Royal Jet's existing fleet would be replaced by newer models. Above, aboard a Royal Jet Boeing 737. Philip Cheung / The National
Royal Jet's existing fleet would be replaced by newer models. Above, aboard a Royal Jet Boeing 737. Philip Cheung / The National
Royal Jet's existing fleet would be replaced by newer models. Above, aboard a Royal Jet Boeing 737. Philip Cheung / The National
Royal Jet's existing fleet would be replaced by newer models. Above, aboard a Royal Jet Boeing 737. Philip Cheung / The National

Medevac boost for Royal Jet


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  • Arabic

Royal Jet, the Abu Dhabi-based executive jet company, marked its 10th anniversary yesterday by unveiling a new corporate identity, and announcing plans to change its fleet and operating base.

Presenting the company's 2012 annual review, the president and chief executive Shane O'Hare said Royal Jet had delivered 6 per cent earnings growth over the year and achieved a 263 per cent increase in monthly cash balance compared with 2011.

He declined, however, to give other details of the company's financial performance. Overall however, 2012 had been a year of growth, said Mr O'Hare. "In 2012 alone, our FBO [fixed base operation] handled 1,591 aircraft while our cockpit and cabin crew worked a combined 13,910 days last year," he said.

"We flew an average 1,186 hours for our BBJ [Boeing Business Jet] fleet and had an overall 91 per cent on-time performance.

"We flew 333 patients last year as part of our medevac missions [medical patient transportation] and are increasingly being referred to as the medevac operator of choice for emergencies in the region.

"We topped 2012 by flying to 313 airports through 2,818 flights across 148 countries." In the next seven years Royal Jet's existing fleet of six Boeing Business Jets, two Gulfstream G300 and one Bombardier Learjet 60 are set to be replaced by newer models, added Mr O'Hare. And next year the company would move its operations into Al Bateen Executive Airport, Abu Dhabi's dedicated private jet airport.

All line maintenance, aircraft parking, VIP terminal facilities and office space would transfer from Abu Dhabi International Airport.

"While we will continue to maintain our fixed base operation there, Al Bateen will become our principal operating base and integrated operations centre for our existing aircraft and for any new additions to the fleet," explained Mr O'Hare.

"Luxury is in our DNA. To protect our dominance of the VIP charter sector and secure future growth, we will need to renew our fleet and acquire new aircraft to help extend our market leadership.

"Our new mission is to constantly set new benchmarks for the business aviation industry and the luxury segment. The new corporate identity reflects their vision to be the leader in shaping the future of business aviation and global luxury travel."

Royal Jet is jointly owned by the Presidential Flight Authority and Abu Dhabi Aviation, and is chaired by Sheikh Hamdan bin Mubarak Al Nahyan.

It has been in its 10 years of operations a pioneer in Middle East business aviation and was a founding member of the Middle East Business Aviation Association.

Since it was founded in May 2003 the company's pattern of business has changed from 80 per cent government and presidential flight operations to just 25 per cent government flights, while corporate and business customers now make up 55 per cent of its business.

Over the same period, medevac flights have grown from 11 per cent to 20 per cent of operations.

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 name: Play:Date

Launched: March 2017 on UAE Mother’s Day

Founder: Shamim Kassibawi

Based: Dubai with operations in the UAE and US

Sector: Tech 

Size: 20 employees

Stage of funding: Seed

Investors: Three founders (two silent co-founders) and one venture capital fund

RESULT

Uruguay 3 Russia 0
Uruguay:
 Suárez (10'), Cheryshev (23' og), Cavani (90')
Russia: Smolnikov (Red card: 36')

Man of the match: Diego Godin (Uruguay)

Florence and the Machine – High as Hope
Three stars

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Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

MATCH INFO

Uefa Champions League last 16, second leg
Liverpool (0) v Atletico Madrid (1)
Venue: Anfield
Kick-off: Thursday, March 12, midnight
Live: On beIN Sports HD

Sinopharm vaccine explained

The Sinopharm vaccine was created using techniques that have been around for decades. 

“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.

"What is left is a skeleton of the virus so it looks like a virus, but it is not live."

This is then injected into the body.

"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.

"You have to be exposed more than one time to what we call the antigen."

The vaccine should offer protection for at least months, but no one knows how long beyond that.

Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.

“Since it is inactivated, it will not last forever," she said.

MATCH INFO

Fixture: Thailand v UAE, Tuesday, 4pm (UAE)

TV: Abu Dhabi Sports

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The Case For Trump

By Victor Davis Hanson
 

The specs

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Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

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Titanium Escrow profile

Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue  
Stage: Early stage
Investors: Founder's friends and Family

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

How does ToTok work?

The calling app is available to download on Google Play and Apple App Store

To successfully install ToTok, users are asked to enter their phone number and then create a nickname.

The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.

Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

LIVERPOOL SQUAD

Alisson Becker, Virgil van Dijk, Georginio Wijnaldum, James Milner, Naby Keita, Roberto Firmino, Sadio Mane, Mohamed Salah, Joe Gomez, Adrian, Jordan Henderson, Alex Oxlade-Chamberlain, Adam Lallana, Andy Lonergan, Xherdan Shaqiri, Andy Robertson, Divock Origi, Curtis Jones, Trent Alexander-Arnold, Neco Williams