Lufthansa planes at Frankfurt Airport. The airline has extended the suspension of its flights to Tehran due to the situation in the Middle East. Reuters
Lufthansa planes at Frankfurt Airport. The airline has extended the suspension of its flights to Tehran due to the situation in the Middle East. Reuters
Lufthansa planes at Frankfurt Airport. The airline has extended the suspension of its flights to Tehran due to the situation in the Middle East. Reuters
Lufthansa planes at Frankfurt Airport. The airline has extended the suspension of its flights to Tehran due to the situation in the Middle East. Reuters

Germany's Lufthansa extends Iran flight embargo amid rising tensions


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German airline Lufthansa announced on Thursday it had suspended flights to Tehran due to rising tensions in the region.

Lufthansa said it had suspended flights to and from Tehran from April 6 and that the suspension was due to end on Saturday.

“Due to the current situation, Lufthansa is suspending its flights to and from Tehran up to and including Saturday, April 13, after careful evaluation,” the airline said.

“We are constantly monitoring the situation in the Middle East and are in close contact with the authorities. The safety of our guests and crew members is Lufthansa's top priority,” a representative for the company told Reuters.

Lufthansa said it had suspended flights to and from Tehran until probably April 13, extending its suspension by two days, to avoid its crew having to disembark to spend the night in the Iranian capital.

“Last weekend it was decided not to operate a flight to Tehran with a layover for the crew due to the security situation,” a representative said.

“On the route, the crew has to spend the night in Tehran before the return flight to Frankfurt. We want to avoid disembarking for safety reasons.”

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Austrian Airlines, which is owned by Lufthansa and flies from Vienna to Tehran six times a week, said it was still planning to fly on Thursday but was adjusting timings to avoid an overnight layover.

“The Austrian Airlines flight to Tehran scheduled for today will take place, but will depart from Vienna several hours late in order to minimise the time between landing and departure in Tehran,” a representative said.

There was no immediate word from other international airlines that fly to Tehran.

An Arabic-language Iranian report posted on social media suggested the decision was the result of an airspace closure over parts of Iran during weapons testing. However, the post was later taken down.

Air traffic control authorities or militaries often issue warnings to commercial airlines when testing missiles and air defence systems, which often fly at high altitudes and have ranges of dozens, sometimes hundreds of kilometres.

The warnings, known as Notices to Airmen, or Notams, are also sometimes used to alert pilots to other aviation hazards. On Wednesday evening, rumours quickly spread online that Iran’s entire airspace was closed.

“Erroneous reports previously stated Iranian airspace was closed. Flights continue to operate to/from/through Iran. Per NOTAM, Tehran FIR is closed only to VFR traffic (aircraft operating at lower altitudes),” the online flight tracking site Flight Radar confirmed.

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The announcement comes after US President Joe Biden said America’s support for Israel was “ironclad” in the face of threats by Tehran to retaliate after an Israeli air strike on the Iranian embassy compound in Damascus, which killed two Iranian generals and several officers.

Iran’s supreme leader Ayatollah Ali Al Khamenei has warned there will be a “powerful response” to the attack, and news sites linked to the Islamic Revolutionary Guard Corps (IRGC), a branch of the military responsible for training proxy militias in the region, have boasted of weapons that can strike Israel.

Iran has a large arsenal of anti-aircraft missiles, and in January 2020, the IRGC shot down a Ukraine International Airlines passenger flight shortly after it took off from Tehran.

The shooting down of the Ukrainian aircraft in 2020 came at a time of heightened tension between Tehran and Washington over the killing of a top IRGC commander in a US drone strike at Baghdad airport.

Later, Tehran said that the shooting down of the Ukrainian aircraft was a “disastrous mistake” by troops who were on high alert.

In retaliation for the killing of Qassem Suleimani, head of an elite overseas unit of the IRGC, Iranian forces fired missiles at military bases in Iraq used by US troops on January 8, 2020.

Iran-backed militias have entered the fray across the region since the Israel-Gaza war began on October 7, when Hamas killed about 1,200 people and took about 240 hostages during an attack on southern Israel.

Israel's retaliatory air and ground campaign has killed more than 33,500 Palestinians in Gaza, the enclave's Health Ministry says.

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Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Nancy 9 (Hassa Beek)

Nancy Ajram

(In2Musica)

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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

The Programme

Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
Saturday, November 16: ‘Finding Vivian Maier’ (2013) by John Maloof and Charlie Siskel
Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
Saturday, December 7: ‘Timbuktu’ (2014) by Abderrahmane Sissako
Saturday, December 21: ‘Rams’ (2015) by Grimur Hakonarson

Illegal%20shipments%20intercepted%20in%20Gulf%20region
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Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

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Roll of honour

Who has won what so far in the West Asia Premiership season?

Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain

Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons

West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins

UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles

West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles

West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles

Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens

Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins

 

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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.”

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

Tiger%20Stripes%20
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While you're here
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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

BLACKBERRY
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SPECS
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Updated: April 11, 2024, 6:21 PM