How Omicron is affecting flights: Etihad, Emirates and KLM issue travel restrictions


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Live updates: follow the latest news on Covid-19 variant Omicron

Growing concern over Omicron, the new coronavirus variant, has prompted the UAE and other nations to impose travel restrictions on flights from the southern African region.

The variant was first detected in South Africa, but cases have also been detected in Belgium and Botswana. On Friday, an emergency meeting was held by the World Health Organisation after a rapid spike of cases was seen in the African nation, where at least 77 cases have been detected.

Here's a look at how air travel has been affected so far:

Etihad

Following the latest directives from the UAE government, Etihad will suspend all passenger services between the UAE and Johannesburg from November 29 until further notice. This is “in response to the spread of the newly identified variant of Covid-19”, according to an Etihad spokesperson.

Etihad is working closely with impacted guests to notify them of the changes to their itineraries. Guests who have purchased their tickets through a travel agent are advised to contact the agency for assistance.

More information is available at etihad.com/destinationguide.

Emirates

Emirates has issued travel restrictions on seven countries in Africa owing to concerns about the new coronavirus variant.

All travellers departing from or transiting Botswana, Eswatini, Lesotho, Mozambique, Namibia, Zimbabwe and South Africa will not be accepted for travel into Dubai from November 27 until further notice.

Affected travellers do not need to rebook, but can hold on to their Emirates ticket and once flights resume, can call to make a new booking. Those travelling to these countries are not affected by the directive and can continue with their flight plans.

UAE citizens, members of diplomatic missions, official delegations and those with golden residence visas travelling to the UAE from the seven African countries are excluded from the new rules.

Those who are exempt will need to present a negative Covid-19 test obtained within 48 hours of departure, take a rapid PCR test at the airport within six hours of departure and perform another PCR test at the airport when arriving in the UAE.

A 10-day quarantine and a PCR test on the ninth day of entering the country will be required as well.

Official delegations will be required to quarantine at the airport until their test results are received and then will be able to continue their mission in the UAE without the 10-day quarantine.

KLM

Dutch airline KLM also announced that flights to the Netherlands from South Africa, Namibia, Botswana, Zimbabwe, Lesotho and Eswatini are banned as of November 26.

The African countries have been added to the Netherlands' “very high-risk” list, meaning that arriving passengers will have to get a PCR test and will be placed in hotel quarantine for 10 days.

This can be shorted to five days with a negative test result from the country's municipal health service the GGD. Those who have a connecting flight will also need to get tested. This applies to Dutch and EU citizens in transit to the country where they live.

The announcement comes after the WHO designated the new B. 1.1.529 Omicron strain as a “variant of concern".

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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.”

if you go

Getting there

Etihad (Etihad.com), Emirates (emirates.com) and Air France (www.airfrance.com) fly to Paris’ Charles de Gaulle Airport, from Abu Dhabi and Dubai respectively. Return flights cost from around Dh3,785. It takes about 40 minutes to get from Paris to Compiègne by train, with return tickets costing €19. The Glade of the Armistice is 6.6km east of the railway station.

Staying there

On a handsome, tree-lined street near the Chateau’s park, La Parenthèse du Rond Royal (laparenthesedurondroyal.com) offers spacious b&b accommodation with thoughtful design touches. Lots of natural woods, old fashioned travelling trunks as decoration and multi-nozzle showers are part of the look, while there are free bikes for those who want to cycle to the glade. Prices start at €120 a night.

More information: musee-armistice-14-18.fr ; compiegne-tourisme.fr; uk.france.fr

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Updated: November 29, 2021, 11:49 AM