A possible European Union investigation into Etihad Airways’ growing investments in the region’s airlines and the question of how to produce the next generation of aerospace workers are the backdrop to an international gathering of industry executives in the capital this week.
The astronaut Buzz Aldrin, the chief executives of Lockheed Martin and the European carriers KLM and Turkish Airlines will line up next to Etihad's chief executive and the head of Mubadala's aerospace division at the Abu Dhabi Global Aerospace Summit today to address challenges that face the industry.
The summit, which takes place every two years, will address topics such as increasing profit margins, encouraging investment, implementing effective regulations, and finding a qualified workforce.
A spokesman for Siim Kallas, the EU commissioner for transport policy, said on Friday that the commission was looking at a number of non-EU investments in European airlines, including Etihad’s stake in Air Berlin. The commission is also watching Etihad’s continuing talks over a possible investment in Alitalia.
More than 1,000 senior executives are expected to be at the summit in the capital.
“The summit is a think tank platform for the industry,” said Homaid Al Shemmari, the chief executive of aerospace and engineering services at Mubadala, the Abu Dhabi government
investment and development company. “It made sense for us to invite all of these key players here and talk about concerns of this industry, its growth and its challenges.
“There’s a paramount shift in this industry from the old West to the emerging East. We are here in the Middle East at the heart of this convergent and change of power.”
Expansion of Arabian Gulf carriers such as Etihad, Emirates Airline and Qatar Airways is gradually shifting the future of air travel to the region. The strategic location of Dubai and Abu Dhabi is another great advantage, where almost 80 per cent of the world's population lies within eight to 10 hours' flying time.
Known as “the big three” – the Gulf airlines made multibillion dollar purchases of aircraft and engines at Dubai’s Airshow in November.
But unlike the Dubai Airshow, the Global Aerospace summit will not produce commercial deals.
“This is not an air show. This is not a platform for people to come and sell their products or market their products or talk about major or mega deals,” said Mr Al Shemmari.
Since 2007, the UAE has realised the importance of developing its aerospace industry. Investing in aerospace also fits into Abu Dhabi’s 2030 vision to diversify its economy into other sectors and reduce the reliance on oil and create skilled jobs for UAE nationals.
“Mubadala still believes aerospace, defence services and communications are three of the strongest sectors we have. We are very bullish about them,” said Mr Al Shemmari.
“We still look very favourably at international investments and to also increase our investments.”
Strata Manufacturing, Mubadala’s advanced composite aerostructures manufacturing plant in Al Ain, in November won deals from Airbus and Boeing worth US$5 billion to manufacture airplane parts.
James Hogan, the president and CEO of Etihad Airways said: “The Global Aerospace Summit is a great opportunity to share ideas, experience and thinking with leaders from across the industry,”
“Ten years ago, it [Abu Dhabi] was only just launching its national airline. Today, the emirate has become a vibrant centre for many strands of the aviation and aerospace sectors.”
selgazzar@thenational.ae
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Fight card
- Aliu Bamidele Lasisi (Nigeria) beat Artid Vamrungauea (Thailand) POINTS
- Julaidah Abdulfatah (Saudi Arabia) beat Martin Kabrhel (Czech Rep) POINTS
- Kem Ljungquist (Denmark) beat Mourad Omar (Egypt) TKO
- Michael Lawal (UK) beat Tamas Kozma (Hungary) KO
- Zuhayr Al Qahtani (Saudi Arabia) beat Mohammed Mahmoud (UK) POINTS
- Darren Surtees (UK) beat Kane Baker (UK) KO
- Chris Eubank Jr (UK) beat JJ McDonagh (Ireland) TKO
- Callum Smith (UK) beat George Groves (UK) KO
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
Company Profile
Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8
The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
SPEC SHEET: APPLE IPAD PRO (12.9", 2022)
Display: 12.9-inch Liquid Retina XDR, 2,732 x 2,048, 264ppi, wide colour, True Tone, ProMotion, 1,600 nits max, Apple Pencil hover
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Memory: Storage – 128GB/256GB/512GB / 1TB/2TB; RAM – 8GB/16GB
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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.
Ovo's tips to find extra heat
- Open your curtains when it’s sunny
- Keep your oven open after cooking
- Have a cuddle with pets and loved ones to help stay cosy
- Eat ginger but avoid chilli as it makes you sweat
- Put on extra layers
- Do a few star jumps
- Avoid alcohol
Killing of Qassem Suleimani
Spare
Profile
Company name: Spare
Started: March 2018
Co-founders: Dalal Alrayes and Saurabh Shah
Based: UAE
Sector: FinTech
Investment: Own savings. Going for first round of fund-raising in March 2019
Company Profile
Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed
COMPANY PROFILE
Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside
Need to know
The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours.
The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.
When to go: You can climb Kili at any time of year, but the best months to ascend are January-February and September-October. Also good are July and August, if you’re tolerant of the colder weather that winter brings.
Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.
THE HOLDOVERS
Director: Alexander Payne
Starring: Paul Giamatti, Da'Vine Joy Randolph, Dominic Sessa
Rating: 4.5/5
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government