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Emirates to develop 5 towers in Dubai
Emirates Airline – one of the fastest-growing carriers in the world – has unveiled plans to build five new residential towers in the Dubai Silicon Oasis (DSO) free zone, which will be used to house hundreds of the company's employees.The firm has expanded significantly in recent years and now has more than 62,000 staff across 50 business units around the world.Bosses at the airline confirmed the organisation was planning to create another 2,700 jobs this year and this has heightened the need for new facilities.Emirates has signed an agreement with the DSO – which is owned by the Dubai government – and work to construct the 25-storey skyscrapers will commence in the third quarter of 2013.The airline's executive vice president Ali Mubarak Al Soori said the firm was keen to build within the DSO because of its excellent facilities and infrastructure.Mr Al Soori added that the deal cements Emirates' strong relationship with the technology park.”We are keen to build upon the synergy we share with DSO and continue to look at developing residential towers that provide our cabin crew with an ideal housing environment,” he remarked.Once the buildings are up and running they should be able to accommodate 2,000 of the company's employees at any one time.There is no doubt that the huge success of Emirates has been a major factor behind the rise of Dubai International Airport.The facility was recently confirmed as the second-busiest on earth and aviation experts are widely tipping the airport to overthrow London's Heathrow at the top of the standings within the next few years.Emirates has also become a world leader when it comes to adopting double-decker A380 aeroplanes.These huge planes are revolutionising air travel and figures released in February showed that a staggering 14 million passengers have completed a journey on an Emirates A380.This is very impressive, as the company did not add the vessels to its fleet until August 2008. Continue reading
Art2Gether: Getting together for art’s sake
Pakistani artist’s painting to be auctioned by Christie’s to provide hunger relief Dervish Dance for charity Sarah Young An award-winning artist will donate the proceeds of her work to impoverished Pakistanis after her painting is auctioned at Christie’s next month, and hopes her work will continue to spread optimism and change in an intolerant world. Dubai-based Pakistani-British artist Faiza Shaikh’s painting, “Dervish Dance”, was selected by major auction-house Christie’s for their upcoming Contemporary Pakistani Art Now Auction on May 1 at Mina A’Salam, Dubai. Shaikh will donate the proceeds to the World Food Programme (WFP), a branch of the UN, to provide hunger relief in Pakistan. It was a huge honour to have her painting selected, she said. “This is the first such event by Christie’s for Pakistani artists, so it’s very significant for Pakistan.” Pakistani art has been growing in popularity, particularly in the UK, and this represented a great opportunity for Pakistani artists to be shown on an international platform, she said. “There’s a lot of talent in Pakistan but the opportunities are not there.” The painting’s reserve price was $5000 – $6000, but she was hoping it would go for more than that, given the WFP was a “subject very close to (her) heart”. “It’s an honour that one of my paintings will help raise funds for the hungry. “I’ve been involved with a number of charities, and it’s a nice feeling that my works benefit others in many different ways.” The work is part of a series of paintings she is doing influenced by the 13 th -century poet Rumi. Painted last year, her piece depicted three women dancing the dervish, or whirling, dance, and was based on Rumi’s idea of the need to dissolve the ego and not forget our spiritual existence, she said. “He believed dance, music, poetry and art provided a path to get closer to God.” The women’s right hands reach to the sky to ask for God’s mercy, while the left hands reach to the earth to represent all God’s creatures seeking his mercy. The tall hats represent the “tombstone of the ego”, she said. Shaikh’s work, which tries to depict philosophy, politics, poetry and economics on canvas, is recognisable for the rich textures, strong colours and the use of gold and silver leaf scripted with messages from all religions including Buddhist and Sandskrit. “All of my work has some kind of philosophical message. I’ve always believed that art is a way to get through to people, and it’s a good way to share your aspirations. “This (work) is slightly different but all philosophies are similar, focusing on love, peace and devotion. All have a message about getting rid of the ego and being tolerant. The world is lacking tolerance these days.” And despite this lack, and the “troubles going on in the world”, optimism remained a clear theme in her work, she said. “When I speak of optimism, it is that there is hope for a change, and I hope the viewers (of my work) see the same.” Shaikh moved from London to Dubai last year. “I miss London but Dubai has a definite charm — there are lots of major art events here now, great galleries and opportunities for artists.” She said she was currently finalising an agreement to show her works in a major hotel chain, “and this (was) the kind of opportunity you get in Dubai that is not elsewhere.” The not-for-profit auction is being held under the patronage of Shaikh Nahyan bin Mubarak Al Nahyan, Minister of Culture, Youth and Community Development, at the Mina A’Salam Hotel on May 1. The collection will include 55 pieces from both established masters and emerging Pakistani artists, including Jamil Naqsh, Iqbal Medhi, Gulgee, Shakir Ali, Shahid Jamal, Sadequain, Bashir Mirza and Ahmed Parveez. The works, donated by artists, private collectors and art galleries, can be viewed on April 30. sarah@khaleejtimes.com Continue reading
Etihad and Jet Airways seal big deal
Etihad and Jet Airways seal big deal Issac John in Dubai and Nithin Belle in Mumbai / 25 April 2013 Etihad Airways, the UAE national carrier, has agreed to acquire a 24 per cent stake in India’s Jet Airways for $379 million, the airlines announced on Wednesday. The long expected landmark deal has set the stage for the struggling Jet Airways to become the first beneficiary of a key policy change that allowed foreign airlines to buy up to 49 per cent in Indian carriers. “Etihad Airways’ wider overall commitment to Jet Airways includes the injection of $220 million to create and strengthen a wide-ranging partnership between the two carriers,” Etihad said in a statement. As part of this, Etihad paid $70 million to acquire three pairs of Heathrow slots of Jet Airways through a sale and lease back agreement announced on February 27. Jet continues to operate flights to London utilising these slots. Besides, an amount of $150 million will be invested by Etihad Airways by way of a majority equity investment in Jet Airways’ frequent flyer programme “Jet Privilege”, subject to appropriate regulatory and corporate approvals and final commercial agreements which are expected to be completed within the next six months, Etihad said. Etihad Airways President and Chief Executive Officer, James Hogan, and the Chairman of Jet Airways, Naresh Goyal, unveiled details of the deal that is expected to have far reaching impact on Indian civil aviation sector. “We are pleased to have reached this significant stage in India with Jet Airways and are certain the partnership will bring significant benefits and opportunities for global growth to both airlines. “It is expected to bring immediate revenue growth and cost synergy opportunities, with our initial estimates of a contribution of several hundred million dollars for both airlines over the next five years. “The Indian market is fundamental to our business model of organic growth partnerships and equity investments. This deal will allow us to compete more effectively in one of the largest and fastest-growing markets in the world.” Etihad Airways’ investment in Jet Airways follows the minority equity stakes taken by the Abu Dhabi-based airline in airberlin, Air Seychelles, Virgin Australia and Aer Lingus over the past 12 months. Speaking to Khaleej Times recently at the launch of Etihad’s inaugural flight to Washington DC, Hogan said profitability was the key factor in his carrier’s organic growth partnerships and equity investments strategy. Ruling out any move to revive talks with Kingfisher Airline, another embattled Indian carrier, Hogan hinted at increasing Etihad stake in Irish carrier Aer Lingus from the current three per cent as it seeks to expand its operations to 100 destinations from the current 86 global cities. Earlier on Wednesday, Jet Airways, India’s largest airline by market share, said in a brief statement to the stock exchange that its board approved the allotment to Etihad of 27.3 million shares at 754.74 rupees each on a preferential basis. Naresh Goyal thanked the Indian government, especially the ministries of aviation, commerce and industry and finance, “for having the foresight to introduce the historic reform of allowing FDI into civil aviation in India”. Infusion of FDI in the domestic sector will result in the improvement of the economics of aviation, grow traffic at Indian airports and create job opportunities, he added. “I am extremely happy to be in a partnership with an airline that shares our customer-centric operational philosophy and ethos. I have no doubt that this partnership with Etihad Airways is a win-win situation for all our stakeholders, especially our guests, who will now have access to a much expanded global network.” The transaction further strengthens the balance sheet of Jet Airways and, more importantly, underpins future revenue streams, which will accelerate our return to sustainable profitability and liquidity, noted Goyal. Following the deal, the two airlines will gradually expand existing operations and introduce new routes between India and Abu Dhabi, providing an ever wider choice to the travelling public. They will combine their network of 140 destinations, with Jet Airways establishing a Gulf gateway in Abu Dhabi and expanding its reach through Etihad Airways’ growing global network. Passengers from 23 cities in India will benefit from direct connections to international destinations. New flights from Jet Airways’ home hubs and metro airports will further strengthen its current operations from these airports. Jet Airways aims to develop Delhi and Mumbai airports as its primary home hubs and connecting them to Asian, European and other regions. A key component of the wide-ranging partnership is expanded code-sharing on flights with passengers benefiting from reciprocal ‘earn-and-burn’ rights on the airlines’ frequent flyer programmes. The proposed codeshare expansion will significantly enable Etihad Airways to tap into India’s rapidly growing travel market, providing additional passenger traffic to Etihad Airways’ Middle Eastern, North American and European destinations, and give Jet Airways passengers from various cities access to an expanded network. According to a Jet Airways spokesperson, current estimates predict the size of the Indian market to grow to 42 million travellers over the next five years at a rate of 10 per cent per year, while the Indian middle class, which provides the majority of air travel demand, is forecast to grow by 200 million, over the next eight years. Etihad Airways currently flies to nine Indian destinations including Delhi, Chennai, Mumbai, Kozhikode, Thiruvananthapuram, Hyderabad, Bangalore, Ahmedabad and Kochi, with a total of 59 flights per week. The partnership will also help drive a significant increase in traffic growth through Abu Dhabi International Airport, as well as Jet Airways’ hubs of Mumbai and Delhi international airports. Key benefits for both airlines will flow from synergies and cost savings in areas, including fleet acquisition, maintenance, product development and training. news@khaleejtimes.com Continue reading
