Sir Richard Branson has shelved plans for 10 supersonic jets, dealing a blow for a new era of 'affordable' supersonic travel. Boom
Sir Richard Branson has shelved plans for 10 supersonic jets, dealing a blow for a new era of 'affordable' supersonic travel. Boom
Sir Richard Branson has shelved plans for 10 supersonic jets, dealing a blow for a new era of 'affordable' supersonic travel. Boom
Sir Richard Branson has shelved plans for 10 supersonic jets, dealing a blow for a new era of 'affordable' supersonic travel. Boom


Supersonic dreams grounded as air travel loses the quest for speed


  • English
  • Arabic

July 12, 2023

Flying back from a weekend in Berlin, my flight was delayed because the incoming aircraft was late.

Then, when it did materialise, there was no ground staff available to bring and install the bridge. The passengers on board had to wait for about 40 minutes before they could disembark.

Eventually, we boarded an hour or so after we were meant to. We’d missed our slot for take-off so we had to sit on the tarmac for another 40 minutes until one became free.

Nobody regarded it as out of the ordinary; in fact, the delay was viewed as everyday, run-of-the-mill. Some people were agitated in case they missed connecting flights, but there was no anger. Everyone was accepting.

At home in London, I read that EasyJet is cancelling 1,700 flights from Gatwick this summer due to problems across Europe with air traffic control.

Meanwhile, US company Boom is pressing on with plans to reintroduce commercial supersonic travel. The venture’s Overture aircraft is intended to fly 65 to 80 passengers at Mach 1.7 or 1,300 miles per hour. That’s more than twice the typical top speed of a current long-haul airliner.

It’s incongruous that we can’t find someone to fit the bridge between plane and terminal, and we’re having to scrap services due to air traffic control pressures, yet others are forging ahead with making flying super fast.

The airport experience, by and large, is slow and unpleasant.

Ever since Concorde was retired in 2003, in those intervening two decades air transport seems to have gone backwards not forwards.

The airport experience, by and large, is slow and unpleasant. The aircraft are usually crowded, cramped and often, dirty. Let’s not mention the food. The whole journey is best forgotten, as something to put up with, a necessary evil rather than a time to be enjoyed and savoured.

Intriguing then that Sir Richard Branson’s Virgin Group has shelved plans to buy a fleet of aircraft from Boom, and aero-engine manufacturer Rolls-Royce has withdrawn from the project, saying supersonic travel is no longer “a priority”.

In theory, you might have thought, it should be, that anything intended to speed up travel would be welcome. At last, we would be progressing, picking up where Concorde left off. We ought to be clamouring to halve flying times. Not necessarily so.

Concorde failed because of high fares, the amount of fuel it consumed and soaring maintenance costs. The craft might have been supersonic but it was still exposed to the slump in air travel following the 9/11 terrorist attacks.

Travellers queue at security at Heathrow Airport in London. AP
Travellers queue at security at Heathrow Airport in London. AP

Its cabin interior and cockpit were outdated, still based on design and technology from the mid-1970s, when the plane was introduced. Concorde was also incredibly and intrusively noisy – the bang of the sonic boom could be heard right across London.

It’s hard to know how much of that would alter with Boom. Obviously, Overture would be up to date, with cabin features and technical specifications far in advance of Concorde.

But it would still rely on elevated ticket prices, it would go through fuel, and without competition, parts would be costly.

And noise-wise it would be impossible to avoid – Boom would become a by-word for the aircraft.

Because of this, it may face being restricted to flying only over the sea – so London to UAE, London to Hong Kong, London to Sydney, these and many other possibly busy routes, that would be crying out for a supersonic service, they would be off-limits.

This is what the sceptics could see. Branson, too. When the Virgin founder steps back from a new, bold, ground-breaking venture, one intended to make a profit, you know it must bear a heap of issues.

Even if Boom takes off, and it is claiming the Overture will go into service in 2029, the firm will only service a relatively small number of travellers.

Currently, we enter a terminal and check in or if we’ve checked in already, drop our bags. Either way, we must prepare to queue. We participate in security systems that demand passengers remove their jackets and open their bags to retrieve laptops and liquids, only to repeat the procedure in reverse, once scanning is complete.

After that, having run the gauntlet of duty-free shopping, we must sit in the airport terminal. Unless we’re fortunate to be able to use an airline lounge, we must make do with functional seating and line up again to purchase food and drink.

Then, when the flight is called, we must head to the gate which is frequently far away. Once there, we sit again. Then we’re all herded aboard. If we’re lucky, we’re then racing down the runway and away.

Travellers queue to check in for their EasyJet flights at Gatwick Airport in London. EPA
Travellers queue to check in for their EasyJet flights at Gatwick Airport in London. EPA

All this usually takes two hours. Even if we’re going supersonic, it’s difficult to see how this process will be any different.

We will have reduced the flight time but not the waiting time at the beginning and end (I did not mention the delay while our bags are brought up and put on the conveyors, and the queue to get through the passport checks). And even a supersonic flight will be subject to the difficulties besetting air traffic control. It will also have to endure the effects of the industrial disputes that regularly trouble the air travel industry.

It does seem that our priorities are wrong. Given my Berlin trip and the news from EasyJet, all the money and creativity and engineering expertise going into developing supersonic flights for the lucky few would be better spent improving the lot for the unfortunate many.

UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EGrowdash%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJuly%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESean%20Trevaskis%20and%20Enver%20Sorkun%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ERestaurant%20technology%0D%3Cbr%3E%3Cstrong%3EFunding%20so%20far%3A%3C%2Fstrong%3E%20%24750%2C000%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Plus%20VC%2C%20Judah%20VC%2C%20TPN%20Investments%20and%20angel%20investors%2C%20including%20former%20Talabat%20chief%20executive%20Abdulhamid%20Alomar%2C%20and%20entrepreneur%20Zeid%20Husban%3C%2Fp%3E%0A
Third Test

Day 3, stumps

India 443-7 (d) & 54-5 (27 ov)
Australia 151

India lead by 346 runs with 5 wickets remaining

The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Yabi%20by%20Souqalmal%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMay%202022%2C%20launched%20June%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAmbareen%20Musa%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInitial%20investment%3A%20u%3C%2Fstrong%3Endisclosed%20but%20soon%20to%20be%20announced%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E12%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Eseed%C2%A0%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EShuaa%20Capital%3C%2Fp%3E%0A
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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.”

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

ENGLAND SQUAD

Joe Root (c), Moeen Ali, Jimmy Anderson, Jonny Bairstow, Stuart Broad, Jos Buttler, Alastair Cook, Sam Curran, Keaton Jennings, Ollie Pope, Adil Rashid, Ben Stokes, James Vince, Chris Woakes

WHY%20AAYAN%20IS%20'PERFECT%20EXAMPLE'
%3Cp%3EDavid%20White%20might%20be%20new%20to%20the%20country%2C%20but%20he%20has%20clearly%20already%20built%20up%20an%20affinity%20with%20the%20place.%3Cbr%3E%3Cbr%3EAfter%20the%20UAE%20shocked%20Pakistan%20in%20the%20semi-final%20of%20the%20Under%2019%20Asia%20Cup%20last%20month%2C%20White%20was%20hugged%20on%20the%20field%20by%20Aayan%20Khan%2C%20the%20team%E2%80%99s%20captain.%3Cbr%3E%3Cbr%3EWhite%20suggests%20that%20was%20more%20a%20sign%20of%20Aayan%E2%80%99s%20amiability%20than%20anything%20else.%20But%20he%20believes%20the%20young%20all-rounder%2C%20who%20was%20part%20of%20the%20winning%20Gulf%20Giants%20team%20last%20year%2C%20is%20just%20the%20sort%20of%20player%20the%20country%20should%20be%20seeking%20to%20produce%20via%20the%20ILT20.%3Cbr%3E%3Cbr%3E%E2%80%9CHe%20is%20a%20delightful%20young%20man%2C%E2%80%9D%20White%20said.%20%E2%80%9CHe%20played%20in%20the%20competition%20last%20year%20at%2017%2C%20and%20look%20at%20his%20development%20from%20there%20till%20now%2C%20and%20where%20he%20is%20representing%20the%20UAE.%3Cbr%3E%3Cbr%3E%E2%80%9CHe%20was%20influential%20in%20the%20U19%20team%20which%20beat%20Pakistan.%20He%20is%20the%20perfect%20example%20of%20what%20we%20are%20all%20trying%20to%20achieve%20here.%3Cbr%3E%3Cbr%3E%E2%80%9CIt%20is%20about%20the%20development%20of%20players%20who%20are%20going%20to%20represent%20the%20UAE%20and%20go%20on%20to%20help%20make%20UAE%20a%20force%20in%20world%20cricket.%E2%80%9D%C2%A0%3C%2Fp%3E%0A
Updated: July 14, 2023, 6:26 AM