Air Arabia, the UAE’s only listed airline, is optimistic about a revival of travel demand during the summer as more people receive the Covid-19 vaccine and border restrictions are eased.
“I expect a good summer, subject to we do not get hit with surprises of a third wave or something of that nature,” said group chief executive Adel Ali on the sidelines of the Arab Aviation conference in Ras Al Khaimah on Monday.
“As vaccines take place, as more airports are opening, I expect more people to want to travel.”
Government-imposed travel restrictions have affected the recovery of the global aviation industry, prompting airlines to call for Covid-19 tests and vaccines in place of quarantine measures.
“The real question is not about demand or airlines or people going on holiday; it is whether airports will open up and whether the safety protocol will not be as tough as it has been in some countries,” said Mr Ali.
“Of course, people will not go on holidays if they have got to quarantine for two weeks. If it is open, they will.”
The recovery of the region's travel sector will be driven by tourism and people visiting family and friends, he said. However, the business travel will take longer to rebound.
Short-haul flights are expected to recover faster as travellers become more confident.
Mr Ali said it remains unclear at this stage whether the airline will swing to profitability this year.
Air Arabia posted a net loss of Dh192 million in 2020, despite a net profit of Dh20m in the fourth quarter.
“What I am confident about is that we are doing extremely well under the circumstances. I think we have restructured and have driven a lot of cost out of the business,” he said.
“We are comfortable as a business that we can go through this pandemic for as long as it takes, and we will get out of it in a strong position.”
The airline does not have plans to raise debt . However, it is holding discussions with the UAE government.
“A request was put in for support if need be. That need be has not happened yet. The company is doing well,” he said.
“The dialogue continues to happen. At the moment, there is no point in going for loans or seeking financial support when the company is in good shape.”
The airline, which operates Airbus planes only, does not have plans to restructure its aircraft orders or schedule of deliveries, said Mr Ali.
It will take delivery of one Airbus A321neo jet in April. Deliveries for a $14 billion order of 120 Airbus aircraft are set to begin in 2024.
'Moonshot'
Director: Chris Winterbauer
Stars: Lana Condor and Cole Sprouse
Rating: 3/5
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UAE currency: the story behind the money in your pockets
ESSENTIALS
The flights
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes.
Where to stay
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.
8 UAE companies helping families reduce their carbon footprint
Greenheart Organic Farms
This Dubai company was one of the country’s first organic farms, set up in 2012, and it now delivers a wide array of fruits and vegetables grown regionally or in the UAE, as well as other grocery items, to both Dubai and Abu Dhabi doorsteps.
www.greenheartuae.com
Modibodi
Founded in Australia, Modibodi is now in the UAE with waste-free, reusable underwear that eliminates the litter created by a woman’s monthly cycle, which adds up to approximately 136kgs of sanitary waste over a lifetime.
www.modibodi.ae
The Good Karma Co
From brushes made of plant fibres to eco-friendly storage solutions, this company has planet-friendly alternatives to almost everything we need, including tin foil and toothbrushes.
www.instagram.com/thegoodkarmaco
Re:told
One Dubai boutique, Re:told, is taking second-hand garments and selling them on at a fraction of the price, helping to cut back on the hundreds of thousands of tonnes of clothes thrown into landfills each year.
www.shopretold.com
Lush
Lush provides products such as shampoo and conditioner as package-free bars with reusable tins to store.
www.mena.lush.com
Bubble Bro
Offering filtered, still and sparkling water on tap, Bubble Bro is attempting to ensure we don’t produce plastic or glass waste. Founded in 2017 by Adel Abu-Aysha, the company is on track to exceeding its target of saving one million bottles by the end of the year.
www.bubble-bro.com
Coethical
This company offers refillable, eco-friendly home cleaning and hygiene products that are all biodegradable, free of chemicals and certifiably not tested on animals.
www.instagram.com/coethical
Eggs & Soldiers
This bricks-and-mortar shop and e-store, founded by a Dubai mum-of-four, is the place to go for all manner of family products – from reusable cloth diapers to organic skincare and sustainable toys.
www.eggsnsoldiers.com
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Profile of Foodics
Founders: Ahmad AlZaini and Mosab AlOthmani
Based: Riyadh
Sector: Software
Employees: 150
Amount raised: $8m through seed and Series A - Series B raise ongoing
Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.
MATCH INFO
Argentina 47 (Tries: Sanchez, Tuculet (2), Mallia (2), De La Fuente, Bertranou; Cons: Sanchez 5, Urdapilleta)
United States 17 (Tries: Scully (2), Lasike; Cons: MacGinty)
ACL Elite (West) - fixtures
Monday, Sept 30
Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)
Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)
