Employees work on the final assembly line of a Boeing 777 airplane for Emirates Airlines at the Boeing factory in Everett, Washington. Patrick Fallon / Bloomberg
Employees work on the final assembly line of a Boeing 777 airplane for Emirates Airlines at the Boeing factory in Everett, Washington. Patrick Fallon / Bloomberg

Emirates to help design next-generation Boeing 777 aircraft



Seattle // Boeing has engaged Emirates Airline in plans to design its next-generation 777 aircraft amid expectations the carrier will be next in line to buy the wide-body jet.

Last Thursday, Lufthansa became the first airline to place an order for the long-range plane, announcing it would buy 34 777-9X.

Marty Bentrott, Boeing’s vice president of sales in the Middle East, Russia and Central Asia, refused to say whether Emirates would be next to place orders. But he said he was hopeful that Middle East carriers would be among the first customers.

“I have every confidence they [Middle East carriers] will be part of the launch of this aircraft,” Mr Bentrott said.

Tim Clark, the president of Emirates, which operates 130 777s, has said the airline plans to begin retiring the fleet by 2017.

He was quoted as telling the press in May that Emirates was planning a major order for 777X planes.

“We have been actively engaged with Emirates in the next generation 777. As the largest 777 customer in the world, they deserve our focus and our attention,” said Mr Bentrott.

“This aircraft needs to be effective for Emirates and its business plan because they have the 777 replacement cycle starting towards the end of this decade, and they expect us to be able to provide an aircraft much more efficient than today’s 777.”

Although Boeing has yet to formally launch the 777X, Boeing has already been marketing the 777X as it seeks to defend its lead over Airbus in the sales of wide-aisle aircraft.

The 777X, which competes against Airbus’s A350, burns 20 per cent less fuel and offers a 15 per cent operating improvement over the existing 777-300ER plane.

Lufthansa’s order, its largest ever, also includes 25 A350-900s.

The German airline is seeking to cut fuel usage while catching up with Middle East carriers on long-haul routes from Europe to Asia.

Separately, Boeing is gearing up for a busy Dubai Air Show that runs from November 17 to 21. At the last event two years ago, Emirates dominated the air show by making a US$18 billion order for 50 777s.

Boeing’s Mr Bentrott refused to be drawn on the potential orders likely to emerge during this year’s event.

“We are not [sure] exactly who is doing what yet,” he said. “But what I can say is [that] there are wonderful opportunities with Emirates, Etihad and Qatar.”

The 777 is among Boeing’s most successful aircraft, with 271 currently on order by Middle Eastern carriers, more than other models.

Boeing says the 777X, which features an improved interior inspired by the 787 and a composite wing, will also offer the widest cabin in its class, providing 11 per cent more space than Airbus’s A350.

The region’s carriers have ordered 126 787s, 181 737s and 71 747s.

Boeing expects the Middle East would require 2,610 new airplanes worth an estimated $550bn between this year and 2032

tarnold@thenational.ae

The Afghan connection

The influx of talented young Afghan players to UAE cricket could have a big impact on the fortunes of both countries. Here are three Emirates-based players to watch out for.

Hassan Khan Eisakhil
Mohammed Nabi is still proving his worth at the top level but there is another reason he is raging against the idea of retirement. If the allrounder hangs on a little bit longer, he might be able to play in the same team as his son, Hassan Khan. The family live in Ajman and train in Sharjah.

Masood Gurbaz
The opening batter, who trains at Sharjah Cricket Academy, is another player who is a part of a famous family. His brother, Rahmanullah, was an IPL winner with Kolkata Knight Riders, and opens the batting with distinction for Afghanistan.

Omid Rahman
The fast bowler became a pioneer earlier this year when he became the first Afghan to represent the UAE. He showed great promise in doing so, too, playing a key role in the senior team’s qualification for the Asia Cup in Muscat recently.

Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

The specs

Engine: 4-cylinder 2.0L TSI
Transmission: Dual clutch 7-speed
Power: 320HP / 235kW
Torque: 400Nm
Price: from $49,709
On sale: now

From Europe to the Middle East, economic success brings wealth - and lifestyle diseases

A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.

One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.

In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.

The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.

And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.

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.
 

A QUIET PLACE

Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou

Director: Michael Sarnoski

Rating: 4/5


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