The president of Boeing believes Turkish Airlines will emerge as a rival to Emirates Airline.
Competition between the pair is likely to heat up further when Istanbul’s new Dh40.45 billion international hub opens next year.
"Turkey is a significant opportunity," Bertrand-Marc Allen, the president of Boeing International, said at the Global Aerospace Summit in Abu Dhabi yesterday.
“It has got the capability, the geographic positioning, the population, the culture to be a success and a source of a lot of growth over the next 20 years. It will introduce an interesting dynamic and another competitor in this hub strategy for aviation.”
The rapid growth of Turkish Airlines represents a challenge to the region's big three of Emirates, Etihad Airways and Qatar Airways, which are competing to establish international hubs in Dubai, Abu Dhabi and Doha.
Turkish plans to invest $3.74bn this year on previously ordered planes to grow its fleet to 261 aircraft.
The carrier’s ambition is also reflected in the growth of its Istanbul base, which is mimicking the expansion of Dubai International Airport as an international hub.
Istanbul Ataturk Airport attracted almost 61.3 million passengers last year, while Dubai drew 78 million. Dubai expects to handle 85 million passengers this year.
With about US$35bn of investments, Istanbul's new airport will have six runways, 500 aircraft parking spots and the capacity to accommodate 150 million passengers.
“I think that Turkey is starting to rival the UAE airline and Turkey is doing very well,” said Mr Allen. “We are keen to watch this develop.”
Other regional hubs are also investing billions of dollars in airport expansion projects.
Qatar opened Hamad International Airport in 2014, while Abu Dhabi International said it would open its Midfield Terminal, a huge facility designed to handle 30 million passengers a year, in 2017.
Emirates this week said it was boosting capacity on its daily service to Istanbul’s Sabiha Gokcen Airport, while Turkish Airlines announced plans to add two more European routes to Dubrovnik in Croatia and Kosice in Slovakia.
selgazzar@thenational.ae
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Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
The design
The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.
More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.
The architecture will control light sources to provide a highly insulated and airtight building.
The forecourt is protected from the sun and the plants will refresh the inner spaces.
A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.
Energy-saving equipment will be used for all lighting and projections.
Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.
Some elements of the metal frame can be prefabricated in a factory.
From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.
Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019.
Construction of the pavilion will take 17 months from May 2019 to September 2020.
On Women's Day
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
The National Editorial: Is there much to celebrate on International Women's Day 2021?
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
Whiile you're here
Damien McElroy: Anti-science attitudes in America are proving lethal
Editorial: What makes the UAE such a good place to test vaccines?
Editorial: The fight against Covid-19 should be guided by science
Abu Dhabi traffic facts
Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road
The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.
Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.
The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.
The highest levels of traffic were found on Sunday, November 10.
Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019
In numbers
1,000 tonnes of waste collected daily:
- 800 tonnes converted into alternative fuel
- 150 tonnes to landfill
- 50 tonnes sold as scrap metal
800 tonnes of RDF replaces 500 tonnes of coal
Two conveyor lines treat more than 350,000 tonnes of waste per year
25 staff on site
COMPANY%20PROFILE
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
COMPANY%20PROFILE
While you're here
Con Coughlin: Nato must renew its sense of common purpose
Sholto Byrnes: In today's times, what is Nato really good for?
C Uday Bhaskar: Could the 'Quad' become Asia's new Nato?
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
Combating coronavirus
Nick March: coronavirus dark cloud could have a silver lining
Gavin Esler: coronavirus offers a stinging rebuke to protectionists
Rashmee Roshan Lall: we will learn how to be vulnerable together
• Remittance charges will be tackled by blockchain
• UAE's monumental and risky Mars Mission to inspire future generations, says minister
• Could the UAE drive India's economy?
• News has a bright future and the UAE is at the heart of it
• Architecture is over - here's cybertecture
• The National announces Future of News journalism competition
• Round up: Experts share their visions of the world to come
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
Company%C2%A0profile
Final round
25 under - Antoine Rozner (FRA)
23 - Francesco Laporta (ITA), Mike Lorenzo-Vera (FRA), Andy Sullivan (ENG), Matt Wallace (ENG)
21 - Grant Forrest (SCO)
20 - Ross Fisher (ENG)
19 - Steven Brown (ENG), Joakim Lagergren (SWE), Niklas Lemke (SWE), Marc Warren (SCO), Bernd Wiesberger (AUT)
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UAE SQUAD
UAE team
1. Chris Jones-Griffiths 2. Gio Fourie 3. Craig Nutt 4. Daniel Perry 5. Isaac Porter 6. Matt Mills 7. Hamish Anderson 8. Jaen Botes 9. Barry Dwyer 10. Luke Stevenson (captain) 11. Sean Carey 12. Andrew Powell 13. Saki Naisau 14. Thinus Steyn 15. Matt Richards
Replacements
16. Lukas Waddington 17. Murray Reason 18. Ahmed Moosa 19. Stephen Ferguson 20. Sean Stevens 21. Ed Armitage 22. Kini Natuna 23. Majid Al Balooshi
SPEC%20SHEET%3A%20APPLE%20IPAD%20(2022)
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
The finalists
Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho
Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson
Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)
Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)
Club of the Year: Bayern Munich, Liverpool, Real Madrid
Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)
Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola
