American airlines, while still profitable, is seeing a higher fuel bill drain its earnings, Mr Parker said.LM Otero / AP Photo
American airlines, while still profitable, is seeing a higher fuel bill drain its earnings, Mr Parker said.LM Otero / AP Photo

American Airlines assessing impact of US-UAE Open Skies deal



American Airlines’ boss is satisfied with a US-UAE deal to resolve a long-running dispute about allegations of government aid but relations with Arabian Gulf rivals are unlikely to thaw immediately.

The carrier needs to see the impact of the agreement and its effect on the growth of Gulf airlines into the US market, Doug Parker, chairman and chief executive, of American Airlines told reporters on Sunday on the sidelines of the International Air Transport Association's annual general meeting in Sydney. It is too soon for its relationship with Gulf airlines to change or for closer ties to become feasible.

“We’re very pleased with the result of the talks between the US government, the UAE and Qatar and we’re grateful for what the US government was able to accomplish there,” Mr Parker said. “While it’s in place we haven’t had enough time to make sure that those resolutions actually have the effect that we hope for.”

Talks between US and the UAE last month affirmed the open skies agreement between the two countries and seemingly has resolved a long-running dispute that centred on US claims that carriers from the Gulf, including Emirates and Etihad, received unfair government subsidies. The Gulf airlines have long denied this, saying their rivals Delta, American Airlines and United were simply unable to compete with their levels of service.

Since 2015, the three largest American carriers have urged the US government to take action against the airlines by restricting their expansion.

Asked if the agreement could change its previously tense relationship with the Gulf airlines and eventually open doors to potential partnerships, Mr Parker said “we need to see more.”

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As airline executives gather in Sydney for the aviation meeting, with 130 chief executives and 1,000 delegates, the main issue under the spotlight is oil prices reaching a three-year high, a level that may end an era of unusually high returns.

American airlines, while still profitable, is seeing a higher fuel bill drain its earnings, Mr Parker said.

“The fact is we’re making less money,” he said. “The reality is when your second-largest expense goes up by 40 per cent, the cost of production goes up, the cost to the consumer goes up over time, but that hasn’t been the case yet.”

The hit on profitability from climbing oil prices will hurt airlines.

“It becomes clear this [oil price] is the new normal,” he said. “You would see over time less capacity growth in the industry and therefore higher prices, but I don’t think that’s going to happen in the near-term.”

Many airlines are struggling with the return of oil prices to a level near $80 a barrel, a global pilot shortage and higher airport fees.

Airline executives are also worried about the potential damage to the aviation industry amid growing tensions over international trade.

The Trump government has renewed threats to impose tariffs on China, and implemented duties on steel and aluminium products coming from Canada, Mexico and the European Union.

“We always get concerned when you see tensions elevate around free global trade,” Mr Parker said. “As yet, nothing has affected our revenues, but it’s the kind of thing you watch and hope that countries are able to work together and keep global trade flowing.”

Uncertainty over trade could curb demand for business travel, a key segment for airlines, especially Middle East airlines who rely on premium bookings to boost profits.

Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

Company%20Profile
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The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Biog

Mr Kandhari is legally authorised to conduct marriages in the gurdwara

He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada

Father of two sons, grandfather of six

Plays golf once a week

Enjoys trying new holiday destinations with his wife and family

Walks for an hour every morning

Completed a Bachelor of Commerce degree in Loyola College, Chennai, India

2019 is a milestone because he completes 50 years in business

 

The biog

Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball

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The%20specs
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Messi at the Copa America

2007 – lost 3-0 to Brazil in the final

2011 – lost to Uruguay on penalties in the quarter-finals

2015 – lost to Chile on penalties in the final

2016 – lost to Chile on penalties in the final

W.
Wael Kfoury
(Rotana)

SPECS
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2018 ICC World Twenty20 Asian Western Sub Regional Qualifier

Event info: The tournament in Kuwait is the first phase of the qualifying process for sides from Asia for the 2020 World T20 in Australia. The UAE must finish within the top three teams out of the six at the competition to advance to the Asia regional finals. Success at regional finals would mean progression to the World T20 Qualifier.

Teams: UAE, Bahrain, Saudi Arabia, Kuwait, Maldives, Qatar

Friday fixtures: 9.30am (UAE time) - Kuwait v Maldives, Qatar v UAE; 3pm - Saudi Arabia v Bahrain

Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

COMPANY%20PROFILE
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Avengers: Endgame

Directors: Anthony Russo, Joe Russo

Starring: Robert Downey Jr, Chris Evans, Scarlett Johansson, Chris Hemsworth, Josh Brolin

4/5 stars 

Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
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COMPANY%20PROFILE
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Family reunited

Nazanin Zaghari-Ratcliffe was born and raised in Tehran and studied English literature before working as a translator in the relief effort for the Japanese International Co-operation Agency in 2003.

She moved to the International Federation of Red Cross and Red Crescent Societies before moving to the World Health Organisation as a communications officer.

She came to the UK in 2007 after securing a scholarship at London Metropolitan University to study a master's in communication management and met her future husband through mutual friends a month later.

The couple were married in August 2009 in Winchester and their daughter was born in June 2014.

She was held in her native country a year later.

Mountain%20Boy
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