Ethiopian Airlines CEO Tewolde Gebremariam says the carrier will be the last airline to return Boeing's 737 Max to operating in its fleet. Christopher Pike / The National
Ethiopian Airlines CEO Tewolde Gebremariam says the carrier will be the last airline to return Boeing's 737 Max to operating in its fleet. Christopher Pike / The National
Ethiopian Airlines CEO Tewolde Gebremariam says the carrier will be the last airline to return Boeing's 737 Max to operating in its fleet. Christopher Pike / The National
Ethiopian Airlines CEO Tewolde Gebremariam says the carrier will be the last airline to return Boeing's 737 Max to operating in its fleet. Christopher Pike / The National

Ethiopian Air 'moving forward' with growth plans after Boeing 737 Max crash


Deena Kamel
  • English
  • Arabic

Ethiopian Airlines, Africa's champion carrier that suffered a fatal Boeing 737 Max crash in March, is ''moving forward" with its expansion following the disaster but will be the last operator to return the jet to service.

The Addis Abbaba-based airline is optimistic it can 'scale up' its ambitious growth plans as the carrier's business model remains strong and demand for air links between China and Africa continues to rise, Tewolde GebreMariam, chief executive of Ethiopian Airlines, told The National on Sunday, on the sidelines of a global airlines meeting in Seoul.

"We are already moving forward, business is good, the brand is strong and we’re still the leading connector of Africa to the world," he said. "The growth is going to continue and we're even scaling up. I'm very confident."

Ethiopian Airlines suffered the loss of one of its Max jets in a deadly crash in March, the second fatal incident involving the plane model after Indonesia's Lion Air jet plunged into the Java sea in October, leading to a global grounding of the aircraft. The dual disasters rocked the aviation industry, leading to multiple regulatory and criminal investigations and developing into one of the worst crises for Boeing in its 103-year history. Ethiopian Airlines is Africa's biggest aviation success story, in contrast to a regional industry suffering from financial losses and poor safety standards.

"The business model is still strong, it’s a very wise strategy and the growth in the continent still continues," Mr GebreMariam said. "Everything is still in order."

Ethiopian Airlines expects a 20 per cent increase in its annual passenger traffic in 2020 compared to an expected 14 per cent in 2019, he said.

The carrier plans to add more points in China and the US this year, including Shenzhen and Houston respectively, capitalising on Africa's massive demand for reliable air connections.

"We thank our customers and the traveling public for standing with us in our difficult time and we’re very grateful for the vote of confidence," Mr GebreMariam added.

However, the carrier will not return the Max to service unless all regulators approve the jet and all other operators have resumed service, he said.

"We need to do a lot in terms of evaluation and in terms of convincing our pilots and our passengers," Mr GebreMariam said. "It will take us a longer time as an airline than others."

Still, Ethiopian Airlines will still maintain its relationship with Boeing and continue to be a customer of the US plane maker.

"We want to see it as a safe aeroplane and we don’t want to see any problem anymore to anyone. That is our goal," the chief executive said.

The comments come amid a gathering of airline executives in Seoul for the International Air Transport
Association's 75th annual meeting, the largest aviation congregation since the second 737 Max crash.

The fate of the Max weighed heavily on discussions at the Iata meeting where airline executives called for global regulators to align on the actions needed to return the jet to the skies.

"The recent Boeing 737 Max accidents have put our reputation in the spotlight," Iata director general Alexandre de Juniac said during the opening speech of the Iata meeting. "Trust in the certification system has been damaged - among regulators, between regulators and the industry and with the flying public."

Schedule
%3Cp%3E%3Cstrong%3ENovember%2013-14%3A%3C%2Fstrong%3E%20Abu%20Dhabi%20World%20Youth%20Jiu-Jitsu%20Championship%3Cbr%3E%3Cstrong%3ENovember%2015-16%3A%20%3C%2Fstrong%3EAbu%20Dhabi%20World%20Masters%20Jiu-Jitsu%20Championship%3Cbr%3E%3Cstrong%3ENovember%2017-19%3A%3C%2Fstrong%3E%20Abu%20Dhabi%20World%20Professional%20Jiu-Jitsu%20Championship%20followed%20by%20the%20Abu%20Dhabi%20World%20Jiu-Jitsu%20Awards%3C%2Fp%3E%0A
SERIES INFO

Schedule:
All matches at the Harare Sports Club
1st ODI, Wed Apr 10
2nd ODI, Fri Apr 12
3rd ODI, Sun Apr 14
4th ODI, Sun Apr 16

UAE squad
Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed

Zimbabwe squad
Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura

MATCH INFO

 

Maratha Arabians 107-8 (10 ovs)

Lyth 21, Lynn 20, McClenaghan 20 no

Qalandars 60-4 (10 ovs)

Malan 32 no, McClenaghan 2-9

Maratha Arabians win by 47 runs

Usain Bolt's World Championships record

2007 Osaka

200m Silver

4x100m relay Silver

 

2009 Berlin

100m Gold

200m Gold

4x100m relay Gold

 

2011 Daegu

100m Disqualified in final for false start

200m Gold

4x100m relay Gold

 

2013 Moscow

100m Gold

200m Gold

4x100m relay Gold

 

2015 Beijing

100m Gold

200m Gold

4x100m relay Gold

 

Harry%20%26%20Meghan
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ELiz%20Garbus%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Duke%20and%20Duchess%20of%20Sussex%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Teams in the EHL

White Bears, Al Ain Theebs, Dubai Mighty Camels, Abu Dhabi Storms, Abu Dhabi Scorpions and Vipers

UAE currency: the story behind the money in your pockets
Opening weekend Premier League fixtures

Weekend of August 10-13

Arsenal v Manchester City

Bournemouth v Cardiff City

Fulham v Crystal Palace

Huddersfield Town v Chelsea

Liverpool v West Ham United

Manchester United v Leicester City

Newcastle United v Tottenham Hotspur

Southampton v Burnley

Watford v Brighton & Hove Albion

Wolverhampton Wanderers v Everton

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

Results
%3Cp%3EStage%204%3A%0D%3Cbr%3E1.%20Juan%20Sebastian%20Molano%20(COL)%20Team%20UAE%20Emirates%20%E2%80%93%203hrs%2050min%2001sec%0D%3Cbr%3E2.%20Olav%20Kooij%20(NED)%20Jumbo-Visma%20%E2%80%93%20ST%0D%3Cbr%3E3.%20Sam%20Welsford%20(AUS)%20Team%20DSM)%20%E2%80%93%20ST%0D%3Cbr%3EGeneral%20Classification%3A%0D%3Cbr%3E1.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%0D%3Cbr%3E2.%20Lucas%20Plapp%20(AUS)%20Ineos%20Grenaders%20%E2%80%93%207%E2%80%B3%0D%3Cbr%3E3.%20Pello%20Bilbao%20(ESP)%20Bahrain%20Victorious%20%E2%80%93%2011%E2%80%B3%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Alaan%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Parthi%20Duraisamy%20and%20Karun%20Kurien%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%247%20million%20raised%20in%20total%20%E2%80%94%20%242.5%20million%20in%20a%20seed%20round%20and%20%244.5%20million%20in%20a%20pre-series%20A%20round%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Iraq negotiating over Iran sanctions impact
  • US sanctions on Iran’s energy industry and exports took effect on Monday, November 5.
  • Washington issued formal waivers to eight buyers of Iranian oil, allowing them to continue limited imports. Iraq did not receive a waiver.
  • Iraq’s government is cooperating with the US to contain Iranian influence in the country, and increased Iraqi oil production is helping to make up for Iranian crude that sanctions are blocking from markets, US officials say.
  • Iraq, the second-biggest producer in the Organization of Petroleum Exporting Countries, pumped last month at a record 4.78 million barrels a day, former Oil Minister Jabbar Al-Luaibi said on Oct. 20. Iraq exported 3.83 million barrels a day last month, according to tanker tracking and data from port agents.
  • Iraq has been working to restore production at its northern Kirkuk oil field. Kirkuk could add 200,000 barrels a day of oil to Iraq’s total output, Hook said.
  • The country stopped trucking Kirkuk oil to Iran about three weeks ago, in line with U.S. sanctions, according to four people with knowledge of the matter who asked not to be identified because they aren’t allowed to speak to media.
  • Oil exports from Iran, OPEC’s third-largest supplier, have slumped since President Donald Trump announced in May that he’d reimpose sanctions. Iran shipped about 1.76 million barrels a day in October out of 3.42 million in total production, data compiled by Bloomberg show.
  • Benchmark Brent crude fell 47 cents to $72.70 a barrel in London trading at 7:26 a.m. local time. U.S. West Texas Intermediate was 25 cents lower at $62.85 a barrel in New York. WTI held near the lowest level in seven months as concerns of a tightening market eased after the U.S. granted its waivers to buyers of Iranian crude.
LIVERPOOL%20TOP%20SCORERS
%3Cp%3E(Premier%20League%20only)%3Cbr%3EMohamed%20Salah%20129%3Cbr%3ERobbie%20Fowler%20128%3Cbr%3ESteven%20Gerrard%20120%3Cbr%3EMichael%20Owen%20118%3Cbr%3ESadio%20Mane%2090%3Cbr%3E%3C%2Fp%3E%0A
A%20MAN%20FROM%20MOTIHARI
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3EAbdullah%20Khan%0D%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EPenguin%20Random%20House%3Cbr%3E%3Cstrong%3EPages%3A%20%3C%2Fstrong%3E304%0D%3Cbr%3E%3Cstrong%3EAvailable%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3C%2Fp%3E%0A
The biog

Name: Marie Byrne

Nationality: Irish

Favourite film: The Shawshank Redemption

Book: Seagull by Jonathan Livingston

Life lesson: A person is not old until regret takes the place of their dreams

Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5

Ticket prices
  • Golden circle - Dh995
  • Floor Standing - Dh495
  • Lower Bowl Platinum - Dh95
  • Lower Bowl premium - Dh795
  • Lower Bowl Plus - Dh695
  • Lower Bowl Standard- Dh595
  • Upper Bowl Premium - Dh395
  • Upper Bowl standard - Dh295
How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.5-litre%20twin-turbo%20V6%20%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E456hp%20at%205%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E691Nm%20at%203%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%20%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E14.6L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh349%2C545%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A