Last week Kuwait Airways signed an agreement with European planemaker Airbus for an order of 8 A330-800 Neos that it will take from 2019. AFP
Last week Kuwait Airways signed an agreement with European planemaker Airbus for an order of 8 A330-800 Neos that it will take from 2019. AFP

Kuwait Airways appoints new CEO amid attempts to revive growth



Kuwait Airways promoted its deputy chief executive Kamil Al Awadhi to lead the airline as it seeks to compete in the Arabian Gulf's crowded aviation market following years of restructure.

Mr Al Awadhi, a 19-year veteran at the state-owned airline, will assume his new role on November 1, Kuwait Airways said on its official Twitter account on Sunday. He takes over from acting chief executive Abdullah Al Sharhan, who stepped into the position in April.

Mr Al Awadhi began working at the airline in September 1999 as an engineer with a supervising position in the quality control department, rising up the ranks to become deputy chief executive in 2016, according to his LinkedIn profile.

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The executive faces a tall order as he takes the helm at the flag carrier, which has been trying for years to compete with regional aviation giants such as UAE's Emirates and Etihad Airways. Kuwait Airways wants to upgrade its fleet, attract high-end passengers, grow its share of regional traffic and return to profitability in a wide-ranging turnaround plan. Last month, it began operating out of its new terminal four at Kuwait International Airport, a hub dedicated to the airline with a capacity for 4.5 million passengers annually.

Kuwait Airways was once one of the premium carriers of the Arabian Gulf before the 1990 war wrecked most of its fleet.

Mr Al Awadhi faces the challenge of reviving the loss-making airline after years of restructure and attempts at privatising the company. It faced tough operating conditions, including a slump in oil prices that reduced spending power in the region.

As part of its revival plan, the carrier is focusing on lucrative routes and upgrading its fleet.

Last week, Kuwait Airways signed an agreement with European plane maker Airbus for an order of eight A330-800neo that will be delivered from 2019. Its fleet plan now includes five A350s, 10 Boeing 777s and 15 A320neo.

The company competes on short-haul flights with Kuwait's low-cost carriers Jazeera Airways and Wataniya Airways. Its longest route is to New York via Shannon, Ireland.

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6.30pm Handicap US$135,000 (Turf) 2,410m

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8.50pm Al Fahidi Fort Group Two $250,000 (T) 1,400m

9.25pm Handicap $135,000 (D) 2,000m

 

The National selections

6.30pm: Gifts Of Gold

7.05pm Final Song

7.40pm Equilateral

8.15pm Dark Of Night

8.50pm Mythical Magic

9.25pm Franz Kafka

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The biog

Alwyn Stephen says much of his success is a result of taking an educated chance on business decisions.

His advice to anyone starting out in business is to have no fear as life is about taking on challenges.

“If you have the ambition and dream of something, follow that dream, be positive, determined and set goals.

"Nothing and no-one can stop you from succeeding with the right work application, and a little bit of luck along the way.”

Mr Stephen sells his luxury fragrances at selected perfumeries around the UAE, including the House of Niche Boutique in Al Seef.

He relaxes by spending time with his family at home, and enjoying his wife’s India cooking. 

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The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

HIV on the rise in the region

A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.

New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.

Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.

Access to HIV testing, treatment and care in the region is well below the global average.  

Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

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