Etihad will launch daily flights from Abu Dhabi to Israel in March 2021. Courtesy Unsplash
Etihad will launch daily flights from Abu Dhabi to Israel in March 2021. Courtesy Unsplash
Etihad will launch daily flights from Abu Dhabi to Israel in March 2021. Courtesy Unsplash
Etihad will launch daily flights from Abu Dhabi to Israel in March 2021. Courtesy Unsplash

Etihad to begin daily flights between Abu Dhabi and Israel in March

The national airline will operate seven flights per week between the UAE capital and Tel Aviv

Hayley Skirka
Hayley Skirka

November 16, 2020

  • English
  • Arabic

Etihad Airways will begin flying to Israel in March 2021.

The national airline of the UAE is launching a daily service from Abu Dhabi International Airport to Ben Gurion International Airport in Tel Aviv.

Flights take three hours and 25 minutes and are scheduled to operate year-round. The first service will depart the UAE on Sunday, March 28.

Economy fares start from $445 (Dh1,635) for flights that will depart Abu Dhabi at 9.45am, landing in Israel just after noon.

The recently signed air transport agreement between the UAE and Israel has allowed airlines in the UAE to begin introducing passenger and cargo flights between the countries.

Etihad will fly daily from Abu Dhabi to Tel Aviv with flights commencing March 28 and fares from $445. Courtesy Etihad
Etihad will fly daily from Abu Dhabi to Tel Aviv with flights commencing March 28 and fares from $445. Courtesy Etihad

One month after the signing of the Abraham Accords in Washington, DC on September 15, Etihad operated the first commercial passenger flight by a GCC airline to and from Tel Aviv. Now, the airline is making the route a regular feature of its service.

“Following the signing of the new bilateral agreement, Etihad is delighted to announce a direct link between these important cities," said Mohammad Al Bulooki, chief operating officer at Etihad. "The commencement of scheduled flights is a historic moment and, as an airline, cements Etihad’s commitment to growing opportunities for trade and tourism not just between the two countries but also within the region and beyond."

Departure times have been scheduled to allow travellers to easily connect via Abu Dhabi to hub destinations such as China, India, Thailand and Australia.

A mutual visa-free travel scheme between the two countries will allow Emiratis to travel to Israel for up to 90 days without a visa.

Etihad announced the service after low-cost airline flydubai said it would be the first UAE airline to operate regular commercial passenger flights to Israel. The airline is set to begin flying to Tel Aviv on Thursday, November 26.

Flydubai will be the first airline to operate passenger flights directly from Dubai to Tel Aviv when it launches its twice daily flights from Dubai International Airport.

if you go

The flights

Flydubai flies to Podgorica or nearby Tivat via Sarajevo from Dh2,155 return including taxes. Turkish Airlines flies from Abu Dhabi and Dubai to Podgorica via Istanbul; alternatively, fly with Flydubai from Dubai to Belgrade and take a short flight with Montenegro Air to Podgorica. Etihad flies from Abu Dhabi to Podgorica via Belgrade. Flights cost from about Dh3,000 return including taxes. There are buses from Podgorica to Plav. 

The tour

While you can apply for a permit for the route yourself, it’s best to travel with an agency that will arrange it for you. These include Zbulo in Albania (www.zbulo.org) or Zalaz in Montenegro (www.zalaz.me).

 

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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.”

While you're here
The biog

Hobbies: Salsa dancing “It's in my blood” and listening to music in different languages

Favourite place to travel to: “Thailand, as it's gorgeous, food is delicious, their massages are to die for!”  

Favourite food: “I'm a vegetarian, so I can't get enough of salad.”

Favourite film:  “I love watching documentaries, and am fascinated by nature, animals, human anatomy. I love watching to learn!”

Best spot in the UAE: “I fell in love with Fujairah and anywhere outside the big cities, where I can get some peace and get a break from the busy lifestyle”

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