• Travellers to the UK this summer should brace themselves for disruptions and changes to flight schedules. Reuters
    Travellers to the UK this summer should brace themselves for disruptions and changes to flight schedules. Reuters
  • Officials at Heathrow Airport have announced a cap on flights over the summer. Photo: Jonathon Heyward / Twitter
    Officials at Heathrow Airport have announced a cap on flights over the summer. Photo: Jonathon Heyward / Twitter
  • The cap on flights is aimed at cutting huge queues. AP
    The cap on flights is aimed at cutting huge queues. AP
  • Airlines were told to stop selling tickets to the west London airport. AP
    Airlines were told to stop selling tickets to the west London airport. AP
  • Uncollected suitcases pile up at Heathrow's Terminal Three baggage reclaim, as British Airways axed another 10,300 short-haul flights up to the end of October. AFP
    Uncollected suitcases pile up at Heathrow's Terminal Three baggage reclaim, as British Airways axed another 10,300 short-haul flights up to the end of October. AFP
  • Lines of passenger luggage lie arranged outside Terminal 2 at Heathrow Airport. Reuters
    Lines of passenger luggage lie arranged outside Terminal 2 at Heathrow Airport. Reuters

Emirates wins battle to keep flights at Heathrow but agrees not to sell more tickets


Neil Murphy
  • English
  • Arabic

Emirates will continue to fly from Heathrow but has agreed not to sell additional tickets until mid-August following delays and disruption at Europe's busiest airport.

Heathrow has been marred by operational issues in recent weeks that have resulted in flight cancellations, lengthy check-in queues for passengers as well as problems with baggage handling.

On Tuesday, Heathrow sparked a row after it imposed a cap of 100,000 daily departing passengers and urged airlines to stop selling summer tickets.

The demands were rejected by major airlines including Virgin Atlantic, Emirates and British Airways, which said they would continue their services as scheduled.

In a joint statement, Emirates president Sir Tim Clark and Heathrow chief executive John Holland-Kaye said both companies had held a “constructive meeting” on Friday in which they agreed to keep “demand and capacity in balance”.

“Emirates agreed the airline was ready and willing to work with the airport to remediate the situation over the next two weeks, to keep demand and capacity in balance and provide passengers with a smooth and reliable journey through Heathrow this summer,” the statement said.

“Emirates has capped further sales on its flights out of Heathrow until mid-August to assist Heathrow in its resource ramp-up, and is working to adjust capacity.

“In the meantime, Emirates flights from Heathrow [will] operate as scheduled and ticketed passengers may travel as booked.”

An Emirates A380 taxis on the tarmac at London Heathrow Airport in 2018. Getty Images
An Emirates A380 taxis on the tarmac at London Heathrow Airport in 2018. Getty Images

Heathrow and other European airports have capped passenger numbers to combat flight delays and cancellations caused by surging demand and staff shortages following huge layoffs during the pandemic.

In December last year, Heathrow said it expected passenger numbers for 2022 to reach about 45 million.

It subsequently raised its forecast to “nearly 53 million” in May and 54.4 million for last month.

Terminal 4 reopened on June 14, three months after the UK lifted all remaining coronavirus travel restrictions.

It was the last terminal at any major European airport to resume operations during the pandemic.

Virgin Atlantic chief customer and operating officer Corneel Koster said “everybody should have got ready for this increased demand”.

He told the PA news agency: “If you’re around the table and the Heathrow voice says, ‘it won’t happen, it will come later, I will only open my fourth terminal in June’, that’s a planning mistake.

“They have downplayed demand. They should have opened [Terminal 4] earlier. They should have played an even stronger role in the community.”

W.
Wael Kfoury
(Rotana)

Dubai Creek Open in numbers
  • The Dubai Creek Open is the 10th tournament on this year's Mena Tour
  • It is the first of five events before the season-concluding Mena Tour Championship
  • This week's field comprises 120 players, 21 of which are amateurs
  • 15 previous Mena Tour winners are competing at Dubai Creek Golf and Yacht Club  
How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

COMPANY PROFILE
Name: Mamo 

 Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua

 Based: Dubai, UAE

 Number of employees: 28

 Sector: Financial services

 Investment: $9.5m

 Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. 

 
Meydan race card

6.30pm: Baniyas (PA) Group 2 Dh125,000 (Dirt) 1,400m
7.05pm: Maiden (TB) Dh165,000 (D) 1,200m​​​​​​​
7.40pm: Maiden (TB) Dh165,000 (D) 1,400m​​​​​​​
8.15pm: Handicap (TB) Dh170,000 (D) 1,900m​​​​​​​
8.50pm: Rated Conditions (TB) Dh240,000 (D) 1,600m​​​​​​​
9.25pm: Handicap (TB) Dh175,000 (D)1,200m
10pm: Handicap (TB) Dh165,000 (D) 1,400m

The specs

Engine: 3.9-litre twin-turbo V8

Transmission: seven-speed

Power: 620bhp

Torque: 760Nm

Price: Dh898,000

On sale: now

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

500 People from Gaza enter France

115 Special programme for artists

25   Evacuation of injured and sick

Cheeseburger%20ingredients
%3Cp%3EPrice%20for%20a%20single%20burger%20%C2%A30.44%3Cbr%3EPrice%20for%20a%20single%20bun%20%C2%A30.17%3Cbr%3EPrice%20for%20a%20single%20cheese%20slice%20%C2%A30.04%3Cbr%3EPrice%20for%2010g%20Gherkins%20is%20less%20than%20%C2%A30.01%3Cbr%3EPrice%20for%2010g%20ketchup%20is%20less%20than%20%C2%A30.01%20%3Cbr%3EPrice%20for%2010g%20mustard%20is%20less%20than%20%C2%A30.01%3Cbr%3EPrice%20for%2010g%20onions%20is%20less%20than%20%C2%A30.01%3C%2Fp%3E%0A%3Cp%3ETotal%2068p%3C%2Fp%3E%0A%3Cp%3ECredit%3A%20Meal%20Delivery%20Experts%3C%2Fp%3E%0A
Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

Fight card

1. Bantamweight: Victor Nunes (BRA) v Siyovush Gulmamadov (TJK)

2. Featherweight: Hussein Salim (IRQ) v Shakhriyor Juraev (UZB)

3. Catchweight 80kg: Rashed Dawood (UAE) v Khamza Yamadaev (RUS)

4. Lightweight: Ho Taek-oh (KOR) v Ronald Girones (CUB)

5. Lightweight: Arthur Zaynukov (RUS) v Damien Lapilus (FRA)

6. Bantamweight: Vinicius de Oliveira (BRA) v Furkatbek Yokubov (RUS)

7. Featherweight: Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)

8. Flyweight: Shannon Ross (TUR) v Donovon Freelow (USA)

9. Lightweight: Mohammad Yahya (UAE) v Dan Collins (GBR)

10. Catchweight 73kg: Islam Mamedov (RUS) v Martun Mezhulmyan (ARM)

11. Bantamweight World title: Jaures Dea (CAM) v Xavier Alaoui (MAR)

12. Flyweight World title: Manon Fiorot (FRA) v Gabriela Campo (ARG)

Sunday's fixtures
  • Bournemouth v Southampton, 5.30pm
  • Manchester City v West Ham United, 8pm
A%20QUIET%20PLACE
%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Lupita%20Nyong'o%2C%20Joseph%20Quinn%2C%20Djimon%20Hounsou%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EMichael%20Sarnoski%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Updated: July 16, 2022, 3:15 PM