is ready, let it be among the coalition of the willing and start, then hopefully when others see that it is working, they will join in.”
The RwandAir boss also joined the aviation industry's growing calls for governments to incentivise the production of sustainable aviation fuel (SAF) at a larger scale.
SAF will be the major contributor to the industry’s goal of net-zero by 2050 and Iata estimates that SAF will account for about 62 per cent of the industry's decarbonisation requirements.
Besides being in short supply, the fuel is also two to three times more expensive than jet kerosene, according to Iata.
“A lot more incentives need to be put into place for manufacturers to start producing enough SAF and then we can deal with the issue of affordability,” Ms Makolo said.
“For us African airlines, already operating is very expensive and now we need expensive fuel so that doesn't make sense – we would go bankrupt.”
Company%20profile
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Ant-Man%20and%20the%20Wasp%3A%20Quantumania
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The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
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Price: From Dh215,900
On sale: Now
Day 2, Dubai Test: At a glance
Moment of the day Pakistan’s effort in the field had hints of shambles about it. The wheels were officially off when Wahab Riaz lost his run up and aborted the delivery four times in a row. He re-measured his run, jogged in for two practice goes. Then, when he was finally ready to go, he bailed out again. It was a total cringefest.
Stat of the day – 139.5 Yasir Shah has bowled 139.5 overs in three innings so far in this Test series. Judged by his returns, the workload has not withered him. He has 14 wickets so far, and became history’s first spinner to take five-wickets in an innings in five consecutive Tests. Not bad for someone whose fitness was in question before the series.
The verdict Stranger things have happened, but it is going to take something extraordinary for Pakistan to keep their undefeated record in Test series in the UAE in tact from this position. At least Shan Masood and Sami Aslam have made a positive start to the salvage effort.
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
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Top 5 concerns globally:
1. Unemployment
2. Spread of infectious diseases
3. Fiscal crises
4. Cyber attacks
5. Profound social instability
Top 5 concerns in the Mena region
1. Energy price shock
2. Fiscal crises
3. Spread of infectious diseases
4. Unmanageable inflation
5. Cyber attacks
Source: World Economic Foundation
Vaccine Progress in the Middle East
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
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The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
The Outsider
Stephen King, Penguin
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
UAE tour of the Netherlands
UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match
Company%20profile
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Company profile
Company: Eighty6
Date started: October 2021
Founders: Abdul Kader Saadi and Anwar Nusseibeh
Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5
Fanney Khan
Producer: T-Series, Anil Kapoor Productions, ROMP, Prerna Arora
Director: Atul Manjrekar
Cast: Anil Kapoor, Aishwarya Rai, Rajkummar Rao, Pihu Sand
Rating: 2/5