Emirates Airways said it will showcase its largest static aircraft display to date at this week's Dubai Airshow.
The carrier said its “full family of aircraft” will be available to view for visitors to the five-day event, which kicks off on Sunday, with highlights including the airline’s new Boeing 777-300ER first class suite, which has undergone a complete redesign.
Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive, Emirates Airline & Group, said: “The Dubai Airshow is a key event in the aviation industry calendar and it is fitting that the full family of Emirates aircraft will be on display this year to highlight the breadth of onboard product enhancements and innovations across our fleet."
The display will include the airline’s 100th A380, received by the carrier last week - a milestone marked by a special ceremony at the plane manufacturer's delivery centre in Hamburg, Germany, attended by Sheikh Ahmed. The Dubai carrier has the most A380 aircraft in the world with another 42 on order.
Also on show at Sunday' expo will be the airline's latest Boeing 777-300ER with its new cabin interiors, including the first-class suite and reworked economy and business cabins, as well as its B777-300ER and A380 aircraft, both emblazoned with the “Year of Zayed” livery in tribute to the UAE’s late founding father.
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Read more:
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Emirates eyeing more A380 aircraft to boost its fleet
Emirates receives 100th Airbus A380 in Hamburg with Sheikh Zayed livery
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Other planes to feature will include the Emirates Executive A319 aircraft, the Cirrus SR22 and the Embraer Phenom 100 jets, set for use by the Emirates Flight Training Academy.
Visitors to the first day of the event on Sunday will see an Emirates fly past featuring the Boeing 777-300ER, an Airbus A380 alongside the UAE’s air-display team, Al Fursan. Both Emirates aircraft will fly at different altitudes followed by the Al Fursan jets in a symmetric formation.
The Emirates Flight Training Academy, a new facility to train pilots, will be officially inaugurated on the second day of the air expo. Located near Dubai World Central in Dubai South, the multimillion dollar academy is being launched by Emirates in response to the global aviation industry’s call for skilled commercial pilots. Earlier this week, the academy received its first entry-level jet in Dubai, the Embraer Phenom 100EV aircraft, registered A6-DWC - one of five that will make up its training fleet.
Sheikh Ahmed said: "We are particularly pleased to showcase our state-of-the-art training aircraft for the Emirates Flight Training Academy. These investments will help set new benchmarks in pilot training, and reinforce Dubai’s position as a global aviation hub.”
Meanwhile, airshow visitors to the indoor Emirates exhibition will have access to divisions such as Emirates Engineering, Emirates SkyCargo, Emirates Aviation University and Emirates Official Store, which will be selling limited editor aircraft models.
MATCH INFO
Uefa Champions League last-16, second leg:
Real Madrid 1 (Asensio 70'), Ajax 4 (Ziyech 7', Neres 18', Tadic 62', Schone 72')
Ajax win 5-3 on aggregate
How to register as a donor
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
The BaaS ecosystem
The BaaS value chain consists of four key players:
Consumers: End-users of the financial product delivered
Distributors: Also known as embedders, these are the firms that embed baking services directly into their existing customer journeys
Enablers: Usually Big Tech or FinTech companies that help embed financial services into third-party platforms
Providers: Financial institutions holding a banking licence and offering regulated products
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.
