Coronavirus: Etihad Airways launches transfer services to 20 destinations from June 10

Etihad Airways will launch a new transfer service linking 20 cities in Europe, Asia and Australia, via Abu Dhabi, from Wednesday, June 10.

The new services will make it possible for those travelling on the airline’s current network of special flights to connect through the UAE capital on to key destinations around the world.

Transfer connections via Abu Dhabi will now be available from Jakarta, Karachi, Kuala Lumpur, Manila, Melbourne, Seoul, Singapore, Sydney and Tokyo, to major cities across Europe, including Amsterdam, Barcelona, Brussels, Dublin, Frankfurt, Geneva, London Heathrow, Madrid, Milan, Paris Charles de Gaulle and Zurich.

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Sheikh Hamdan says Dubai ready to take off

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, chairs a Dubai Executive Council meeting at Terminal 3 in Dubai International Airport on Monday. Courtesy: Dubai Media Office
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, chairs a Dubai Executive Council meeting at Terminal 3 in Dubai International Airport on Monday. Courtesy: Dubai Media Office
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, chairs a Dubai Executive Council meeting at Terminal 3 in Dubai International Airport on Monday. Courtesy: Dubai Media Office
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, visits Dubai International Airport on Monday. Courtesy: Dubai Media Office
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, visits Dubai International Airport on Monday. Courtesy: Dubai Media Office
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, visits Dubai International Airport on Monday. Courtesy: Dubai Media Office

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Etihad has implemented a sanitisation and safety programme, which covers catering, aircraft and cabin deep-cleaning. It also is a factor across check-in, health screening, boarding, in-flight, crew interaction, meal service, disembarkation and ground transportation.

Guests travelling on Etihad Airways flights are required to wear a face mask throughout their journey.

The decision to resume transit flights through the UAE comes after the completion of a safety study by experts from the Ministry of Health and Prevention and the General Civil Aviation Authority.

Saif Al Dhaheri, a spokesman for the National Crisis and Emergency Management Authority, said comprehensive measures have been put in place to protect passengers and airline staff at every stage of their journey.

"Airport staff across the country have been thoroughly trained on precautionary measures, including the screening of passengers and dealing with suspected cases," said Al Dhaheri, who added that the move was "a new positive step in the gradual restoration of normal life".

Transit flights will resume at Abu Dhabi, Dubai and Sharjah international airports. The country's other airlines – Emirates, flydubai and Air Arabia, are all due to unveil flight schedules and other details, including safety procedures, in the coming days.

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In pictures: Sharjah airport is now ready to welcome UAE residents home

New safety measures are in place at Sharjah International Airport as it prepares to welcome UAE residents home from overseas.
Airport signage has been updated to follow government-issued safety advice for airports across the UAE.
Thermal scanners and sanitisation facilities have been installed at the airport to detect and protect against Covid-19.
Protective screens will keep passengers and airport staff safe.
Social distancing measures are clearly marked with seats blocked off to ensure travellers keep a safe distance between them.
Floor markers and barriers are designed to ensure social distancing throughout the airport.

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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.”