An Air India Express flight from Abu Dhabi to Kozhikode returned shortly after take-off on Friday. Photo: Aero Icarus
An Air India Express flight from Abu Dhabi to Kozhikode returned shortly after take-off on Friday. Photo: Aero Icarus
An Air India Express flight from Abu Dhabi to Kozhikode returned shortly after take-off on Friday. Photo: Aero Icarus
An Air India Express flight from Abu Dhabi to Kozhikode returned shortly after take-off on Friday. Photo: Aero Icarus

Air India Express flight to Kozhikode returns to Abu Dhabi after engine fault


Anjana Sankar
  • English
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A flight to India returned to Abu Dhabi's international airport shortly after take-off on Friday because of an engine fault.

The incident happened on Air India Express flight IX 348, which was heading to Kozhikode in Kerala, the airline confirmed to The National.

"It returned to Abu Dhabi airport following a technical snag in one of the engines, which was identified while taking off," a spokesman said.

"The aircraft landed safely, following all laid down procedures at Abu Dhabi International Airport."

The 184 passengers safely left the plane, the representative said.

"Alternate arrangements are being made for the guests. We regret the inconvenience caused to our guests on board."

India's Directorate General of Civil Aviation said flames were seen in the first engine at 1,000 feet during the climb.

In July 2022, an Air India Express flight from Calicut scheduled to land in Dubai was diverted to Muscat after the crew detected a burning smell in the galley.

A faulty oven on the flight was thought to have caused the strong odour to spread.

The oven was disconnected in Oman and 127 passengers and two infants were brought to Dubai after a six-hour delay on July 17.

Air India Express crash in 2020 - in pictures

  • A photo made available by the Indian Civil Defense shows the wreckage. EPA/Civil Defence
    A photo made available by the Indian Civil Defense shows the wreckage. EPA/Civil Defence
  • An injured passenger is wheeled into Medical College Hospital in Calicut after an Air India Express flight skidded off the runway while landing at Kozhikode International Airport. AP Photo
    An injured passenger is wheeled into Medical College Hospital in Calicut after an Air India Express flight skidded off the runway while landing at Kozhikode International Airport. AP Photo
  • Rows of ambulances are seen outside the airport where a passenger plane crashed. Reuters
    Rows of ambulances are seen outside the airport where a passenger plane crashed. Reuters
  • Indian news agency ANI shared these images from the crash site, which showed the Air India Express plane split in two close to Kozhikode-Calicut International Airport. ANI
    Indian news agency ANI shared these images from the crash site, which showed the Air India Express plane split in two close to Kozhikode-Calicut International Airport. ANI
  • Images from India's ANI news agency show a damaged Air India Express plane that crashed close to the runway at Kozhikode International Airport. ANI / Reuters
    Images from India's ANI news agency show a damaged Air India Express plane that crashed close to the runway at Kozhikode International Airport. ANI / Reuters
  • Images from India's ANI news agency show a damaged Air India Express plane that crashed close to the runway at Kozhikode International Airport. ANI / Reuters
    Images from India's ANI news agency show a damaged Air India Express plane that crashed close to the runway at Kozhikode International Airport. ANI / Reuters
  • Officials inspect the wreckage site of a plane crash. EPA/Civil Defence
    Officials inspect the wreckage site of a plane crash. EPA/Civil Defence
  • The Air India Express flight that skidded off a runway. AP
    The Air India Express flight that skidded off a runway. AP
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UAE currency: the story behind the money in your pockets
EA Sports FC 24

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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Updated: February 03, 2023, 9:28 AM