November 2021 by MEA Business

News, Reviews and Analysis.

November Issue 2021

DELIVERING PRIVATE AVIATION SERVICE EXCELLENCE IN THE UAE AND BEYOND Paras P. Dhamecha, Founder & Managing Director – Empire Aviation Group

Introduction

he editorial staff of MEA Business are committed to reporting the positive business developments in the Middle East and Africa, as well as highlighting the business opportunities that already exist in the two regions. We also want to provide a platform for business leaders to share ideas, engage in constructive debates and form strategic partnerships. Our ultimate aim is to equip business leaders and professionals with the practical and tactical skills to thrive in the Middle East and Africa. With an emphasis on positive news stories, case studies and inspirational interviews, MEA business will inspire readers towards personal development and overall business success. The magazine is arranged to provide clear and concise informative sections including news sections on the Middle East and Africa, CEO interviews and market updates. The magazine and news service we offer are available on a variety of platforms, these include our printed magazine, e-magazine, website, and social media. Furthermore, we include augmented reality elements in some of our features to provide our readers with unparalleled coverage on the latest developments.

Kenneth Mitchen

Publisher, MEA Business

Interactive Cover

CONTENTS

MIDDLE EAST NEWS 6 HH Sheikh Ahmed Bin Saeed Al Maktoum: Dubai Airshow 2021 is set to be bigger and better than the 2019 event 8 Gulfstream Aerospace Appoints Empire Aviation Group As International Sales Representative For India 9 Cisco warns of a hacking campaign targeting the aviation industry 10 Emirates Airlines to launch daily service to Tel Aviv from 6 December 2021 AFRICA NEWS 11 National Aviation Services (NAS) Strengthens Presence in Africa through Strategic Partnership with Siginon Aviation in Kenya ANALYSIS 12 Air cargo, up 9.1% in September, however capacity remains constrained

16 MEA Business WEB: www.mea-biz.com EMAIL: info@cme-media.com PUBLISHED BY: Creative Middle East Media FZ LLE, 19th Floor, Creative Tower, Fujairah Creative City, PO Box 4422, Fujairah, UAE EXECUTIVE DIRECTOR AND PUBLISHER : Kenneth Mitchen Email: ken.mitchen@mea-finance.com

APPOINTMENTS 14 Inmarsat announces Philippe Carette as president of its aviation business unit COVER STORY 16 Empire Aviation delivering private aviation service excellence in the UAE

AVIATION ANNUAL GALA EVENING 2021 22 The Aviation Annual Gala Evening Is Back EXPO 2020 24 Emirates renews its commitment to Seychelles at Expo 2020 26 The Swiss Pavilion successfully concludes Space Week events at Expo 2020 Dubai DUBAI AIRSHOW 2021 28 Dubai Airshow 2021 to reflect Dubai’s role in driving the recovery of the aviation industry AIRPORTS 32 Etihad airways announces move to Moscow’s Sheremetyevo international airport

AIRPORT NEWS 34 Sharjah Airport Authority adopts new systems to improve operational efficiency BUSINESS AVIATION 36 Dubai South VIP Terminal records over 346% increase in privatejet movements in H1 202 OPINION PIECES 38 The path from COP26 - Facilitating the Transaction 40 Middle East Banks Double Down On Digital Customers Experience Post-Pandemic SUSTAINBILITY 42 Etihad raises US$1.2bln in first sustainability-linked ESG Loan in Global Aviation

AIR CARGO & LOGISTICS 44 Aramex inaugurates new express handling facility at Riyadh airport 45 FedEx Express, Dubai South sign agreement to establish new regional air hub 46 World supply chain woes to ease early 2022 48 One-off gains boost net profit of Dubai’s Aramex in third quarter. LIFESTYLE 49 Gold crystal: alchemist Hublot creates magic

Middle East News

HH Sheikh Ahmed Bin Saeed Al Maktoum: Dubai Airshow 2021 is set to be bigger and better than the 2019 event His Highness Sheikh Ahmed Bin Saeed Al Maktoum led a press conference ahead of Dubai Airshow 2021 highlighting it as one of the most important events of the year

Dubai, United Arab Emirates: His Highness Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group emphasized the importance of Dubai Airshow 2021 during a press conference held in Dubai today. H.H. Sheikh Ahmed described the event as an opportunity to reconnect the aviation, aerospace, space and defence industries. H.H said: “Based on the number of new participant countries and exhibitors added this year, Dubai Airshow 2021 is set to be bigger and better than the 2019 event. The event will showcase the critical role that aviation, aerospace, space and defence continue to play at a global level. By welcoming international leaders and experts from across the globe, we are paving the way for new partnerships that will drive recovery and future growth. Dubai Airshow this year will be futuristic, modern, forward-looking, and creative. It will showcase the future of mobility, space exploration and defence as well as AI, digital transformation and more. We are excited to welcome industry friends, colleagues and newcomers from across the planet to Dubai. “Dubai Airshow 2021 is a testament to the UAE and Dubai’s response to the pandemic, a pragmatic response that focused on protecting the health and well-being of the people as a top priority while minimising the impact of the crisis on the nation’s economy. We are once again hosting

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important in-person events and returning to business normality thanks to the success of our approach and readiness,” H.H. Sheikh Ahmed added.

tions and competitions, Dubai Airshow is helping to actively encourage bright minds to bring new ideas and creativity to the industry.

This year, Dubai Airshow will have a major focus on new technologies where exhibitors will be showcasing the latest innovation and state-of-the-art solutions. The brand new conference stage, Tech Xplore, will highlight how emerging technologies are helping reboot aviation and changing the entire flying experience. There will be new conferences focusing on trending aerospace topics like advanced aerial mobility, sustainability, and space, air traffic and cargo. The role of start-ups and entrepreneurs within the sector will also be center stage, with the new East-West startup hub VISTA. Through new activa-

To be held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai and UAE Minister of Defence, Dubai Airshow 2021 will take place at Dubai World Central (DWC), Dubai Airshow Site from the 14-18 November 2021. The global aerospace event will be held with the support of the Dubai Civil Aviation Authority, Dubai Airports, the UAE Ministry of Defence and Dubai Aviation Engineering Projects, and organised by Tarsus Middle East.

F rom Left To Right - He Mohammed Abdulla Ahli - Hh Sheikh Ahmed Bin Saeed Al Maktoum - He Khalifa Zaffin.

Business News for the MEA region

Middle East News

Gulfstream Aerospace Appoints Empire Aviation Group As International Sales Representative For India Under the agreement, Empire Aviation Group will be responsible for promoting and supporting Gulfstream with customers and prospects throughout India.

ulfstream Aerospace Corp. has appointed Empire Aviation Group — the Dubai, United Arab Emirates-based integrated private aviation specialist — as the authorized International Sales Representative (ISR) for Gulfstream business aircraft sales activities in India. Under the agreement, Empire Aviation Group will be responsible for promoting and supporting Gulfstream with customers and prospects throughout India. The company has provided aircraft sales, aircraft management and charter management services to private aircraft owners worldwide, including India and the UAE, since launching in 2007. “As interest in the Gulfstream family of aircraft grows throughout India, we wanted to ensure we have local representation that not only possesses significant experience dealing with Gulfstream aircraft, but can also deliver a personal approach befitting the No. 1 brand in business aviation,” said Scott Neal, senior vice president of worldwide sales, Gulfstream. “Empire Aviation Group will provide Gulfstream with both as we continue to expand our presence in this important market.” “Empire Aviation is honored to have been selected by Gulfstream,” added Paras P. Dhamecha, Founder and Managing Director of Empire Aviation Group. “Gulfstream offers the pinnacle of

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advanced business jet design, manufacturing and customer support to represent its interests in India. We have been doing business in India since our inception and we continue to be very optimistic about the unique opportunities for private aviation in the subcontinent.” Empire Aviation Group provides all the major services associated with private aviation — aircraft management, flight operations and charter, as well as aircraft sales and Continuing Airworthiness Management Organization (CAMO). The

aras P. Dhamecha, Founder P and Managing Director at Empire Aviation Group & Nicolas Robinson Regional Vice President - Middle East & South Asia at Gulfstream Aerospace

Business News for the MEA region

company integrates services and combines them with the aviation expertise and experience of the team to provide a high degree of personalized services. The company manages private jet aircraft on behalf of owners, and Empire Aviation’s asset management approach means that each aircraft owner has a unique business model and services. Empire Aviation is also a charter broker and can arrange aircraft charter anywhere in the world for business or leisure. “There’s a growing interest in aircraft acquisition and we are already working on prospective transactions in India, where we act as a trusted adviser to owners and potential buyers with a highly personalized approach,” said Dhamecha. “We will use our local presence, customer reach, experience and expertise to support Gulfstream’s success in India.”

EMPIRE AVIATION IS HONORED TO HAVE BEEN SELECTED BY GULFSTREAM

Middle East News

Cisco warns of a hacking campaign targeting the aviation industry Cisco detected a targeted phishing campaign aimed at the aviation industry for two years

isco detected a targeted phishing campaign aimed at the aviation industry for two years, which was potentially organized by cyber threat actor(s) operating out of Nigeria. The actor(s) have been targeting the aviation industry for the last two years, while managing other campaigns at the same time. Researchers found that they do not seem to be technically sophisticated as they’re using off-the-shelf malware since the beginning of their activities without developing their own malware. The operators also bought crypters that enable the usage of such malware without being detected. Throughout the years they used several different cryptors, mostly bought on online forums and are

believed to have been active since 2013. The cyber attacks involve emails containing specific lure documents centered around the aviation or cargo industry that purport to be PDF files but link to a VBScript file, which ultimately leads to the delivery of remote access trojans (RATs), leaving organizations vulnerable to an array of security risks. Actors that perform smaller incidents can keep doing them for a long period of time under the radar. However, their activities can lead to major incidents at large organizations. These are the operators that feed the underground market of credentials and cookies, which can then be used by larger groups on activities. Commenting on the targeted attacks, Fady Younes, Cybersecurity Director at

Cisco Middle East and Africa said: “Many operators can have limited technical knowledge but still be able to operate RATs or information-stealers - posing a significant risk to large corporations given the right conditions. In this case, what appeared to be a simple campaign was, in fact, a continuous operation that has been active for years - targeting a whole industry with commodity malware hidden with different crypters.” “Even though cybersecurity is not a threat specific to aviation, in the last few years the sector has been at the forefront of several cyber attacks. It is crucial to be careful with weak links that could lead to flawed conclusions. The weak links shouldn’t be discarded — it would be wise to view them as one more piece of information that, together with other links, can yield to a much stronger relationship between two pieces of information,” Younes added.

F ady Younes, Cybersecurity Director - Cisco Middle East and Africa

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Middle East News

Emirates Airlines to launch daily service to Tel Aviv from 6 December 2021 Airline looking forward to welcoming more business and leisure travelers from Israel to Dubai.

ubai’s flagship carrier Emirates plans to launch daily direct flights to Tel Aviv, Israel, from December 6,

2021.

The airline will deploy the Boeing 777300ER aircraft in three class configurations. Daily flights are scheduled to depart Dubai at 2:50pm, arriving at Ben Gurion Airport at 4:25pm local time. The return flight EK 932 will depart Tel Aviv at 6:25pm, arriving in Dubai at 11:25pm local time. Emirates’ customers will also benefit from the airline’s codeshare partnership with flydubai. In addition, Emirates SkyCargo will offer 20 tonnes of cargo capacity each way between Dubai and Tel Aviv to support exports of pharmaceuticals, high-tech goods, vegetables and other perishables from Tel Aviv. The flights are also expected to transport manufacturing raw materials and components, semiconductors and e-commerce parcels into Israel. “With the start of services in just a few weeks, Emirates will provide more options for travellers to fly better to and from Tel Aviv via Dubai. We also look forward to welcoming more business and leisure travelers from Israel to Dubai, and onwards to other destinations on Emirates’ network,” said Adnan Kazim, chief commercial officer, Emirates airline. “We would like to thank the UAE and Israeli authorities for their support, 10

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A dnan Kazim, chief commercial officer, Emirates airline

and we await the opportunity to serve Israel and open up more prospects for both countries to continue to build a strong relationship while growing business and expanding tourism in the near future,” he added. The move comes as the UAE and Israel continue to develop greater economic cooperation to drive growth across a range of sectors, in addition to boosting trade flows between both nations.

Business News for the MEA region

WE AWAIT THE OPPORTUNITY TO SERVE ISRAEL AND OPEN UP MORE PROSPECTS FOR BOTH COUNTRIES

News Africa

National Aviation Services (NAS) Strengthens Presence in Africa through Strategic Partnership with Siginon Aviation in Kenya Strengthening ground handling, ramp handling and cargo handling capabilities in the region, especially in East Africa.

ational Aviation Services (NAS), the fastest growing aviation provider in the emerging markets, has signed a strategic partnership agreement with Kenya’s Siginon Aviation Ltd. to acquire a 51% stake in Siginon Aviation Ltd. Siginon Aviation, a subsidiary of Siginon Group Ltd. provides complete airport ground handling and cargo management services. Commenting on the latest partnership, Hassan El-Houry, Group CEO of NAS said, “During the pandemic, our cargo services came to the forefront by keeping crucial supply chains flowing uninterrupted. With the ongoing vaccine requirements around the world, we also handled almost a million doses of the Covid-19 vaccine at different African airports. With this growing demand, we expanded our focus on cargo management in Africa and the partnership with Siginon Aviation is indeed timely.” A combination of NAS’s global presence and expertise in airport services with Siginon Aviation’s experience in Kenya will successfully strengthen the ground handling, ramp handling and cargo handling capabilities in the region, especially in East Africa. Meshack Kipturgo, Siginon Group’s Managing Director added, “We foresee great promise for business and growth for both, our staff and our customers through service delivery - now and into the future. This partnership is a true reflection of our mutual ambition to make a positive mark in service excellence, extend our footprint in Kenya and beyond as we jointly tap onto the opportunities present in the cargo and aviation sector.” In the last decade, Siginon Aviation has

IN 2018, WE COMMITTED TO INVESTING $50 MILLION INTO THE AFRICAN AVIATION SECTOR OVER A PERIOD OF THREE YEARS. enhanced its ground handling capacity with several upgrades including relaunching its operations in a state-of-the-art air cargo terminal and acquisition of ramp equipment to boost its operations in JKIA, Nairobi. This has seen the company receive several industry certifications and accolades including ISAGO, RA3, and ISO9001: 2015 as well as awards for excellence in business, leadership, customer focus, marketing, HR development and cargo. Through this partnership, NAS has expanded its presence in Africa with two airports in Kenya – Nairobi and Eldoret. This adds to NAS’s growing network in Africa and strengthens its presence as the largest ground handler in the region. In the last year despite the challenges posed by the Covid crisis, NAS successfully launched operations in 14 airports across South Africa, DRC, Guinea Bissau and Zambia. El-Houry also highlighted “In 2018, we committed to investing $50 million into the African aviation sector over a period of three years. With the pandemic, the global aviation industry suffered a major slowdown and NAS experienced an 85% drop in revenue. Despite the challenges, we remained focused on our commitment to

H assan El-Houry, Group CEO of NAS

the sector and thrived during a very difficult period. This is greatly because of the exceptional goodwill we built with all our stakeholders – our employees, customers, partners and governments, all mutually supporting each other during this difficult time.” With its expansion, NAS remains committed to both existing as well as new operations. Present in over 55 airports across Africa, the Middle East and South Asia, NAS invests into facilities and infrastructure, equipment, technology, recruitment, and training of staff. NAS is also dedicated to advancing local knowledge and skills of while offering more employment opportunities and career options. NAS provides ground-handling services to over 100 airlines globally, manages more than 50 airport lounges across its network and offers an extended portfolio of services that includes innovative technology solutions and training. mea-biz.com

Analysis

Air cargo, up 9.1% in September, however capacity remains constrained IATA research shows that global demand for air cargo continued to be well above pre-crisis levels

he International Air Transport Association (IATA) released September 2021 data for global air cargo markets showing that demand continued to be well above pre-crisis levels and that capacity constraints persist. Global demand, measured in cargo tonne-kilometers (CTKs*), was up 9.1% compared to September 2019 (9.4% for international operations). “Air cargo demand grew 9.1% in September compared to pre-COVID levels. There is a benefit from supply chain congestion as manufacturers turn to air transport for speed. But severe capacity constraints continue to limit the ability of air cargo to absorb extra demand. If not addressed, bottlenecks in the supply chain will slow the economic recovery from COVID-19. Governments must act to relieve pressure on global supply chains and improve their overall resilience,” said Willie Walsh, IATA’s Director General. September Regional Performance Asia-Pacific airlines saw their international air cargo volumes increase 4.5% in September 2021 compared to the same month in 2019.This was a slowdown in demand compared to the previous month’s 5.1% expansion. Demand is being affected by slowing manufacturing activity in China. International capacity is significantly constrained in the region, down 18.2% vs. September 2019. Looking forward, the decision by some countries in the region to lift travel restrictions should provide a boost for capacity. North American carriers posted a 19.3% increase in international cargo volumes in September 2021 compared to September 2019. New export orders and

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GOVERNMENTS MUST ACT TO RELIEVE PRESSURE ON GLOBAL SUPPLY CHAINS AND IMPROVE THEIR OVERALL RESILIENCE demand for faster shipping times are underpinning the North American performance. International capacity was down 4.0% compared to September 2019, a slight improvement from the previous month. European carriers saw a 5.3% increase in international cargo volumes in September 2021 compared to the same month in 2019. This was on a par with August’s performance (5.6%). Demand was strongest on the large North Atlantic trade lane (up 6.9% vs September 2019). Performance on other routes was weaker. Manufacturing activity, orders and long supplier delivery times remain favorable to air cargo demand. International capacity was down 13.5% on September 2019. Middle Eastern carriers experienced a 17.6% rise in international cargo volumes in September 2021 versus September 2019, an improvement compared to the previous month (14.7%). International capacity was down 4% compared to September 2019.

Business News for the MEA region

W illie Walsh, Director General, IATA

Latin American carriers reported a decline of 17.1% in international cargo volumes in September compared to the 2019 period, which was the weakest performance of all regions. This was also slightly worse than the previous month (a 14.5% fall). Capacity in September was down 20.9% on pre-crisis levels, an improvement from August, which was down 24.2% on the same month in 2019. African airlines’ saw international cargo volumes increase by 34.6% in September, the largest increase of all regions for the ninth consecutive month. Seasonally adjusted volumes are now 20% above pre-crisis 2019 levels but have been trending sideways for the past six months. International capacity was 6.9% higher than pre-crisis levels, the only region in positive territory, albeit on small volumes.

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Appointments

Inmarsat announces Philippe Carette as president of its aviation business unit Philippe joins Inmarsat from Thales, where he held several roles since joining the company in 2013

Inmarsat recently announced that Philippe Carette will be joining the company as President of its Aviation Business Unit on 22 November 2021.

Philippe joins Inmarsat from Thales, where he held several roles since joining the company in 2013. This includes the position of CEO of Thales’ InFlyt Experience Business Line (IFE), where he led a digital transformation of the business, leveraging cloud based disruptive applications and achieving a significant increase in customer satisfaction. Philippe has over 30 years’ experience in the technology & aerospace industries, which in addition to his tenure at Thales includes 14 years with the Safran Group, a major French aerospace engineering company.

Philip Balaam, currently business unit President for aviation, is moving into a new strategy role at Inmarsat, where he will be working with Chief Strategy Officer (CSO) Fredrik Gustavsson to reinforce the company’s growing, broad-based commercial momentum. “I am very pleased to welcome Philippe Carette as president of our aviation business at the start of a new era of growth across our aviation business lines, and throughout the company as a whole”, said Rajeev Suri, CEO of Inmarsat. “He brings a wealth of experience and I look forward to working with him as a member of Inmarsat’s executive team as we extend our technology leadership and significantly enhance the services we offer to our partners and customers through

new initiatives such as ORCHESTRA and ELERA. His 30 plus years of experience in aviation, technology and aerospace will be invaluable.

P hilippe Carette, joining Inmarsat on 22 November 2021

Ras Al Khaimah International Airport appoints new CEO to drive ambitious expansion strategy Atanasios Titonis appointed as new CEO of Ras Al Khaimah International Airport

as Al Khaimah International Airport (RAK Airport) recently announced the appointment of Atanasios Titonis as its Chief Executive

Officer.

With more than two decades of experience working across several aviation sectors covering airlines, tour operators, ground handlers and airports in both Europe and the Middle East, Atanasios brings with him an in-depth and well-rounded understanding of the industry and extensive knowledge of building up and developing an airport business. Commenting on Atanasios’ appointment, H.E. Engr. Salem Sultan Al-Qasimi,

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Chairman of the Department of Civil Aviation and Ras Al Khaimah International Airport, board member of General Civil Aviation Authority & RAK Executive Council, said: “Ras Al Khaimah International Airport is currently undergoing its biggest expansion strategy since it was established in 1976. With in-depth knowledge and expertise working across multiple facets of the aviation industry, Atanasios will play a vital role in navigating this crucial phase and driving the airport’s continued development. He will also be pivotal in building further strategic partnerships to open up the Emirate to key markets and drive its growth as one of the most dynamic tourist destinations.”

Business News for the MEA region

A tanasios Titonis, Chief Executive

Officer, Ras Al Khaimah International

We are reducing our environmental footprint Considering the continued growth of the aviation industry and related carbon emissions, our sector needs to become more sustainable. So as KLM, we are taking responsibility for making our business more sustainable. How? By flying on sustainable fuel, with more efficient routing, with cleaner planes and by recycling our waste. Learn more about our journey to more sustainable aviation on klm.com/flyresponsibly

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Delivering private aviation service excellence in the UAE Empire Aviation Group - Dubai, India, Nigeria, USA, San Marino, Egypt and Indonesia 16

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Business News for the MEA region

Paras P. Dhamecha, Founder & Managing Director Empire Aviation Group

here is simply no substitute for experience in the world of private aviation, where the technical expertise to manage and operate a business jet is critical to providing owners with the benefits of the ultimate luxury – the freedom of your own private jet. Dubai-based Empire Aviation Group operates a managed fleet of 22 aircraft with business jets from major global manufacturers. The company supports aircraft owners by providing them with a one-stop-shop approach to managing and operating their aircraft. Today, Empire operates in every continent, introducing innovative business aviation services to customers. Since its launch, Empire

Aviation has inducted over 70 aircraft into the fleet, including business jets, helicopters, seaplanes, air ambulances and super-sized corporate jets. A private jet is arguably one of life’s ultimate luxuries – as well as a convenient business tool. It offers the pleasures of freedom and privacy to companies and individuals. It’s much more than simply buying and flying – it’s a high-value asset that demands a complete and transparent financial model of aircraft ownership and management. Investing in and owning sophisticated aviation technology means a trusted adviser as a guide is essential. The art of aircraft management Managing and operating an aircraft

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Cover Story (Partner Content) market and comprise aircraft of different types and cabin configurations. Empire has seen high double-digit growth both in sales and charter, since global travel shifted focus to private travel, in part due to the perception of safer travel spaces. Working in partnership with some of the world’s leading providers of luxury travel services and experiences, Empire Aviation and its partners can combine end-to-end luxury and privacy on the ground and at the destination.

demands the skills to ensure the aircraft asset has continuous professional care to protect its value. Private aviation is a world that you can only navigate safely and confidently with a trusted partner. “Successful aircraft owner-manager relationships are built on trust, openness and transparency,” says Paras P. Dhamecha, Founder and Managing Director at Empire Aviation Group. “Since 2007, we have been working diligently to earn the confidence of owners as we manage and operate these valuable assets on their behalf, ensuring that they enjoy the privacy, safety, comfort and convenience of private aviation.” Empire Aviation manages a diverse portfolio of aircraft operating from the UAE, India, Africa and Indonesia and a dedicated aircraft sales operation in the US. Critically, the company continues to benefit from the UAE’s position as an international aviation hub with worldclass infrastructure and facilities for private aircraft and charter passengers, providing a base for global expansion. Today, the company operates one of the Middle East’s largest managed fleets of business jets, with aircraft based in international locations. In addition to its headquarters in Dubai, Empire also established branch offices in India and San Marino and aircraft sales representatives based in the US,

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supporting its operations into several key regions for private aviation. The company holds AOCs (Air Operator Certificates) in the UAE and San Marino, an NSOP in India, and private operations approved in the Cayman Islands. Asset management approach Empire Aviation Group has a highly personalised approach to aircraft asset management, supporting owners with a unique business model. Empire Aviation can provide owners with flexible options when deciding where to base their aircraft, with a choice of three aircraft registries in the UAE, San Marino and India, and private registries including Cayman Islands and Isle of Man and a sales office in the USA. Empire Aviation completes CAMO approvals for all of the aircraft on their management fleet. The team provides all the major services associated with private aviation – aircraft management, flight operations and charter, and aircraft sales and CAMO. It’s the integration of these comprehensive services and the team’s expertise that enables Empire Aviation to provide a high degree of personalised services. The group continues to scale the model globally to create greater access to private aviation services worldwide. Several of the managed private jets on the fleet are available to the charter

Business News for the MEA region

The company has a clear focus on aircraft sales and acquisitions as global demand for business jets increases, driven by the current international travel restrictions and the growing appreciation of the privacy, freedom and controlled environment offered by private aviation. Demand continues to outstrip the supply of high-quality aircraft. Still, Empire Aviation has several transactions in the pipeline and was recently involved in a Gulfstream acquisition for an owner based in India, joining the company’s fleet aircraft available to the charter market.

India – a private aviation opportunity India is developing into a significant part of Empire Aviation’s charter business and aircraft acquisitions. The team is currently working on several transactions for aircraft to join the managed fleet. India is a growing and important market for General and Business Aviation services. Since its launch, Empire Aviation has provided aircraft sales, aircraft management, and charter management services to private aircraft owners worldwide, including India. Most recently, the company was appointed by Gulfstream Aerospace Corporation (Gulfstream – one of the world’s leading business aircraft manufacturers) as the authorised Independent Sales Representative (ISR) for India. Under this agreement, Empire Aviation Group will be responsible for promoting and supporting Gulfstream business jet transactions. Empire Aviation is very optimistic about the prospects for business aviation in this market as more companies expand their operations domestically and internationally. It believes it can help fill a

gap and meet the demand for professional aircraft management services for aircraft owners and customers in managing all aspects of their aviation assets so they can enjoy all the benefits associated with

owning an aircraft. As Paras Dhamecha says: “India represents a significant part of our charter business at the moment, as we fly Indian businesspeople to – literally everywhere in the world, within current restrictions. Beyond charter, there’s a growing interest in aircraft acquisition and we are currently working on several transactions with clients who are either selling to replace aircraft or buying new planes. “ Experience and expertise The entire team is dedicated to supporting aircraft owners with a very high degree of personalised services as part of the asset management approach. Empire expands its operations with new aircraft coming onto the managed fleet. It has also enhanced the aircraft ownership experience by adding new service offerings. The successful and award-winning aircraft management service has been built on close personal working relationships with owners to develop a high degree of personal trust, openness and transparency. The team builds this trust and manages expectations by looking after every operational and maintenance detail of their aircraft. This

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Image: Courtesy of Soneva Fushi

includes negotiating all contract services with supplier companies and tracking all costs to ensure owners are receiving the best deals with open books at all times. When it comes to aircraft sales, Empire’s capabilities and experience extend to global markets. The role as an aircraft management company differentiates the approach from traditional brokers – the team knows which aircraft sell and how to maximise residual values. The ability to draw together all the strands of private aviation – sales, management, operations, and charter – enables the team to make private aviation a great experience for owners and charter guests. Empire Aviation’s Continuing Airworthiness Management Organization (CAMO) certification is central to aircraft management services and has been launched as a stand-alone offer for third party aircraft owners and operators through which the group takes responsibility for the quality management, auditing and records

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of each aircraft. CAMO is awarded by various aviation regulatory authorities (including San Marino, Cayman Islands, United Arab Emirates, Isle of Man and India) to aircraft management companies responsible for managing aircraft maintenance and keeping them airworthy. In 2016, Empire’s Indian Affiliated partners EAMSPL opened a dedicated CAMO and Compliance facility in India, which it operates from a sub-branch at the Aerocity in Delhi. The company also has a corporate office located in Bangalore. Leading innovation Empire Aviation is always looking to innovate and improve services and operations. Through the Covid-19 crisis, the team has been looking at potential opportunities such as expanding the markets in which it operates and enhancing product and service offerings. The group swiftly implemented various systems throughout the Covid-19 pandemic to ensure a safe environment

Business News for the MEA region

for all customers and employees. It also invested in new aviation management software covering flight operations and charter functions. A new ‘Luxury Partner’ programme designed to combine the unique benefits of private jet travel with awardwinning luxury travel partners, was launched in response to the growing demand from affluent leisure travellers for highly personalised private travel services and associated luxury leisure experiences. The first Luxury Partners include companies focusing on the luxury resorts of the Indian Ocean and Thailand - favourites among private jet charter clients - Soneva, Lily Hotels’ Hideaway Beach Maldives, Private Plan, and Raffles Seychelles. From the outset, changing the regional market’s view of the business jet (from a luxury to a business tool) has been a core aim of Empire Aviation. A string of industry awards all suggests that the company is well on the way to achieving its objective.

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Aviation Annual Gala Evening 2021

THE AVIATION ANNUAL GALA EVENING IS BACK

he Aviation Annual Gala Evening (AAGE), the region’s leading invite only event for Senior Aviation will take place November 2021 (Dubai Airshow Week). The event will again take place on an exclusive megayacht berthed outside Pier 7, Dubai Marina. Guests will enjoy an amazing cruise along Dubai’s shoreline, with captivating views of the famous Palm Island, the Dubai skyline and Iconic buildings such as the Burj Al Arab. Guests will also be entertained throughout the evening by a live band and special entertainment. The Aviation Innovation Awards which also take place during the Gala Evening will recognize some of the region’s most outstanding aviation individuals and organizations. The awards will honor exceptional technological, operational and sustainability innovations. The Gala Evening and Awards should have a wide variety of leaders from the Middle East and around the world who will be in town during the Dubai Airshow. For more information on the event visit www. aviationgala.com or email Ken@cme-media. com

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Expo 2020

Emirates renews its commitment to Seychelles at Expo 2020 The airline has signed a MoU with the Seychelles Tourism Board, reaffirming its support to the island-nation

mirates has signed a Memorandum of Understanding (MoU) with the Seychelles Tourism Board at Expo 2020. The agreement reaffirms the airline’s commitment to the island-nation and outlines joint initiatives to promote trade and tourism to the country. The Memorandum of Understanding was signed by Ahmed Khoory, Emirates’ SVP Commercial West Asia & Indian Ocean, and Sherin Francis, Principal Secretary Tourism Department, Tourism Seychelles. The agreement was signed in the presence of H.E. Mr Sylvestre Radegonde, Minister for Foreign Affairs & Tourism and Adnan Kazim, Emirates’ Chief Commercial Officer. The ceremony was also attended by Emirates executives: Orhan Abbas, SVP Commercial Operations Far East; Abdulla Al Olama, Regional Manager Commercial Operations Far East, West Asia & Indian Ocean; Oomar Ramtoola, Manager Indian Ocean Islands; Silvy Sebastian, Business Analysis Manager West Asia & Indian Ocean; and executives of Tourism Seychelles: Bernadette Willemin, Director General Destination Marketing Tourism Seychelles; and Noor Al Geziry, Tourism Seychelles Middle East Office. Ahmed Khoory, SVP Commercial West Asia & Indian Ocean at Emirates, said: “Emirates has shared strong ties with Seychelles since 2005 and the island nation remains a very important market for us. The agreement signed today is a strong testament to our commitment and support to the island-nation. We thank our partners for their ongoing support and we look forward to continue growing our successful partnership.” H.E. Mr Sylvestre Radegonde, Minister for Foreign Affairs & Tourism, said: “Emirates airline has been constant and steadfast with their support towards Seychelles and we are indeed grateful for that. Therefore, we would

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like to express our support for the coming year with the hope that it will be a better year for both Seychelles and the airline.” The agreement outlines mutually beneficial activities to boost trade and tourism to the country, including trade shows, trade familiarisation trips, exhibitions, and workshops. Emirates launched operations to Seychelles in 2005 and the airline currently operates daily flights to the island-nation, utilising its wide-body Boeing 777-300ER aircraft. Emirates was the first international airline to resume passenger services to Seychelles in August 2020, coinciding with the country’s re-opening to international tourists. Since January 2021, Emirates has carried close to 43,500 passengers to the island-nation, from more than 90 destinations, including top markets, United Arab Emirates, Germany, France, Poland, Switzerland, Austria, Spain, Russia, Belgium and the United States of America. Emirates has safely restarted operations to more than 120 destinations within its global

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A dnan Kazim, Emirates’ Chief Commercial Officer presents an Emirates A380 aircraft model to H.E. Mr Sylvestre Radegonde, Minister for Foreign Affairs & Tourism network, via Dubai. The airline has led the industry with its innovative products and services, including a comprehensive set of health and safety measures at every step of the journey, contactless technology at Dubai Airport, generous and flexible booking policies, and an industry-first multi-risk insurance cover.

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Expo 2020

The Swiss Pavilion successfully concludes Space Week events at Expo 2020 Dubai Bringing together Space experts from Switzerland and the World

he Swiss Pavilion attracted hundreds of visitors and space enthusiasts during the Space Week events conducted in the Swiss Pavilion at Expo 2020 Dubai. During this important week, Space experts from around the world gathered to discuss sustainable space logistics, radio astronomy, the management of space debris and educational programs for outreach amongst young people.

One of our participants, Prof. Claude Nicollier, Former and the First Swiss Astronaut, said: “It is a great pleasure for me to participate in the Space Week organized by the Swiss Pavilion and to meet other experts from around the world. It is indeed a great opportunity to highlight the Swiss achievements in the field of Space that we consider a source for inspiration, for knowledge, and for a better world tomorrow.”

what drives astronauts to space missions while giving glimpses of their personal experiences.

Prof. Jean-Paul Kneib from EPFL discussed Sustainable Space Logistics and presented their Space Sustainability Rating, a critical subject in the context of the space industry evolving towards a predominantly commercial operation. The talk was attended by a highlevel delegation from India involved in the space sector.

A joint workshop conducted by Ms. Emmanuelle David, EPFL eSpace, Ms. Chloé Carrière, Space@ yourService and Dr. Aquib Moin of the UAE University, and in collaboration with the UAE University outlined the road to youth empowerment: space science, outreach & sustainability to students.

A guest lecture by Prof. Nicollier and Ms. Naoko Yamazaki, former JAXA astronaut, in collaboration with the Japanese Pavilion and the UAE University presented an inspiring perspective on

On the issue of rising space debris, Mr. Luc Piguet, ClearSpace, Prof. Moriba Jah, University of Texas at Austin and Prof. Thomas Schildknecht, University of Bern conducted a panel discussion under the subject - Space Debris: Knowledge creation & Problem solving. The session

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CMY

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was attended by a high level delegation of the Brazilian space agency. The Space week was organized in collaboration with Swissnex, the global network connecting Switzerland and the world in education, research, and innovation, EPFL Space Centre (eSpace), ClearSpace, Space@yourService, UAE University, the Australian, Japanese and

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Dubai Airshow 2021

Dubai Airshow 2021 to reflect Dubai’s role in driving the recovery of the aviation industry 28

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Business News for the MEA region

he Dubai Airshow 2021, set to take place from 14-18 November 2021, serves as a key indicator of Dubai’s success in overcoming the challenges that the pandemic has posed, and moving in the right direction towards achieving a full recovery of the aviation industry. Commenting on the progress that Dubai’s aviation sector has made following the pandemic, His Highness Sheikh Ahmed Bin Saeed Al Maktoum,

President of Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group said: “We have crossed many significant milestones this year despite the difficult period. Dubai has been a symbol of resilience and agility in responding to the challenges that the pandemic brought, and we are confident that the collaborative work done by the sector’s key players to restore consumer confidence and boost travel operations will pave the way for a thriving aviation industry. Dubai Airshow 2021 will serve as the ultimate testament to the industry’s steady recovery and growth and firmly establish Dubai as the leading global aerospace hub.” Major Gen. Staff Pilot Ishaq Saleh Al Baloushi, Military Advisor to State Minister of Defence and Executive Director for Military Committee for Dubai Airshow: “For many years we have been collaborating and working closely

TAKING CENTRE STAGE WILL BE DIFFERENT AND ACCELERATE EFFICIENCY. THIS WILL PLAY A KEY ROLE IN AVIATION, AEROSPACE AND DEFENCE INDUSTRIES

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with different defence delegations from across the world for the Dubai Airshow. This engagement has continued virtually throughout the pandemic, and we are now planning on having in-person meetings and sessions at the Airshow itself. With the positive sentiment within the industry and the appetite for business continuity, we believe the Airshow will provide the ideal event for strategic development and the creation of new partnerships. Taking centre stage will be the different technologies that enhance safety and accelerate efficiency. They will play a key role in the aviation, aerospace and defence industries getting back to business following the pandemic. A great experience awaits the industry as they once again gear up to network, discuss the future of the industry and do business at the Dubai Airshow. There will be a high number of attendees from the defence industry at the Airshow and we are very much looking forward to meeting them during the event.” The UAE recently started opening quarantine-free travel corridors with multi-

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ple countries across the world, which counts as a major step for bringing a higher influx of travellers and tourists. In addition, Dubai Airports recently re-opened Dubai International’s (DXB) Terminal 1, following a 15-month closure, as part of its plan to ensure the airport’s full operational readiness. DXB is targeting 28 million passengers in 2021. To be held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, Ruler of Dubai and UAE Minister of Defence, Dubai Airshow 2021 will take place at Dubai World Central (DWC), Dubai Airshow Site from the 14-18 November 2021. Dubai Airshow 2021 will be held with the support of the Dubai Civil Aviation Authority, Dubai Airports, the UAE Ministry of Defence and Dubai Aviation Engineering Projects, and organised by Tarsus Middle East. The highly anticipated event will provide a platform where international aerospace and defence entities can gather and convene to drive the recovery of the global aviation and aerospace industry.

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Airports

Etihad airways announces move to Moscow’s Sheremetyevo international airport Airline is dedicated to strengthening social and economic ties between the UAE and Russia, following the removal of Covid-19 flight restrictions

ffective 2 December 2021, Etihad Airways, the national airline of the United Arab Emirates, will transfer all Russian operations to the new state-of-the-art International Terminal C at Moscow Sheremetyevo Alexander S. Pushkin International Airport (SVO). The first departure to SVO will take place on the 13th anniversary of Etihad’s first direct service to Moscow in December 2008. The move to SVO will be enhanced by daily Etihad services between Abu Dhabi and Moscow. Flights depart Abu Dhabi at 9.35am each day, with the return service departing Moscow at 3.50 pm. Etihad’s service changes will be complemented by the launch of a broader partnership with Russia’s national airline group, Aeroflot - Russian Airlines (Aeroflot). Aeroflot will launch its first ever services to Abu Dhabi, the UAE capital, three times weekly from 13 November. In conjunction with both carriers operating between Moscow and the UAE capital, and subject to any necessary regulatory approvals, Etihad and Aeroflot have agreed to enhance their interline agreement, launch codeshare services across their respective networks, and explore other areas of cooperation to enhance guest benefits, such as frequent flyer reciprocity and premium customer handling. The carriers will also explore opportunities to cooperate in operational areas by leveraging each group’s capabilities and strengths. Alex Featherstone, Vice President Network Planning and Alliances, Etihad Airways, said: “We are proud to announce Etihad will be moving to Moscow’s Sheremetyevo International Airport, and broadening our relationship with the national carrier,

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Aeroflot. Since launching flights between Moscow and Abu Dhabi 13 years ago, we have experienced huge growth in Russia’s tourism and aviation markets, and enjoyed strong demand from business and leisure travellers, as well as cargo, assisted by direct services, codeshare and the Reciprocal Visa-Free Travel Agreement between the two nations implemented in February 2019. The move also further reinforces our commitment to the Russia market, and our intention to offer our Russian guests easier access to the world-class leisure attractions and events, cultural sites, hotels and resorts, beaches, and great winter weather that Abu Dhabi has to offer.” The daily flights will be operated by with a mix of widebody and narrowbody aircraft, including the technologically advanced Boeing 787 Dreamliner, featuring the airline’s innovative, award-winning cabin designs and products, complemented by its acclaimed service and hospitality.

About Moscow Sheremetyevo Alexander S. Pushkin International Airport Sheremetyevo Airport is among the top 5 airport hubs in Europe and the largest Russian airport in terms of passenger and cargo traffic. In 2020, the airport served 19.8 million passengers. The airport opened a third runway in January 2021, and today, the airport can serve up to 110 million passengers annually across its six terminals Terminal C is Russia’s most modern terminal, combining the highest level of technology and modern architecture and design in a Russian constructivist style. It is connected to domestic Terminal B under one roof, allowing transfer passengers to move between terminals through the transit area in minimal time, which allows for faster connections and baggage services.

I nternational Terminal C at Moscow Sheremetyevo Alexander S. Pushkin International Airport (SVO).

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Airport News

Sharjah Airport Authority adopts new systems to improve operational efficiency Anchored on investing in world-class infrastructure, and latest technologies on achieving digital transformation.

he Sharjah Airport Authority has started implementing the “Passenger Flow and Queue Management” system, which contributes to enhancing efficiency in daily operations in the areas of check-in, security checks, and passports; as well as the “Automated Verification of the Boarding Pass” system, which enhances security levels, speeds-up the completion of passenger procedures and increases the airport’s capacity. The “Passenger Flow and Queue Management” system is a complex mix of infrastructure, technology and procedures that include the installation of sensors and linking it with the various operational

The “Passenger Flow and Queue Management” system is a complex mix of infrastructure, technology and procedures that include the installation of sensors and linking it with the various operational systems of the airport and airlines, which will contribute to managing the airport’s resources, increasing its capacity, and improving passenger satisfaction 34

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systems of the airport and airlines, which will contribute to managing the airport’s resources, increasing its capacity, and improving passenger satisfaction. In addition to enhancing efficiency in the check-in, security and passport areas, the “Passenger Flow and Queue Management” system provides the opportunity for realtime and around-the-clock monitoring with more than 112 sensors installed in the passenger areas. The “Automated Boarding Pass Verification” system contributes significantly to enhancing security levels and speeding up the check-in of passengers, thanks to the automated verification of all types of boarding passes, including printouts or digital versions on mobile phones, through a device that reads the pass and matches them with the existing data. The service

will contribute to enhancing service levels and customer satisfaction. The application of these two systems is part of many innovative solutions implemented by Sharjah Airport Authority with the aim of providing an integrated smart environment, including smart gates, advanced infrastructure, smart application for travelers, and other technologies aimed at increasing passenger satisfaction, improving their experience through the airport, and enhancing the efficiency of the airport. Sharjah Airport Authority plans to continue investing in the latest innovations to keep pace with the developments in the aviation and transport sectors to enhance the leading position of Sharjah Airport as one of the most advanced and innovative airports not only in the region but in the rest of the world.

S harjah International Airport is an airport located 13 km east southeast of Sharjah, United Arab Emirates. It is spread over an area of 3.800 acres.

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Business Aviation

Dubai South VIP Terminal records over 346% increase in private-jet movements in H1 2021 Steep increase in aircraft movements in the first half of this year compared to the same period last year

ohammed bin Rashid Aerospace Hub, Dubai South announced that private-jet movements continued their impressive growth in 2021, with more than a 346% increase in H1 2021, reaching 8,088 compared to 1,811 in H1 2020 and 3,056 in H1 2019.

parcel of our mandate, and, thus, we will deliver what we promised”. MBRAH offers global aerospace players high-level connectivity and is a free-zone destination for the world’s leading privatejet companies and associated industries. Located in and developed by Dubai South, MBRAH is home to maintenance centres as well as to training and education campuses and seeks to strengthen engineering industries.

The top four destinations that contributed to the increase during H1 2021 were Russia, India, the Maldives and Turkey. Tahnoon Saif, CEO of Mohammed bin Rashid Aerospace Hub, said: “The booking velocity is attributed to a diverse range of factors, including the Dubai government on one hand, which has been extremely active in working with all sectors to successfully instil confidence, empower businesses and foster development. On the other hand, Dubai, given its quick recovery post-pandemic, proved to be the ideal destination for tourism, living, and, most importantly, conducting business. The continuous growth in jet movements is a testament to the farsighted leadership that ensured the emirate emerged as one of the most resilient cities in the world. Furthermore, the stringent protocols

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T ahnoon Saif, CEO of Mohammed bin Rashid Aerospace Hub

pertaining to the hygiene and safety measures that we have taken paved the way to enticing international travellers to visit Dubai.” “At MBRAH, we will spare no effort in consolidating Dubai’s position on the global travel map. We are truly dedicated to setting in place the required ecosystem for our valued passengers, leaving no room for error; their safety is part and

Business News for the MEA region

AIRCRAFT MOVEMENTS IN FIRST SIX MONTHS OF 2021 REACHES 8,088.

Rolls-Royce Pearl 700 to power new Gulfstream G800 It is the most powerful product in the Rolls-Royce business jet propulsion portfolio flying today, and the exclusive powerplant for the all-new Gulfstream G700 and Gulfstream G800

Rolls-Royce’s Pearl® 700 engines have been selected by Gulfstream to power the company’s latest ultra-long-range business jet, the G800. The engine type was purposedesigned for Gulfstream and is on track to receive its certification next year. It is the most powerful product in the RollsRoyce business jet propulsion portfolio flying today, and the exclusive powerplant for the all-new Gulfstream G700 and Gulfstream G800. With more than 3,600 business jets in service today powered by Rolls-Royce, the company is the Number one engine supplier in this market. Dr Dirk Geisinger, Director Business Aviation, Rolls-Royce, said: “Our whole business aviation team is very excited about this latest success for our marketleading Pearl engine family and I would like to congratulate Gulfstream on this special occasion. The Pearl 700 is a pioneering product, that brings together our latest technology to deliver outstanding efficiency. It is part of our commitment to reach net zero operations and has already proved its ability to run on 100% sustainable aviation fuel. We are now in the final phase of the engine certification programme and everybody at our team is fully committed to support a smooth entry into service of the Pearl 700 next year.” “Gulfstream is pleased with the performance capabilities of the Pearl 700 engine and excited to partner with Rolls-Royce for the longest-range aircraft we have produced,” said Mark Burns, president, Gulfstream. “Gulfstream and Rolls-Royce have been doing business together since the Gulfstream I, introduced more than 60 years ago, and we know our customers will greatly benefit from the performance capabilities and efficiencies

of these engines. Rolls Royce’s aftermarket support also dovetails excellently with Gulfstream Customer Support, further enhancing our customers’ ownership experience.” The Pearl 700 combines the Advance2 engine core, the most efficient core available across the business aviation sector, with a brand-new low-pressure system, resulting in an eight per cent increase in take-off thrust at 18,250lb compared to the BR725 engine. The engine offers a five per cent higher efficiency, while maintaining its class-leading low noise and emissions performance. The result is an engine that is highly efficient, but also able to propel customers nearly as fast as the speed of sound (Mach 0.925). The engine’s pioneering technology, combined with outstanding performance, supports Gulfstream’s business aircraft in reaching new standards for the top end of the ultra-long-range corporate jet market. The engine has been developed at the Rolls-Royce Centre of Excellence for Business Aviation Engines in Dahlewitz, Germany, and is currently finalising a comprehensive test and certification programme.

the Rolls-Royce services infrastructure and remote site assistance are further customer benefits. The Pearl engine family is part of the Rolls-Royce IntelligentEngine vision of a future where product and service become indistinguishable thanks to advancements in digital capability. As well as a new-generation Engine Health Monitoring System that introduces advanced vibration detection, the family benefits from the incorporation of advanced remote engine diagnostics. It is also enabled for bi-directional communications, allowing for easy remote reconfiguration of engine-monitoring features from the ground. Cloud-based analytics, smart algorithms and Artificial Intelligence continue to play an increasing role in delivering exceptional levels of availability and greater peace of mind for our customers.

Designed for outstanding reliability, the Pearl family is supported by industryleading Rolls Royce CorporateCare® Enhanced, the most comprehensive service programme in business aviation. CorporateCare Enhanced offers substantial financial and operational benefits to customers, increasing asset value and liquidity, mitigating maintenance cost risk and protecting against the unforeseen costs of unscheduled events anywhere in the world. Increased aircraft availability, reduced management burden, full risk transfer, direct priority access to mea-biz.com

OPINION PIECE

OPINION PIECE Opinion Piece

ThePath Pathfrom fromCOP26 COP26– – The Facilitatingthe theTransition Transition Facilitating

into action. The global finance community, Stella Cox CBE, Managing Director of DDCAP and into action. The global finance community, and in particular the Islamic Capital Stella Cox CBE, Managing Director of DDCAP and and in particular the Islamic Capital Markets (ICMs), have the responsibility to JenniferSchwalbenberg Schwalbenberg Chief Governance Officer Markets (ICMs), have the responsibility to Jennifer Chief Governance Officer help accelerate this change and become this change and become providesome somepractical practical clarity what needs to be help accelerate provide clarity onon what needs to be stewards of said change. stewards of said change. consideredand anddone done when divesting from heavy considered when divesting from heavy Recent examples of transition Recent examples of transition emittingsectors sectors emitting sukuk and other commitments

sukuk and other commitments

of these currently high-emission ManyMany of these currently high-emission sectors will be sectors real economy still sectors will be sectors the realthe economy still needsneeds in 2050inand viable or no carbon 2050 andlow viable low or no carbon alternatives do notdo yetnot exist the scale alternatives yetatexist at the scale required. Some Some sectors face significant required. sectors face significant hurdles to achieve decarbonisation hurdles to achieve decarbonisation whether they be economic, technological whether they be economic, technological or rooted in other Other Other or rooted in considerations. other considerations. sectors may not be able to completely sectors may not be able to completely achieve decarbonisation but still need to be achieve decarbonisation but still need to be included in the global economic transition included in the global economic transition and need assistance to develop effective and need assistance to develop effective offset programmes for residual emissions. offset programmes for residual emissions. Estimates suggest that an annual Estimates suggest that an annual USD6.9tn in infrastructure investment USD6.9tn in infrastructure and between USD1.6tn and USD3.8tninvestment for and between USD1.6tntoand USD3.8tn for energy transition is required meet the energy transition is required to meet the Paris Agreement targets.1 As there are Paris Agreement Asthis, there are not sufficient public fundstargets.1 to satisfy Stella Cox CBE Managing Director and Jennifer Schwalbenberg not sufficient public funds to satisfy this, private capital is vital, and this presents Chief Governance Stella Cox CBEOfficer Managing Director and Jennifer Schwalbenberg private capital is vital,for and presents a considerable opportunity thethis ICMs Chief Governance Officer to mobilise funding. Toopportunity date, there for have a considerable the ICMs 18 transition bondsTo globally, and have ntroduction the necessary resources to transition to only been to mobilise funding. date, there far fewer sukuk, but it seems more Entroduction S G - fo c u s e d c a p i t a l m a r ke t onlytransition been 18 transition bonds globally, and thesustainable necessarypractices. resourcesDivestment to transition to momentum maytransition be growing.sukuk, In 2020, not result in lowerpractices. emissions.Divestment activities far fewer butthe it seems more sustainable E S G - fo care u s eoften d c asynonymous p i t a l m a r ke t does Islamic Finance sector saw the first The capital markets need to focus with portfolio divestment from momentum may be growing. ever In 2020, the does not result in lower emissions. activities are often synonymous transition sukuk by Abu Dhabi’s on decarbonising real economy, notfocus heavy emitting sectors such as oilfrom & Islamic Finance sector sawEtihad the first ever The capitalthe markets need to with portfolio divestment Airways, which raised USD600m for Etihad their portfolios. Conscientious investors gas, cement, steel, aviation and mining. on decarbonising the real economy, not transition sukuk by Abu Dhabi’s heavy emitting sectors such as oil & in sustainable aviation and and financiers need to identify those investment However, by divesting, ESG-principled their portfolios. Conscientious investors Airways, which raised USD600m for gas, cement, steel, aviation and mining. companies making the ambitious carbon reduction targets. In March 2021, investors effectively abandon control and financiers need to identify those investment in sustainable aviation and However, by divesting, ESG-principled commitments, setting strong goals and the Islamic Development Bank (IsDB) raised to those who may not share the same companies making the ambitious carbon reduction targets. In March 2021, investors effectively abandon control taking action. If concerned investors $2.5 billion with its Sustainability Sukuk, concerns and who may not exert their commitments, setting strong goals and the Islamic Development Bank (IsDB) raised to those who may not share the same support these sectors to transition to the proceeds of which will be allocated influence in furtherance of a sustainable $2.5 billion withunder its Sustainability action. and, If concerned investors concerns and who may not exert their to eligible projects the IsDB’s Sukuk, newtaking technologies where possible, agenda. Equally, by refusing to provide the proceeds of which will which be allocated support these sectors to transition to influence in furtherance of a sustainable retool to accommodate renewables, they Sustainable Finance Framework, financing to these sectors the capital to eligible projects under the new technologies and, where possible, agenda. Equally, by refusing to provide to IsDB’s enable these sectors to convert intent incorporates supporting the transition markets leave these industries without

retool to accommodate renewables, they financing to these sectors the capital enable these sectors to convert intent markets leave these industries without News for the MEA region and Finance news in the MEA market 54 MEABUSINESS Business Banking 38

Banking and Finance news in the MEA market

Sustainable Finance Framework, which incorporates supporting the transition to

a green economy as one of the three main pillars of its climate change policy. The market has also seen increased commitment to transition funding in the MENA region. For example, in September 2021, the Arab Petroleum Investments Corporation (APICORP) announced they are considering the issuance of transition sukuk as part of their green bond framework. Additionally, KSA’s Public Investment Fund (PIF) has stated that it would look to “’gradually’ move toward turning down investments that lack their own sustainability plans”.i In the meantime, the PIF has been investing in the transition, boosting its stake in ACWA Power International which focuses on renewable energy sources and investing in electrical vehicle manufacturer Lucid.ii Standing alongside investors and corporates, financial institutions are also supporting clients in this work. Standard Chartered’s recently introduced Sustainable Trade Finance Proposition in the UAE helps industries transition and reduce carbon emissions by offering financing that recognises their efforts to lessen their carbon footprints. HSBC has made a similar commitment and in early 2021 announced the formation of a dedicated Sustainable and Transition Finance team in the Middle East, North Africa and Turkey which will help institutions, corporates and individuals to transition to a more sustainable future.iii

How to facilitate a meaningful transition Stakeholder collaboration (including multilaterals, sovereigns, global financial institutions) across the ICMs is needed to ensure the industry mobilises the necessary capital as efficiently as possible to those companies with a legitimate

dedication to the transition. Effective leadership from within the ICMs will be imperative to ensure effective standards are put in place, and compliance with those standards is monitored. In its recent white paper, Climate Bonds Initiative (CBI) have posited what might constitute a “transition bond” or “transition sukuk”. Under this new label, companies would be held to account based on “five hallmarks of a credibly transitioning company, i.e. a company whose transition is rapid and robust enough to align with … the Paris Agreement.”iv These key elements would be the focus and requirement of the certification assessment to achieve the “transition” label. Specifically, the CBI’s hallmarks include: (1) Paris-aligned targets; (2) Robust plans to reduce emissions; (3) Implementation action; (4) Internal monitoring; and (5) External reporting. The proposal, whilst complementing existing ESG frameworks and methodologies, goes beyond them to “avoid transition labelling”. CBI acknowledges that “different industries will have greater or lesser potential to reduce emissions/ increase sequestration over time, meaning that the end goals and speed of transition will vary substantially by sector”, however, the requirement for all would be to reduce emissions to the greatest extent possible, as quickly as possible. Whether the ICMs look to adopt this framework, or develop their own, the key governance elements must reflect a company’s “willingness and ability to deliver on its decarbonisation targets” as well as provide the necessary granularity “to ensure that those targets are ambitious and in line with climate goals”.v Governance and accountability will be key to ensuring a meaningful transition, requiring transparency not only of targets met, but

1 Climate Investment Opportunities: Climate aligned bonds &issuers 2020 at https://www.climatebonds.net/files/ reports/cbi_climatealigned_bonds_issuers_2020.pdf i ii iii iv

https://www.aljazeera.com/economy/2021/9/21/saudi-arabias-wealth-fund-plans-green-debt-issuance-soon https://www.aljazeera.com/economy/2021/9/21/saudi-arabias-wealth-fund-plans-green-debt-issuance-soon https://www.oerlive.com/oman/hsbc-fuels-omans-transition-to-a-low-carbon-economy/ https://www.climatebonds.net/files/files/Transition%20Finance/Transition%20Finance%20for%20 Transforming%20Companies%20ENG%20-%2010%20Sept%202021%20.pdf v https://www.climatebonds.net/files/files/Transition%20Finance/Transition%20Finance%20for%20 Transforming%20Companies%20ENG%20-%2010%20Sept%202021%20.pdf

targets missed. Projects must be analysed not only from an investment perspective but also from an efficiency perspective, to avoid needlessly repeating structures that do not produce optimal results. Transition financing must address scope 1, 2, and 3 emissions and short, medium and longterm targets must be set. The ICMs need to work together to agree methodologies and governance structures to be able to get to work to address these considerations and enable the transition.

Call to Action to Facilitate the Transition The Earth is what all of humanity has in common; it links people across cultures and continents. What impacts this planet will impact all, but not necessarily equally, and many of those least responsible for this crisis will, and in some cases already do, number amongst the communities most impacted. The world has already seen its first climate refugees and if the current trajectory is maintained, they certainly will not be the last. The discussion in the final weeks of the run-up to COP26 in November 2021 has shifted from what to achieve at COP26 to where does one begin after COP26. Recent data shows that even with the drastic changes to the living and working patterns of much of the global population during the COVID-19 pandemic, there wasn’t a significant reduction to global emissions. Further, without efforts for protection and preservation of a habitable planet, the UN Sustainable Development Goals will not be achievable. Therefore, a strong argument exists for increased efforts to bolster action to reduce emissions and protect biodiversity. But as actions require resources, the financial community, and in particular the ICMs, must focus on mobilizing resources to meet these goals. The ICMs have a responsibility to meet this call to action, to continue to mobilise funding for green, blue and sustainability projects and begin to formalise their plans to dedicate resources to facilitating the transition required. mea-finance.com mea-biz.com

55 39

Opinion Piece

Middle East Banks Double Down on Digital Customer Experiences PostPandemic Mike Plimsoll, Global Head of Industry Marketing, Sitecore sees that our region is enthusiastically forging ahead with digital banking innovation but that they should also consider mobile access, user experience, compliance, pervasive security and the right tools for success in this new era of digital banking. DUBAI, United Arab Emirates -- The pandemic has fundamentally shifted how Middle East banks deliver on customer experiences, rapidly shifting from a branch-centric, in-person approach to one that is digital-first, across websites, mobile apps, and customer call centers. Having one flexible and composable digital platform that can unify how banks engage with their customers across all channels is vital for optimizing customer experiences and retaining their loyalty.

EMIRATES NBD AND MASHREQ BANK LEAD DIGITAL BANKING INNOVATION 40

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Banks should evolve their thinking from “the next best content” or “the next best option” towards combining the right content with the right insights in realtime to deliver “the next best customer experience.” In order to keep pace with the rapid pace of technological change, banks need to adopt an adaptable and composable architecture to deliver more relevant, consistent, and high-quality customer experience – regardless of new and emerging platforms or channels.

M ike Plimsoll, Global Head of Industry Marketing, Sitecore

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Gartner predicts that by 2023, organizations that have adopted a Composable Commerce approach will outpace the competition by 80% in the speed of new feature implementation. Leaders are adopting a MACH approach: Microservices, API-First, Cloud-Native, and Headless. Already, the Middle East has been among the global leaders in transforming customer experiences. According to a recent YouGov survey of more than 650 IT decision-makers across the Middle East and North Africa, 88% said they fundamentally changed their customer experiences in response to the pandemic, leading to deeper customer engagement. Emirates NBD and Mashreq Bank Lead Digital Banking Innovation In the Middle East, leading banks such as Emirates NBD, and Mashreq Bank are all driving digital innovation to optimize employee and customer experiences. At Emirates NBD, a new app and website with engaging, personalized banking and lifestyle content has helped Liv. to shake up the UAE financial market and become one of its top service providers. Sitecore’s platform has delivered operational efficiencies and introduced new governance and analytics capabilities. The response from employees has been very positive with 80% liking the new experience. More than 50 years on from Mashreq’s inception, the bank maintains an unwavering commitment towards customer centricity. Through Mashreq’s digital-first approach, customers can benefit from a banking experience that is convenient, tailored to their needs, and meets their evolving demands. A

an API, which makes it a powerful tool for its mobile and web developers.

HAVING A FLEXIBLE AND COMPOSABLE PLATFORMS IS VITAL FOR OPTIMIZING CUSTOMER EXPERIENCES IN BANK BRANCHES AND DIGITAL CHANNELS, SAYS MIKE PLIMSOLL modern, intuitive, and user-friendly website is imperative in digital transformation. In collaboration with Sitecore, Mashreq Bank not just enhanced the overall experience on its website, Mashreq Bank also implemented a Sitecore content management system that enables the bank to deliver content across all customer channels through

Aligning Customer Experiences in Branches and on Digital Platforms In discussions with leading Middle East banks during the recent GITEX Technology Week, we are seeing that Middle East banks have the bold visions to try new forms of customer engagement that are, in some cases, leapfrogging the legacy banks that are in Europe and North America. The Middle East, and especially the UAE, have the advanced technology infrastructure and visionary CIOs, who can lead innovation. One key takeaway is that the era of digital banking will only continue to accelerate in the Middle East – with banks rethinking their in-branch experience and driving hybrid models that can meet customers at any time, any location, and across any in-person or digital platform that they want to engage. The website experience is vital. Among MENA IT decision-makers, 88% said their customers will navigate away from a site and choose an alternative if they can’t find what they need in just a few clicks. And 87% said customers have less patience with slow or poorly functioning websites. Among younger users, bank apps are taking on increased importance. Worldwide, 75% of Millennials say they use mobile banking apps, according to a recent white paper. At the same time, banks have also had to fully onboard their senior citizen customers to use digital banking platforms. Based on our discussions, we are seeing that the two most frequent questions the customer service teams are getting: How do I log on to the bank’s website with my credentials? And is online banking safe? Banks need to place this front and center. Videoconferencing has also taken hold during the pandemic for enabling

remote work, and in turn also enabling a new level of customer service. If customers are already on their laptops or mobile devices, banks should be making it easy for one click to video chat. At the same time, Middle East banks are also re-thinking the branch experience. Every country is different in the Middle East in terms of regulations and cultural differences. Many customers are still used to doing banking activities such as depositing checks or applying for loans, or just want someone to talk through any issue or question with someone in the branch. Increasingly, Middle East banks are now adopting a hybrid model by installing videoconferencing kiosks in the branch. Customers do not have to wait in line to talk to a teller, but they can still talk to a member of the customer experience team face-toface in a virtual format. Customers may prefer having sensitive financial conversations in the privacy of bank branches, rather than in shared apartments or offices that are less private and may have lower levels of connectivity. As Middle East banks start planning and delivering on the next steps in their digital transformation journeys, they should consider mobile access, user experience, compliance, pervasive security, and the right tools for success in this new era of digital banking. Open and composable architecture is the foundation for banks to future-proof their customer engagement by bridging data, content, and organizational silos with APIs and micro-services. Moving forward, the best banks are mapping out digital strategies that include embracing real-time customer data, creating a strong content foundation, allowing experimentation and optimization, automating marketing execution, embracing new composable architecture.

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Sustainability

Etihad raises US$1.2bln in first sustainability-linked ESG Loan in Global Aviation Landmark finance transaction demonstrates UAE flag carrier’s ongoing commitment to sustainability

tihad Airways, the national airline of the United Arab Emirates, has raised US$1.2 billion in the first sustainability-linked loan (SLL) tied to environmental, social and governance (ESG) targets in global aviation. The transaction is the largest sustainable financing in the airline’s history and follows two innovative aviation financing deals – a first-of-a-kind sustainability-linked transition sukuk in 2020 and a loan tied to the UN Sustainable Development Goals in 2019. Adam Boukadida, Chief Financial Officer at Etihad Aviation Group, said: “Etihad Airways has spearhead-

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L eft to right - Martin Tricaud,FAB; Adam Boukadida, Etihad; Abdulfattah Sharaf HSBC

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ed sustainable financing in aviation, and we are proud to continue our innovative track record by being the first airline to secure a sustainability-linked ESG loan. Financing our operations in a way that supports both our planet and the people in our local communities is the natural next step of our financing strategy. “Our goals will have a real-world impact, and to underscore our accountability, we have committed to penalties and incentives of up to US$ 5.5 million linked to our progress against key performance indicators. Through our Greenliner programme, we are pursuing multiple sustainability-related initiatives at Etihad Airways to improve the environmental footprint of aviation, and green financing is a key part of our strategy.”

Social – Etihad Airways has established the Global Business Service Solution (GBSS) centre in Al Ain, UAE, to contribute towards the socioeconomic development of the community and to increase employment and upskilling of Emirati women in the aviation sector. This KPIs will measure both female participation and ongoing training and development. Governance – Etihad Airways upholds the highest standards of corporate governance, ethics and integrity. This KPI will be linked to the Integrity Score, a comprehensive measure used to assess the overall internal culture of integrity at the airline.

The loan terms are linked to multiple Key Performance Indicators (KPIs) that are tied to the following ESG initiatives and will be independently assessed:

Etihad Airways selected HSBC and First Abu Dhabi Bank (FAB) as the strategic partners and financiers for this transaction. HSBC and FAB acted as Joint ESG Structuring Banks, Joint ESG Coordinators, Joint Bookrunner and Mandated Lead Arranger. FAB also acted as Facility Agent.

Environmental – Reducing the carbon emissions intensity of the passenger fleet, as measured in terms of CO2 emissions per revenue tonne kilometres. As part of its iconic Greenliner Programme, Etihad Airways has committed to an ambitious target of net zero carbon emissions by 2050 and has set key milestone goals for 2035 and 2025.

Abdulfattah Sharaf, CEO, HSBC UAE & Head of International Markets, said: “HSBC is committed to helping lead the transition to a net zero carbon economy and we’re mobilising finance and accelerating innovation to make this happen, working in partnership with our customers to realise the opportunity to build a more sustainable, resilient, and prosperous future.

OUR GOALS WILL HAVE A REAL- WORLD IMPACT, AND THE UNDERSCORE OUR ACCOUNTIBILITY This is our second sustainability-linked transaction with Etihad, sending a strong signal that two global companies with leading UAE businesses – such as HSBC and Etihad – are committed to working in partnership to find innovative ways to finance industry while also protecting the planet.” Martin Tricaud, Group Head of Investment Banking, First Abu Dhabi Bank, said: “We would like to congratulate Etihad Airways on the closing of this landmark sustainability- linked loan transaction. As a strategic partner and financier to Etihad in this transaction, FAB has demonstrated its sustainable financing expertise and contributed to the transition towards sustainability across the aviation sector. As the UAE’s largest bank, we play an active role in supporting the economy, environment and communities that we operate in. We recognise the importance of the benefits and opportunities that can be brought about through sustainable finance. FAB is committed to empowering the UAE’s priority sectors to grow and become more sustainable through our impactful finance solutions.”

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Air Cargo & Logistics

Aramex inaugurates new express handling facility at Riyadh airport New facility is in line with plans to expand in Saudi Arabia, says general manager, as more are planned

ramex has announced the inauguration of its new express courier handling facility located in the Model Cargo Village at King Khalid International Airport. According to the company, the new facility will help serve Aramex’s growing customer base more effectively and in line with its continuous efforts to improve and streamline its operations for both B2C and B2B clients. The facility area totals about 5,900 sqm and is inside the Model Cargo Village at King Khalid International Airport. It is equipped with the latest automated parcel sorting systems with a capacity to handle up to 100,000 shipments per day. In addition, it is directly connected to the Saudi Customs Clearance systems, with expectations that it will significantly reduce the time needed to clear the shipments and deliver them to their final destination. Moreover, Aramex is expected to soon receive the Ground Services Provider Certificate (GACAR 151) issued by the General Authority of Civil Aviation. Mr. Abdulaziz Abdullah Al-Nowaiser, General Manager of Aramex in KSA, said: “The launch of our new facility comes in line with Aramex’s plans to continue expanding and ramping up its operations in KSA, which is one of the most important markets for us. It will also contribute to accelerating the process of clearing and delivering parcels and thus enhancing the overall customer experience.” Al-Nowaiser also shed light on Aramex’s plans to continue its investments in more facilities in KSA and support its workforce with the best Saudi talents to improve its operations and increase efficiency levels. This is in line with Saudi Vision 2030, also focused on further developing the logistics sector and reinforcing the

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N ew express courier handling facility located in the Model Cargo Village Kingdom’s position as a global logistics center, benefitting from its strategic geographic location and infrastructure as it links Asia, Africa, and Europe together. Othman Aljeda, Group CEO of Aramex, expressed his appreciation and gratitude to Dr Mohammed bin Saud Al-Tamimi, Governor of the Communications and Information Technology Commission, for his support and presence at the event. “Since establishing its operations in KSA, Aramex proved to be an active partner in the Saudi society and gained the trust of various sectors through its high-end innovative solutions and services,” Aljeda added. Abdulaziz Abdullah Al-Nowaiser, General Manager of Aramex in KSA, said: “We are confident that this facility will boost the competitive advantage of Aramex in the Kingdom and promote its leading market position. The launch of our new facility comes in line with Aramex’s plans to continue expanding and ramping up its operations in KSA, which is one of the most important markets for us. It will also contribute to accelerating the process of clearing and delivering parcels and

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thus enhancing the overall customer experience.” Al-Nowaiser also shed light on Aramex’s plans to continue its investments in more facilities in KSA and support its workforce with the best Saudi talents to improve its operations and increase efficiency levels. This is in line with Saudi Vision 2030, by further developing the logistics sector and reinforcing the Kingdom’s position as a global logistics centre.

SINCE ESTABLISHING ITS OPERATIONS IN KSA, ARAMEX PROVED TO BE AN ACTIVE PARTNER IN THE SAUDI SOCIETY AND GAINED THE TRUST OF VARIOUS SECTORS THROUGH ITS HIGH-END INNOVATIVE SOLUTIONS AND SERVICES

FedEx Express, Dubai South sign agreement to establish new regional air hub State-of-the-art technologies to support the company’s regional and global networks

n the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group, FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, has signed an agreement with Dubai South to build its new regional hub for the Middle East, Indian Subcontinent and Africa (MEISA) region at the Logistics District. Located in proximity to Dubai World Central Airport (DWC), the new FedEx Express regional hub at Dubai South plans to incorporate state-of-the-art technologies to support the company’s regional and global networks and increase operational efficiencies to meet growing trade demands within the MEISA region. The agreement was inked by Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South and Jack Muhs, Regional

President of FedEx Express Middle East, Indian Subcontinent and Africa region. The signing ceremony was held at ‘Hypermotion Dubai’ at the World Expo’s Dubai Exhibition Center, an event focused on next generation mobility and logistics.

the overall customer experience with an automated and advanced sorting system, hi-speed security screening equipment, cold-chain services, and capabilities to manage dangerous goods,” Muhs continued.

According to International Air Transport Association, the Middle East experienced a 15.4 percent rise in international cargo volumes in August 2021 as compared to August 2019.

In his comments, Khalifa Al Zaffin, said, “We are delighted to be helping FedEx expand its regional operations with our optimal operational solutions, bespoke services and state-of-the art infrastructure. The mega logistic player’s presence will further consolidate our global position as the preferred choice for industry players seeking to operate in an integrated, economic environment, where they would connect with international markets through a multi-modal platform.” The new FedEx Express regional hub at DWC will provide the opportunity for future flight growth through Dubai, enabling FedEx to expand its commercial footprint to provide businesses and customers faster access to more countries around the world.

“With increasing trade needs within the region and globally, the ideal location of the hub and our advanced technology solutions will allow us to grow and strengthen our presence in the MEISA region and beyond,” Muhs said. “Dubai continues to be the heart of our regional operations. The new cuttingedge hub at Dubai South is in line with our commitment to build a network for what’s next and stay one step ahead of our customers’ requirements. The hub will be developed with sustainable operations and energy use in mind and will enhance

WITH INCREASING TRADE NEEDS WITHIN THE REGION AND GLOBALLY, THE IDEAL LOCATION OF THE HUB AND OUR ADVANCED TECHNOLOGY SOLUTIONS WILL ALLOW US TO GROW AND STRENGTHEN OUR PRESENCE IN THE MEISA REGION AND BEYOND mea-biz.com

Air Cargo & Logistics

World supply chain woes to ease early 2022 Virgin Hyperloop explores move into cargo and logistics sectors Hypermotion Lab hears while Oman’s Asyad trials blockchain technology

he current woes stress testing international supply chains will be over early next year, according to Mohsen Ahmed, CEOLogistics, Dubai South. Addressing Hypermotion Lab – one of three unparalleled industry conferences at Hypermotion Dubai, the Middle East edition of the German-initiated industry convex which reimagines the transportation and logistics industries – Ahmed defined 2021 as the “independence day” for the logistics industry. Consigning current global logistics dilemmas to pandemic-induced disruption in labour forces, container shortfalls and equipment shortages, Ahmed said; “We are now moving. The current supply chain disruption is a short-term scenario. In 2022 things will normalize and will ease up in transportation across the globe.” Dubai, said Ahmed, was able to largely side-step the logistics problems largely due to the agility of Emirates Airline which quickly converted some of its passenger capacity to cargo at the outbreak of Covid-19. Other companies which emerged largely unscathed, he said, were those who had embraced digitalization pre-pandemic;

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“They stood out for their quick response providing good visibility on inventory and transportation,” he added.

AHMED DEFINED 2021 AS THE “INDEPENDENCE DAY” FOR THE LOGISTICS INDUSTRY.

Hypermotion Lab, which ran within Hypermotion Dubai at the spectacular new Dubai Exhibition Centre at Expo 2020 until November 4, unveiled a blueprint for the future logistics and urban transportation industries with experts proffering a range of innovations currently being progressed. Virgin Hyperloop’s cargo and logistics hopes Harj Dhaliwal, Managing Director, Middle East & India of Virgin Hyperloop disclosed the company is currently working with DP World to move into the cargo and logistics sectors alongside passenger transport.

“The pandemic exacerbated consumer

D ubai South’s Logistics CEO tell Hypermotion Dubai

behaviour where we want things now to be delivered in hours, not days or weeks, which has supercharged the e-commerce sector. There is a need to grow express freight and we are looking at how we can translate this into opportunity using technology like ours and we are working with DP World to see how we can move now into cargo and logistics,” he explained. He added: “Eight to 10 years from now autonomous vehicles will drive efficiencies because they will connect trunk lines and integrate into the overall satellite system to be able to handle routing.” Multi-Modal passenger and logistics the future for urban sustainability Florian Lennert, Head of Mobility for NEOM – Saudi Arabia’s new future linear city – said multi-modal passenger and freight systems would define the future and help control traffic and emissions in an age of pressing sustainability demand. “There are problems emerging from the rise in e-commerce and an immediate demand in that too many trucks can be delivering too little too often. We have to bundle this in some way. We have to advance mobility to build liveable cities, which will mean looking at the urban design side to deliver cities with 10-minute access and use of urban air mobility technology including drones,” he said. Asyad trials blockchain Meanwhile Ghaith Al Darmaki, Chief of Technology of the Asyad Group – the Omani integrated logistics solutions provider – revealed that his company is piloting blockchain technology “requiring all our partner communities to work together in one network.” “Technology is the backbone of Asyad and enabled us to weather the pandemic by adopting new business models which made us resistant,” he disclosed. “In addition, because of our geographic position, we were in a better position to mitigate the risks of disruption besetting China and the USA.”

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Air Cargo & Logistics

One-off gains boost net profit of Dubai’s Aramex in third quarter. Dubai-listed company Aramex reported on Sunday that its net profit surged 47 percent year on year in the third quarter of 2021.

ubai-listed company Aramex reported on Sunday that its net profit surged 47 percent year on year in the third quarter of

Operating profit fell 19 percent to 68 million dirhams, while operating profit margin dropped by one percent. “Excluding the one-off events, Q3 2021 operating profit fell 55 percent,” the statement added.

The courier’s profit, which includes oneoff gains, such as the proceeds made from the sale of InfoFort and insurance from the Beirut Port blast, reached 67.8 million dirhams ($18.4 million).

For the nine-month period ending September 30, the courier and logistics operator saw net profit decline by 14 percent to 179 million dirhams.

2021.

However, excluding the one-off events, normalised net profit for the three-month period declined by 70 percent to 29.6 million dirhams, compared to 99 million dirhams for the same period last year, the company said in a statement to the Dubai Financial Market (DFM).

Othman Aljeda, Group Chief Executive Officer of Aramex, said the company has an almost complete return to pre-COVID operating environment. He said they are seeing very strong growth for their business in Saudi Arabia, where they will continue to invest in expanding and ramping up operations.

“We are also leveraging data analytics and [artificial intelligence] to help us better prepare, plan and optimise our operations. This will be especially beneficial as we approach the very busy peak shopping season. As for line haul costs, while they remain above pre-COVID levels, they have dropped from their 2020 peak and the capacity issues are subsiding, which translates into [a] slight improvement in margin and reduced delays in cross-border activity over the coming periods.” Aramex, in which Abu Dhabi-backed investor ADQ last year bought a 22.25 percent stake, recently re-organised its operating model and appointed a chief strategy officer to lead its international expansion, as well as merger and acquisition plans.

WE ARE ALSO LEVERAGING DATA ANALYTICS AND ARTIFICIAL INTELLIGENCE TO HELP US BETTER PREPARE, PLAN AND OPTIMISE OUR OPERATIONS A ramex Emirates Head Office Jebel Ali

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THE

FUTURE

OF THE

AEROSPACE INDUSTRY

14-18 November 2021 DWC, Dubai Airshow Site

Registration Is Now Open! Register Today: www.dubaiairshow.aero

LIFESTYLE reproduced almost exactly. By H ublot Spirit of Big Bang Cristal d’Or

heating purest 24-carat gold to its melting point, its atoms are vaporised into a gaseous mixture before interlocking as the temperature is lowered, forming an open angular structure. Thousands of crystals join to create an architecture which is random, unique, and impossible to reproduce, with no more than 20% making the grade.

Gold crystal: alchemist Hublot creates magic

t is said that what nature creates cannot be reproduced, as natural processes require both time and complexity. Once again, Hublot has made the impossible possible by transmuting gold into its rarest and most exclusive form: gold crystal. This form of gold is unique, it being impossible to reproduce two identical gold crystals. Beyond the fascination that gold has always exerted, it embodies everything that makes Hublot so distinctive: materials, minerals, metals; their fusion and their transformation into new forms of expression, unique and quite unexpected. An alchemy expressed both in the transmutation of the raw material

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and in the chemistry created by the spirit of the watch itself. This is the Spirit of Big Bang Gold Crystal. The mysteries of gold crystal The natural crystallisation of gold dates to a time when mountain ranges formed. It was in these crevices that jets of pressurised heated water extracted the gold, redepositing it within seams in the rocks. On rare occasions, natural conditions would allow the gold to remain in its natural state: gold crystals, the rarest form of gold on earth. Hublot has mastered a unique technique allowing natural crystallisation to be

Business News for the MEA region

The master dial-maker applies the gold crystals to a black dial covered with a fine layer of transparent lacquer; the manufacturing process took this craftsman a year to research and develop, and the application must be undertaken in a controlled atmosphere to ensure no air bubbles can form on the surface. It takes around twenty layers of lacquer to encapsulate the gold crystals. The dial is then polished to render the lacquer invisible, perfectly smooth and uniform. Spirit of Big Bang Gold Crystal The Spirit of Big Bang is Hublot’s tonneau-shaped watch, and it adopts all the design codes of the iconic Big Bang: the six H-shaped screws on the bezel, the lugs either side of the case, the over moulded rubber screw-down crown decorated with the iconic H, the sandwich type construction. To provide a perfect contrast with the gold of the crystals, the Spirit of Big Bang Cristal d’Or’s case is covered in black ceramic and paired with a black alligator strap stitched onto rubber. Available in 39 and 42 mm, it will display the time for 50 hours without any winding of its Caliber HUB1710 automatic mechanical movement.

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November 2021

Articles inside

Gold crystal: alchemist Hublot creates magic

One-off gains boost net profit of Dubai’s Aramex in third quarter

World supply chain woes to ease early 2022

FedEx Express, Dubai South sign agreement to establish new regional air hub

Aramex inaugurates new express handling facility at Riyadh airport

Middle East Banks Double Down On Digital Customers Experience Post-Pandemic

The path from COP26 - Facilitating the Transaction

Etihad raises US$1.2bln in first sustainability-linked ESG Loan in Global Aviation

Dubai South VIP Terminal records over 346% increase in private

Dubai Airshow 2021 to reflect Dubai’s role in driving the recovery of the aviation industry

Sharjah Airport Authority adopts new systems to improve operational efficiency

Etihad airways announces move to Moscow’s Sheremetyevo international airport

The Swiss Pavilion successfully concludes Space Week events at Expo 2020 Dubai

Emirates renews its commitment to Seychelles at Expo 2020

The Aviation Annual Gala Evening Is Back

Inmarsat announces Philippe Carette as president of its aviation business unit

Empire Aviation delivering private aviation service excellence in the UAE

Air cargo, up 9.1% in September however capacity remains constrained

Emirates Airlines to launch daily service to Tel Aviv from 6 December 2021

Cisco warns of a hacking campaign targeting the aviation industry

National Aviation Services (NAS Strengthens Presence in Africa through Strategic Partnership with Siginon Aviation in Kenya

Gulfstream Aerospace Appoints Empire Aviation Group As International Sales Representative For India