A Syrian Air plane lands at Aleppo International Airport after services resumed on March 18. EPA
A Syrian Air plane lands at Aleppo International Airport after services resumed on March 18. EPA
A Syrian Air plane lands at Aleppo International Airport after services resumed on March 18. EPA
A Syrian Air plane lands at Aleppo International Airport after services resumed on March 18. EPA

UAE to resume flights to Syria, regulator says


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The General Civil Aviation Authority has announced the resumption of flights between the UAE and Syria.

The GCAA said on Monday that the countries are co-ordinating to restart flights between them “in a manner that enhances air traffic and supports passenger and cargo movement”.

The decision came after Syrian President Ahmad Al Shara visited the UAE on Sunday for the first time since taking office.

He met President Sheikh Mohamed, who said the UAE would “spare no effort in providing all possible support to Syria” and help the country to rebuild.

Countries had suspended flights to and from Syria during the civil war, but some have resumed routes since the removal of Bashar Al Assad from the Syrian presidency in December. Turkish Airlines resumed flights to Damascus on January 23, while Qatar Airways restarted on January 7.

International flights resume from Damascus – in pictures

  • The first international commercial flight since the downfall of former president Bashar Al Assad arrives at Damascus airport. Reuters
    The first international commercial flight since the downfall of former president Bashar Al Assad arrives at Damascus airport. Reuters
  • Syrians wait to welcome their relatives at Damascus airport. AP
    Syrians wait to welcome their relatives at Damascus airport. AP
  • A Syrian passenger on the first international commercial flight to the capital since the fall of the Assad regime is welcomed with a coffee. AP
    A Syrian passenger on the first international commercial flight to the capital since the fall of the Assad regime is welcomed with a coffee. AP
  • Travellers arrive in Damascus. The Assad regime was toppled by rebel groups last month. AFP
    Travellers arrive in Damascus. The Assad regime was toppled by rebel groups last month. AFP
  • Airlines halted services to the Syrian capital last month after the downfall of the Assad regime. AFP
    Airlines halted services to the Syrian capital last month after the downfall of the Assad regime. AFP
  • Syrians gather inside Damascus airport to welcome their relatives. AP
    Syrians gather inside Damascus airport to welcome their relatives. AP
  • A traveller arrives at the airport. Some airlines in the regoin have not yet announced plans to resume flights to the Syrian capital. AFP
    A traveller arrives at the airport. Some airlines in the regoin have not yet announced plans to resume flights to the Syrian capital. AFP
  • A Syrian celebrates after arriving in Damascus. Travel experts have said security will keep key to convincing more airlines to resume flights to the city. AP
    A Syrian celebrates after arriving in Damascus. Travel experts have said security will keep key to convincing more airlines to resume flights to the city. AP
  • Syrians wait to welcome travellers to Damascus. Flights from Doha have resumed for the first time in 13 years, while a Syrian Air flight took off for Sharjah airport. AP
    Syrians wait to welcome travellers to Damascus. Flights from Doha have resumed for the first time in 13 years, while a Syrian Air flight took off for Sharjah airport. AP

In January, a Syrian Airlines flight to Sharjah was the first international commercial flight to depart from Damascus since the fall of the Assad regime.

“We welcome the latest announcement which reflects the United Arab Emirates’ commitment to fostering regional connectivity,” a flydubai spokesperson told The National.

“We continue to co-ordinate closely with the relevant authorities, and any announcements regarding the resumption of operations to Syria will be made once all the necessary preparations and approvals are in place.”

Wizz Air Abu Dhabi also said it was awaiting official guidance from the General Civil Aviation Authority.

"Wizz Air Abu Dhabi is continuously exploring exciting opportunities to expand its network and enhance regional connectivity. While this destination is under consideration, there are no updates to share just yet," the airline said on Tuesday.

In January, the airline's managing director Johan Eidhagen had told The National that the decision on whether to begin flights to Syria would depend on the Damascus airport's reliability, safety and security.

Mr Eidhagen at the time said he believed Wizz Air would fly into Syria “at some point” if the country continued its improvements.

Syria remains under western sanctions that have made economic recovery difficult. Mr Al Shara and Syria's Foreign Minister Asaad Al Shibani have been campaigning to have them lifted. The US said it approved of Mr Al Shara's government reshuffle last month but was not ready to lift sanctions. The EU has lifted some restrictions, allowing local banks to move money.

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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.”

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Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

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Rating: 3/5

Updated: April 15, 2025, 10:37 AM