Low-cost carrier Flydubai is in multibillion dollar talks to buy “at least 100” new passenger jets in the coming months as it looks to renew its current book set to expire in 2023, the airline’s chief executive said.
"We are definitely in the market for a new order," flydubai chief executive Ghaith Al Ghaith said in an interview with The National at Dubai Air Show. "We are generally always in talks with [Boeing and Airbus] and we are in intense talks with them now."
The Dubai-based airline, which entered into an expanded codeshare agreement with Emirates in July, is looking at potentially a bigger model of aircraft than its current fleet of mainly Boeing 737-800s as it reviews its aircraft. The top end of the 737 family is the 737 Max 10 which cost $124.7 at list prices. A popular model with other budget carriers is the 737 Max 8 which is priced at $112.4 million.
“For us, we change aircraft every eight years and we have an order book now of 100," Mr Al Ghaith said. That order book expires in 2023 so we are now in the market to ensure we do something for beyond that. But we are not in a rush.”
Flydubai is “looking for similar aircraft [to what it has]- maybe even a little bigger,” he said. “For example, if you look at the Boeing family, there is the 800, the 900 and the 1000, and on the Airbus side, we have the A320, the A321 and the Max. All of these aircraft are options.”
It's unlikely that flydubai would have a mix of both Airbus and Boeing aircraft in its fleet as the operating cost would increase.
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“I’m sure our next order will be more than 100, for sure," Mr Al Gaith said. "We are not in a rush, but of course I would love to have signed a deal at this air show.” When asked if this was not going to happen, he responded, “I don’t think so,” and said around the end of the year was more feasible.
The partnership with Emirates, under which the two Dubai-based carriers are expanding their shared network to reduce route duplication and achieve efficiencies, is “going very well – we have managed to improve connectivity between the two airlines from three hours to two hours and have launched over 40 new routes on the codeshare,” he said.
The 2017-18 operating year will be “as challenging as last year” for flydubai, which reported widening losses in August. The airline recorded a loss of Dh142.5 million for the first six months to the end of June, compared with a loss of Dh89.9m for the same period in 2016. Flydubai reported a 69 per cent decline in its earnings in 2016 because of the challenging operating environment.
“Our second half of the year is always better than the first half and we are on trend with that,” he said. “I think this year will be as challenging as last, nothing much has changed, even though fuel prices have gone up to $60 per barrel.”
In the long term the “oil price is going in the right direction” to help regional airlines recover after a tough period, he said.
Flydubai intends to open “a handful” of new routes within the next two months, Mr Al Ghaith said, adding that Eastern Europe was a key growth opportunity for the airline. “Some of these routes will be driven by the relationship with Emirates.”
A merger with Emirates is out of the question.
“I personally don’t see that because each airline has its own identity and we work on areas of collaboration, of which there are plenty of course,” he said.
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
RESULT
Bayern Munich 5 Eintrracht Frankfurt 2
Bayern: Goretzka (17'), Müller (41'), Lewandowski (46'), Davies (61'), Hinteregger (74' og)
Frankfurt: Hinteregger (52', 55')
MATCH INFO
Borussia Dortmund 0
Bayern Munich 1 (Kimmich 43')
Man of the match: Joshua Kimmich (Bayern Munich)
More from Aya Iskandarani
The specs
Engine: 2.9-litre, V6 twin-turbo
Transmission: seven-speed PDK dual clutch automatic
Power: 375bhp
Torque: 520Nm
Price: Dh332,800
On sale: now
What went into the film
25 visual effects (VFX) studios
2,150 VFX shots in a film with 2,500 shots
1,000 VFX artists
3,000 technicians
10 Concept artists, 25 3D designers
New sound technology, named 4D SRL
THE BIO
Bio Box
Role Model: Sheikh Zayed, God bless his soul
Favorite book: Zayed Biography of the leader
Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet
Favorite food: seafood
Favorite place to travel: Lebanon
Favorite movie: Braveheart
FIXTURES
All times UAE ( 4 GMT)
Saturday
Fiorentina v Torino (8pm)
Hellas Verona v Roma (10.45pm)
Sunday
Parma v Napoli (2.30pm)
Genoa v Crotone (5pm)
Sassuolo v Cagliari (8pm)
Juventus v Sampdoria (10.45pm)
Monday
AC Milan v Bologna (10.45om)
Playing September 30
Benevento v Inter Milan (8pm)
Udinese v Spezia (8pm)
Lazio v Atalanta (10.45pm)
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
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What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
More coverage from the Future Forum
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ECarol%20Mansour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EAida%20Abboud%2C%20Carol%20Mansour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5.%2F5%3C%2Fp%3E%0A
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
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