In a year when the aviation industry has faced one of its biggest-ever crises, Australian airline Qantas is taking a moment to celebrate its 100th anniversary.
The world’s oldest continuously operating airline started life in 1920 with just two rickety biplanes. A century later, the airline has a fleet of more than 310 aircrafts and, before the global pandemic hit, carried 50 million passengers a year to more than 50 domestic and 27 international destinations.
This year, the airline has been largely grounded thanks to the Covid-19 pandemic, bringing a new challenge to an airline well-known for stepping up in times of crisis.
"For most of this year, it's the distance between Melbourne and Sydney, or any of our capitals, that has been the challenge. [We've had] hard state borders for the first time in, coincidently enough, about 100 years," said Qantas chief executive Alan Joyce, as he spoke about the airline's anniversary.
“Now, as Australia opens up, we’re ready to fly again. And when people see the familiar kangaroo on the tail, it has another bit of history behind it," he added.
As the airline celebrates its centenary, we roll back the years to look at some of the most notable moments in Qantas's 100-year history.
1920s: Take-off
The airline began life on November 16, 1920, when it was registered as the Queensland and Northern Territory Aerial Services. Founded by Hudson Fysh, Paul McGinness and Fergus McMaster, the airline took flight a year later when it started operating charter services across outback Queensland in a small biplane.
In November 1922, the airline's first scheduled service was introduced to transport mail and passengers from Longreach to Cloncurry in Queensland. The very first passenger was an 84-year-old outback pioneer named Alexander Kennedy who boarded the flight at Longreach with ticket number 1.
1930: Finding fame
By the 1930s, Qantas had already started spreading its wings overseas. The airline partnered with Imperial Airways (which would go on to become British Airways) on the first flight from Sydney to London via Singapore. Renowned comedian Charlie Chaplin became one of the airline's first celebrity passengers during this decade.
1940s: War-time efforts
Qantas operated "Double Sunrise" flights in the 1940s to maintain the air link with Britain after the fall of Singapore in the Second World War. Flying in radio silence over hostile waters, the 30-hour flights were airborne so long that passengers saw the sun rise twice. Later this decade, the airline also launched its now famous Kangaroo routes – flying all the way from Australia to London.
1950s: Flying Queen Elizabeth II
It was in the 1950s when Qantas began operating flights to South Africa – flying to Johannesburg from Australia and then to several other destinations around the world. Notable among these was its 1959 service from Australia to San Francisco, the first-ever trans-Pacific passenger jet service operated via a Boeing 707. The airline also hosted royalty this decade, with Queen Elizabeth II flying Qantas to Australia during her royal tour of the country in 1954.
1960s: The golden age
During a time of glamorous hostesses, gourmet meals and serious leg room, Qantas introduced its popular "Fiesta Route". This service took Australians to London via Mexico, Tahiti and Bermuda and promised international travellers "sunbathed lands off the more familiar beaten track".
1970s: Introducing Business Class
Aviation was changed forever in the 1970s when Qantas was one of the first airlines to introduce Business Class cabins. Offering more legroom and amenities than economy class, at a lower price than First Class fares, Qantas was the first airline to introduce wider, more comfortable seats in this new class of travel. The airline also set a record in 1974 for operating a flight with the largest number of people on a Boeing 747. This was after Cyclone Tracy devastated Darwin and the airline crammed 674 passengers on a jet in an effort to evacuate the city as quickly as possible.
1980s: Non-stop London to Sydney
In 1989, Qantas operated a record-breaking 747-400 flight when it flew non-stop from London to Sydney. The special service navigated more than 17,000 kilometres for 20 hours and nine minutes with just 18 people on board, mostly Qantas crew and members of the media.
1990s: Flying art
In 1994, Qantas introduced its Flying Art series, which continues today. Acknowledging Aboriginal and Torres Strait Islander peoples as the continuing custodians and traditional owners of the land, the airline commissions indigenous artists to create livery for select jets in its fleet.
The first design was called Wunala Dreaming and was unveiled in 1994 on a now-retired Boeing 747-438. The motif was an overall red design depicting ancestral spirits in the form of kangaroos travelling in the outback.
2000s: The age of the A380
In 2008, Qantas introduced the first of 12 Airbus A380s to its fleet. The first superjumbo was handed over to Qantas in a moonlit ceremony at Airbus' Toulouse headquarters in France. The first double-decker Qantas A380 comfortably flew 450 passengers in four cabins and had 14 single private suites in First Class, as well as a private lounge area in the upper deck of the Business Class cabin.
2010s: Project Sunrise
In 2019, Qantas began working on research flights to usher in what it called the final frontier of flying. Test flights on a Boeing 787 operated direct from London and New York to Sydney in under 20 hours. The purpose was to gather research and data for Project Sunrise, which could fuel the future of air travel. After a detailed evaluation of the Boeing 777X and Airbus A350 aircraft, both contenders to operate the service if it becomes a reality, Qantas selected the A350-1000 as the preferred aircraft. However, plans have now been put on hold due to Covid-19.
2020s: Weathering the storm
Qantas operated more than 100 repatriation flights for the Australian Federal Government to bring people home from Covid-19 hot spots around the world when the global pandemic first grounded flights.
Since then, the pandemic has largely clipped the Flying Kangaroo's wings as Qantas grounded the majority of its fleet as demand for international travel plummeted. The airline also cited the pandemic as the reason it bid an early farewell to its final Boeing 747 jet in July this year. The "Queen of the Skies" traced the shape of the airline's logo off the Australian coast as a final flourish before departing Australia for the final time.
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Germany v Mexico, 7pm, tomorrow
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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.”
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THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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4.35pm: Mahab Al Shimaal Group 3 $200,000 (D) 1,200m.
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