British Airways is teaming up with start-up ZeroAvia to explore the possibilities of using hydrogen to power commercial jets as it works to meet its parent company's target to be carbon neutral by 2050.
The partnership will see the legacy carrier collaborate with the hydrogen aircraft start-up to explore more sustainable options to fuel British Airways' future fleet, it said in a statement on Saturday.
"In the medium to longer term we’re investing in the development of sustainable aviation fuel and looking at how we can help accelerate the growth of new technologies such as zero emissions hydrogen-powered aircraft," Sean Doyle, chief executive of British Airways, said.
The aviation industry is under high pressure from climate change activists to be more environment friendly but the global airlines' main lobby group says aviation only represents 2 per cent of global CO2 emissions. The International Air Transport Association pledged to cut net emissions by 2050 and achieve carbon-neutral growth from 2020.
The project is part of British Airways parent IAG’s Hangar 51 technology accelerator programme, which gives start-ups from around the world the opportunity to test their products on a global scale.
ZeroAvia, which is based in London and California, has already completed a hydrogen fuel cell-powered flight by a six-seater plane in September. The company is aiming to demonstrate its technology at longer ranges and larger aircraft next year.
By 2023, it aims to fly more than 1,000-miles in aircraft with more than 100 seats.
"We have found that in addition to improving the sustainability of flight, which is vital, hydrogen-electric technology has the potential to lower operating costs and improve the in-flight passenger experience," Sergey Kiselev, ZeroAvia’s ZeroAvia's head of Europe, said.
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The HY4 fuel cell zero-emission aircraft stands on its parking position at the airport in Stuttgart, southern Germany. Christoph Schmidt / EPA -

HY4 flies in clear skies during its world premiere above the airport. Christoph Schmidt / EPA -

The cockpit of the HY4. Christoph Schmidt / EPA -

The HY4 is the world’s first aircraft powered solely by a hydrogen fuel cell system. It has the capacity to carry four passengers. Christoph Schmidt / EPA -

The HY4 is the world’s first aircraft powered solely by a hydrogen fuel cell system. It has the capacity to carry four passengers. Christoph Schmidt / AFP -

The 'blended wing' concept would see the wings merged with the plane's main body and its wide fuselage could be customised either for storing hydrogen or for different cabin layouts. Like the turbofan design, it would be capable of travelling more than 1,000 nautical miles. Airbus -

The turbofan design would be powered by a modified gas engine running on hydrogen. It would be capable of travelling transcontinentally, covering distances of more than 2,000 nautical miles and carrying between 120-200 passengers. Courtesy of Airbus -

The turboprop design would be capable of carrying up to 100 passengers and travelling about 1,000 nautical miles. AFP / Airbus -

The HY4 is the world’s first aircraft powered solely by a hydrogen fuel cell system. It has the capacity to carry four passengers. Christoph Schmidt / AFP -

World’s first hydrogen powered commercial flight takes off. Courtesy ZeroAvia -

British Airways has teamed up with ZeroAvia, a leading innovator in decarbonising commercial aviation, in a project to explore how hydrogen-powered aircraft can play a leading role in the future of sustainable flying. The collaboration, which reflects the importance of sustainability at British Airways, will see ZeroAvia embedded in the heart of the airline. The team will work remotely alongside mentors and experts to explore the transformational possibilities of moving from fossil fuels to zero-emission hydrogen to power the airline’s future fleet. -

British Airways has teamed up with ZeroAvia, a leading innovator in decarbonising commercial aviation, in a project to explore how hydrogen-powered aircraft can play a leading role in the future of sustainable flying. The collaboration, which reflects the importance of sustainability at British Airways, will see ZeroAvia embedded in the heart of the airline. The team will work remotely alongside mentors and experts to explore the transformational possibilities of moving from fossil fuels to zero-emission hydrogen to power the airline’s future fleet. -

British Airways has teamed up with ZeroAvia in a project to explore how hydrogen-powered aircraft can play a leading role in the future of sustainable flying. Courtesy: BA. -

World’s first hydrogen powered commercial flight takes off. Courtesy ZeroAvia
At the end of the programme, research and learnings from the project will be shared and the ZeroAvia and Hangar 51 teams will consider how the partnership will progress over the long term, according to the statement.
Hydrogen is rapidly emerging as a potential solution to tackle aviation's carbon emissions.
Toulouse-based aircraft-manufacturing giant Airbus earlier revealed plans to build a hydrogen-powered aircraft as it seeks to bring the world's first emissions-free passenger plane into service by 2035.
However, challenges to such projects include infrastructure at airports, increased funding for research and development, and incentives for airlines to retire older, less environmentally-friendly aircraft earlier than scheduled.
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ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
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.”
The specs: 2018 Mercedes-Benz E 300 Cabriolet
Price, base / as tested: Dh275,250 / Dh328,465
Engine: 2.0-litre four-cylinder
Power: 245hp @ 5,500rpm
Torque: 370Nm @ 1,300rpm
Transmission: Nine-speed automatic
Fuel consumption, combined: 7.0L / 100km
So what is Spicy Chickenjoy?
Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
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Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
Diriyah%20project%20at%20a%20glance
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Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
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Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
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