Emirates is one of the airlines included in the TSA's emergency order. Courtesy Emirates
Emirates is one of the airlines included in the TSA's emergency order. Courtesy Emirates

Production of Airbus A380 hinges on Emirates deal



Airbus, the European plane manufacturer, will stop making its A380 superjumbo if it fails to strike a long-term deal with Emirates, the largest operator of the aircraft, which would guarantee a steady order over a decade.

“Quite honestly…if we can’t work out a deal with Emirates, there is no choice but to shut down the programme,” Airbus’ outgoing chief salesman John Leahy told reporters via web cast on Monday.

Emirates are “probably the only ones in the marketplace with the ability” to commit to a minimum of six planes a year for 8-10 years – which is what Airbus needs to make the programme viable, he said.

“But I’m hopeful we can work out a deal with Emirates and then other airlines can add on top,” Mr Leahy added.

Emirates is the largest operator of A380s globally with 100 A380s in operation and 42 more on order. The airline was expected to sign a preliminary order at the Dubai Air Show in November for as many as 36 A380s, but the deal never materialised.

The airline has been pressing Airbus to commit to the future of the double-decker aircraft by guaranteeing a 10-year production line before it will place another order. Emirates has urged Airbus to market the aircraft more widely across the world to ensure future production of the jet. The Toulouse-based manufacturer hasn't sold an A380 in over two years and the aircraft lacks a secondary market.

Last week, Airbus officials were in China on a trade visit and were said to be tapping China as a potential buyer of A380s. The Toulouse-based manufacturer was offering China a production role on the A380 if Chinese airlines order the jet, the Financial Times reported.

On Monday, Airbus’ outgoing chief operating officer, Fabrice Brégier, said “there are clearly other potential customers beyond Emirates”.

Dubai’s flag carrier is still “key for the long-term future of [the A380] programme” and talks with the airline are ongoing, Mr Brégier said.

Airbus sold 1,109 planes last year, 52 per cent higher than 2016, outstripping rival Boeing thanks to a raft of end-of-year deals, including a US$50 billion order for 430 A320neos from US private equity firm Indigo Partners.

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Airbus has held an order lead over Boeing since 2012, helped by Mr Leahy, who is set to retire in the coming weeks and be replaced by Eric Schulz, the former head of aerospace at engine maker Rolls-Royce Holdings.

In its sales update on Monday, Airbus said total deliveries reached 718 aircraft in 2017 – four percent higher than the previous record of 688 in 2016.

“A new Airbus delivery record coupled with our fifth best order intake wraps up a remarkable year for us…and makes the company fitter, stronger and ready for the opportunities ahead,” Mr Brégier said.

Deliveries were dominated by the single-aisle A320, with a total of 558 in 2017 as Airbus moves toward production of 60 planes a month across its assembly lines.

The company also handed over 78 of its newest wide-body A350, while production of the A380 fell to just 15 planes.

Airbus sees “great potential” for the Middle East aviation market in 2018, Mr Leahy told reporters.

“It’s a strong market and it’s recovering. It’s no secret that oil prices are moving back up again – Brent is very close to $70 a barrel and looks to be inching up from there, and the economies tend to be on the mend.

“[Regional] airlines are doing better as they are around the world and we see great potential for the region,” he said.

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Book%20Details
%3Cp%3E%3Cem%3EThree%20Centuries%20of%20Travel%20Writing%20by%20Muslim%20Women%3C%2Fem%3E%3Cbr%3E%3Cstrong%3EEditors%3A%20%3C%2Fstrong%3ESiobhan%20Lambert-Hurley%2C%20Daniel%20Majchrowicz%2C%20Sunil%20Sharma%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EIndiana%20University%20Press%3B%20532%20pages%3Cbr%3E%3C%2Fp%3E%0A
Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

Call of Duty: Black Ops 6

Developer: Treyarch, Raven Software
Publisher:  Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5

ICC T20 Team of 2021

Jos Buttler, Mohammad Rizwan, Babar Azam, Aiden Markram, Mitchell Marsh, David Miller, Tabraiz Shamsi, Josh Hazlewood, Wanindu Hasaranga, Mustafizur Rahman, Shaheen Afridi

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Company%20Profile
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APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Eco%20Way%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20December%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Ivan%20Kroshnyi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Electric%20vehicles%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Bootstrapped%20with%20undisclosed%20funding.%20Looking%20to%20raise%20funds%20from%20outside%3Cbr%3E%3C%2Fp%3E%0A
Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
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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
The five pillars of Islam
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


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