An Emirates Airline A380. Noah Seelam / AFP
An Emirates Airline A380. Noah Seelam / AFP

Emirates taking ‘bedroom concept’ on Airbus A380 and Boeing 777 fleet



Arabian Gulf carriers are competing fiercely over creating new concepts of luxury travel, which includes flying bedrooms similar to those found in a yacht or a hotel.

Only weeks after Etihad Airways announced its premium travel experience – which features private suites, apartments and business studios on its aircraft – Emirates Airline said it would match that by introducing a "bedroom concept".

“It’s all about privacy. That’s very much in our current first class private suites product, and our new bedroom concept will take it to the next level,” said Tim Clark, the president of Emirates.

“We’re talking fully enclosed rooms, with all the touches and amenities that you’d expect in hotel or a private bedroom on a luxury yacht, room service and so on. It will be on our A380s, and on our new 777s.”

Emirates said that it is in “advanced stages” of developing its bedroom concept. While it did not disclose the cost of a bedroom, it said that its current first class suite costs US$500,000 apiece, and with the 1,500 seats in its current fleet, that is a total investment of $750 million.

Emirates, the world's biggest customer of the Airbus A380 superjumbo, made headlines at the Dubai Airshow in November when it ordered $99 billion worth of aircraft – including 150 Boeing 777X and 50 A380s from Airbus.

The International Air Transport Association (Iata) said in a note yesterday that premium travel in the Middle East has outperformed other markets globally.

In March, global premium travel rose 1.9 per cent year-on-year, slower than the 4.1 per cent in February.

“Middle East premium travel performed solidly in March, particularly routes to Africa, from Europe, and to the Far East,” said Hussein Dabbas, Iata’s regional vice president for Africa-Middle East.

“The Gulf in particular is enjoying an acceleration in economic growth and tourism. It shows once again that this region is one of the strongest aviation markets in the world.”

Analysts said that a key to the success of Emirates new product will be the pricing. Etihad Residence Suite on the upper deck of its A380 costs $20,000 one way on its Abu Dhabi-London route.

“If its high like Etihad’s Residence Suite, then perhaps it may stifle demand leading to discounting. And with high prices, Emirates will not want to discount so early on with a new cabin product,” said Saj Ahmad, the chief analyst at StrategicAero Research.

Other analysts think that airlines need to revisit their business case of having premium travel products, which may not sell as well as business class seats.

“Premium travel is still in important segment in the Gulf market but more so business class than first class. First class is only supported on certain routes and many airlines globally have withdrawn it or offer it selectively,” said John Strickland, the director of London-based JLS Consulting.

“Airlines have to evaluate the cost of investment versus the likelihood of regularly selling the seats and the opportunity cost of having more seats in business class, which on many routes are more saleable.”

selgazzar@thenational.ae

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Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

MATCH INFO

First Test at Barbados
West Indies won by 381 runs

Second Test at Antigua
West Indies won by 10 wickets

Third Test at St Lucia
February 9-13

 

MATCH INFO

Uefa Champions League, last-16. first leg

Atletico Madrid v Juventus, midnight (Thursday), BeIN Sports

While you're here ...

Damien McElroy: What happens to Brexit?

Con Coughlin: Could the virus break the EU?

Andrea Matteo Fontana: Europe to emerge stronger

THE SPECS

2020 Toyota Corolla Hybrid LE

Engine: 1.8 litre combined with 16-volt electric motors

Transmission: Automatic with manual shifting mode

Power: 121hp

Torque: 142Nm

Price: Dh95,900

Brief scores:

Manchester City 3

Bernardo Silva 16', Sterling 57', Gundogan 79'

Bournemouth 1

Wilson 44'

Man of the match: Leroy Sane (Manchester City)

Central Bank's push for a robust financial infrastructure
  • CBDC real-value pilot held with three partner institutions
  • Preparing buy now, pay later regulations
  • Preparing for the 2023 launch of the domestic card initiative
  • Phase one of the Financial Infrastructure Transformation (FiT) completed
Tips for avoiding trouble online
  • Do not post incorrect information and beware of fake news
  • Do not publish or repost racist or hate speech, yours or anyone else’s
  • Do not incite violence and be careful how to phrase what you want to say
  • Do not defame anyone. Have a difference of opinion with someone? Don’t attack them on social media
  • Do not forget your children and monitor their online activities
Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

57 Seconds

Director: Rusty Cundieff
Stars: Josh Hutcherson, Morgan Freeman, Greg Germann, Lovie Simone
Rating: 2/5

DUBAI CARNIVAL RESULTS

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

Winner Dubai Future, Harry Bentley (jockey), Saeed bin Suroor (trainer).

7.05pm UAE 1000 Guineas Listed $250,000 (Dirt) 1,600m

Winner Dubai Love, Patrick Cosgrave, Saeed bin Suroor.

7.40pm Dubai Dash Listed $175,000 (T) 1,000m

Winner: Equilateral, James Doyle, Charles Hills.

8.15pm Al Bastakiya Trial Conditions $100,000 (D) 1.900m

Winner Laser Show, Kevin Stott, Saeed bin Suroor.

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

Winner Glorious Journey, James Doyle, Charlie Appleby.

9.25pm Handicap $135,000 (D) 2,000m

Winner George Villiers, Tadhg O’Shea, Satish Seemar.

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

UAE v Zimbabwe A, 50 over series

Fixtures
Thursday, Nov 9 - 9.30am, ICC Academy, Dubai
Saturday, Nov 11 – 9.30am, ICC Academy, Dubai
Monday, Nov 13 – 2pm, Dubai International Stadium
Thursday, Nov 16 – 2pm, ICC Academy, Dubai
Saturday, Nov 18 – 9.30am, ICC Academy, Dubai

Company profile

Company name: Tuhoon
Year started: June 2021
Co-founders: Fares Ghandour, Dr Naif Almutawa, Aymane Sennoussi
Based: Riyadh
Sector: health care
Size: 15 employees, $250,000 in revenue
Investment stage: seed
Investors: Wamda Capital, Nuwa Capital, angel investors

UAE currency: the story behind the money in your pockets
Pakistanis at the ILT20

The new UAE league has been boosted this season by the arrival of five Pakistanis, who were not released to play last year.

Shaheen Afridi (Desert Vipers)
Set for at least four matches, having arrived from New Zealand where he captained Pakistan in a series loss.

Shadab Khan (Desert Vipers)
The leg-spin bowling allrounder missed the tour of New Zealand after injuring an ankle when stepping on a ball.

Azam Khan (Desert Vipers)
Powerhouse wicketkeeper played three games for Pakistan on tour in New Zealand. He was the first Pakistani recruited to the ILT20.

Mohammed Amir (Desert Vipers)
Has made himself unavailable for national duty, meaning he will be available for the entire ILT20 campaign.

Imad Wasim (Abu Dhabi Knight Riders)
The left-handed allrounder, 35, retired from international cricket in November and was subsequently recruited by the Knight Riders.

Where can I submit a sample?

Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.

Collection centres in Abu Dhabi include:

  • Abu Dhabi National Exhibition Centre (ADNEC)
  • Biogenix Labs in Masdar City
  • Al Towayya in Al Ain
  • NMC Royal Hospital in Khalifa City
  • Bareen International Hospital
  • NMC Specialty Hospital, Al Ain
  • NMC Royal Medical Centre - Abu Dhabi
  • NMC Royal Women’s Hospital.
COMPANY PROFILE

Company name: OneOrder
Started: March 2022
Founders: Tamer Amer and Karim Maurice
Based: Cairo
Number of staff: 82
Investment stage: Series A

Stan Lee

Director: David Gelb

Rating: 3/5

WISH

Directors: Chris Buck, Fawn Veerasunthorn
Stars: Ariana DeBose, Chris Pine, Alan Tudyk
Rating: 3.5/5

Scores

Rajasthan Royals 160-8 (20 ov)

Kolkata Knight Riders 163-3 (18.5 ov)

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures