Latest news with #Dh3.67
Khaleej Times
19-03-2025
- Business
- Khaleej Times
UAE: Etihad to start daily flights to Ethiopia from October 1
Etihad will start daily nonstop flights from Abu Dhabi to Addis Ababa beginning October 1, the UAE national airline announced on Wednesday, following the signing of a Joint Venture (JV) agreement with Ethiopian Airlines. The Etihad–Ethiopian JV, signed in Addis Adaba, will enable both airlines to collaborate in developing and expanding routes between the UAE and Ethiopia. Addis Ababa marks Etihad's 15th new destination for 2025, while Abu Dhabi becomes Ethiopian Airlines' 145th global destination. 'This partnership is designed to deliver greater value to passengers by strengthening links between Africa, the Middle East, and Asia, resulting in a more seamless and comprehensive combined network,' noted the two national airlines. Ethiopian Airlines will commence services from Addis Ababa Bole International Airport (ADD) to Abu Dhabi International Airport (AUH) on July 15, while Etihad Airways will introduce daily flights to Addis Ababa starting October 1. Around 200,000 Ethiopians are reportedly living and working in the UAE, and Ethiopia is among the countries that the UAE wants to increase its annual exports to. Etihad Airways CEO Antonoaldo Neves added: 'We are excited to extend a warm welcome to Ethiopian travellers visiting Abu Dhabi, where they can experience our renowned hospitality and immerse themselves in the rich culture of our city. From breathtaking beaches and world-class cultural landmarks to thrilling theme parks and tranquil desert landscapes, Abu Dhabi offers a diverse array of attractions for all to enjoy.' Mesfin Tasew, Group CEO of Ethiopian Airlines, for his part, remarked: 'This collaboration (with Etihad) marks a significant milestone in our efforts to enhance connectivity between Africa, the Middle East, and Asia. By leveraging our combined networks, we are committed to providing our passengers with greater travel convenience and exceptional service.' More routes and IPO Strengthening its global presence, the Abu Dhabi-based carrier on Monday announced its third daily flight to Moscow Sheremetyevo Airport (SVO), increasing the service to 21 flights per week. In addition to the Moscow frequency increase, Etihad will also start a new service to Sochi, Russia's premier resort destination on the Black Sea coast, starting May 29. Last week, Etihad also announced a new direct route to Indonesia's popular island destination of Medan commencing on October 2. Meanwhile, Etihad Airways is reportedly set to announce a $1 billion (Dh3.67 billion) initial public offering (IPO), news agency Reuters reported last month, quoting two sources. This comes following Etihad Airways' strong 2024 performance, including a Dh1.7-billion profit after tax. Etihad noted 'the record profit was driven by Dh20.8 billion in passenger revenue and Dh4.2 billion in cargo revenue, alongside significant operational efficiency improvements.' The national airline carried 18.5 million passengers last year, up by 32 per cent from 2023, 'reflecting strong and sustained demand across its expanding network.' Last year, Etihad expanded its operations to more than 1,700 weekly flights and increased frequencies on 25 routes over the past two years. It also launched more than 20 new destinations, such as Boston, Jaipur, Bali, and Nairobi, alongside summer hotspots like Antalya, Nice, and Santorini – aside from adding 10 more cities this year. If the stock launch pushes through, Etihad would be the second company this year to offer shares to institutional and individual investors. Etihad would also become the second UAE airline to go on public listing, nearly 20 years after Air Arabia was listed on the Dubai Financial Market in July 2007.
Khaleej Times
15-03-2025
- Business
- Khaleej Times
UAE: New Etihad Airways route to Indonesia's Medan now open for bookings
Etihad Airways' new direct route to Indonesia's popular island destination of Medan is now open for booking, the airline said in a statement. Flights between Kualanamu International Airport and Zayed International Airport will commence on October 2, 2025. Medan is the capital and largest city of North Sumatra in Indonesia and it is known for its vibrant culture, diverse culinary scene, and historical landmarks. Etihad Airways, the national airline of the UAE, is set to fly three times a week to the popular destination using the new Airbus A321LR aircraft. Etihad's flight EY480 will depart Abu Dhabi at 20.45pm to reach Medan at 6.45am on Tuesdays, Thursdays and Saturdays. Flight EY481 will take off from Medan at 8.45am to land in Abu Dhabi at 12.40pm every Wednesday, Friday and Sunday. New destinations The destination is one of 14 already announced by Etihad this year, with more expected to come. The new destinations that will be introduced starting July 2025 onwards, also include Atlanta, Taipei, Phnom Penh, Krabi, Tunis, Chiang Mai, Hong Kong, Hanoi and Algiers. 'For a lot of these cities, ours will be the only non-stop flight from the UAE. So if you want to go to Medan (in North Sumatra), there will be no other flights outside of Abu Dhabi,' said Arik De Chief, Revenue and Commercial Officer at Etihad. A lot of the flights have been optimised to connect to Europe. 'If you want to go from Hanoi (Vietnam) to Paris, there is a lot of French influence in Vietnam. Etihad has the fastest connectivity than any other airlines in the region. So, we've put a lot of focus on the route network from Asia,' he added. Etihad forecasts 2025 to be the 'biggest year in Etihad's history', expecting to carry more than double the 10 million passengers it carried last year, to over 90 destinations compared to 64 in 2022. 'We have 95 planes today and 18 to 19 million passengers and we will get go 115 operating planes next year,' said its chief executive Antonaldo Neves. The airline is reportedly set to announce a $1 billion (Dh3.67 billion) initial public offering (IPO), Reuters new agency reported last month, quoting two sources.
Khaleej Times
15-03-2025
- Business
- Khaleej Times
Dh367 million for a bunker? Luxury underground homes are the new trend for ultra-rich
Forget man caves. Luxury underground bunkers are becoming the must-have for high-net-worth individuals these days, with bowling alleys, medical centres and even secret passageways being built inside them. It's part planning for a disaster, part creating some extra space to enjoy luxury home living. When it comes to designing your bunker, your imagination really is the limit. Swimming pools, saunas, staff quarters, state-of-the-art gyms and climate-controlled rooms to store your art collection are becoming the norm, according to developers. One of the biggest underground bunker companies is Strategically Armored & Fortified Environments (SAFE), based in Virginia, US. Naomi Corbi, director, Medical Preparedness at SAFE, says: 'Trends have always been client-specific, whether it's fiery moats, Formula 1 racing circuits, or impenetrable museums for world-class collections.' Stay up to date with the latest news. Follow KT on WhatsApp Channels. These features don't come cheap, and a completely outfitted shelter begins at approximately $1 million (Dh3.67 million), although SAFE has completed projects in excess of $100 million (Dh367 million), too. The company is working on an ultra-secure bunker in the US which will have blast-proof doors, unbreakable windows and biometric door-entry systems. There's even a 30-foot-deep moat with a swing bridge, plus water cannons capable of taking out helicopters and drones. 'Bodies of water have and will always play a significant role in security solutions as they provide formidable defences,' adds Corbi. For the ultra-wealthy, safety and security have always been of paramount importance, and bunkers give them the opportunity to really splash out underground while maintaining their luxury lifestyles. Tech billionaires like Meta CEO Mark Zuckerberg are also fuelling demand with their lavish creations. Zuckerberg is reported to be building a 1,400-acre compound with its own private bunker on the Hawaiian island of Kauai. Going mainstream However, underground living experts have observed that bunkers and panic rooms are becoming more mainstream, and less the sole preserve of the ultra wealthy. Steven Humble, president at Creative Home Engineering, said: 'In the early days, there were a lot of bunkers that were geared more towards showing off to friends even at the expense of genuine security. But over the last several years I've noticed that clients are getting much more focused on actual security and less on kitch. We've also seen increased demand from the lower end of the market.' SAFE's Corbi agrees, and says while billionaires have always been wise to dangers, her team is getting far more inquiries from millionaires who might traditionally have been content with standard security measures. Creative Home Engineering specialises in making high security doors for bunkers and panic rooms, and has seen strong demand for camouflaged entry. 'Nowadays, it is very easy for criminals to go online and learn the tools and techniques required to breach overt security doors,' he explains. Both clients and the security firms they've contracted now want a security door that is hidden when it is in the closed position. 'The majority of our security doors are either pocket doors that disappear when left open, or they're secret passageway doors that look like bookcases, mirrors, brick walls, when in the closed position,' he adds. Humble's company recently built a giant working rotating fireplace that swivels to reveal the underground entrance to a shooting range. Very James Bond. Health first Medical care, wellness and longevity have become top priorities among the rich, and this is filtering down into the bunker world. While traditional bunkers were once designed purely for security and survival, today's high-net-worth individuals are looking for a fully integrated lifestyle experience that ensures their long-term health and well-being needs. SAFE's medical suites are designed to rival, and in some cases surpass, the level of care found in top-tier US hospitals. Corbi, a trained nurse herself, compares them to the White House Medical Unit, offering everything from general wellness and preventative medicine to fully equipped intensive care units (ICUs). Fallout When it comes to the reasons why people decide to build an underground bunker, there is an element of Doomsday prepping, or more accurately, 'having a back-up plan', according to Dante Vicino, executive director at The Vivos Group, which specialises in renovating military-grade bunkers. His company's strapline is, 'The backup plan for humanity'. He has seen a trend among families wanting to have their bunker as a second home more than ever before. 'I think the desire to have the place set up for long-term residency with creature comforts is growing,' he says. Business has been helped by popular TV shows like Fallout, Paradise and Silo, which all take place in huge underground communities in a post-apocalyptic world. In fact, Vivos is offering a large-scale facility with one base able to hold up to 800 members, similar to Fallout. It's much cheaper than having your own private bunker and you get to live within a community. The bunkers that Vicino deals with are inherently secure from all kinds of natural disasters and man-made attacks by design as they are made of very thick concrete, typically with double rebar construction. Vivos' bunkers are already built by previous entities, like the US Government, so his company turns them into livable spaces, transforming the bunker into a personalised home with bedrooms, kitchens, and living areas. The community shares amenities like a pool, restaurant, and gym to enhance the quality of life while building a neighbourhood of sorts. This appeals to libertarians who want more control over their day-to-day lives and less government intervention. 'You'll enjoy off-the-grid living powered by solar panels and generators, allowing for comfortable, independent living,' says Vicino. Vivos is currently building a network of hardened underground shelters strategically located around the world, within reach of the major regions they serve. At full build-out, its goal is to be able to accommodate about one in every million people on Earth. 'Though there's plenty of talk of luxury, we have always strived to be attainable to as many people as possible through fair pricing and non-discrimination. Not only the rich can afford bunkers,' he says. Built to last Shelters built underground automatically make them resilient to surface temperatures. And in order to sustain blast impacts, shelters are normally constructed with thick concrete walls, which further insulates and regulates interior temperatures. These give it natural advantages when it comes to extreme temperatures, for anyone worried about global warming. And with the ability to withstand temperatures in excess of 80 degrees, they could become welcome respites from the brutal Middle East summers. Underground bunker experts are seeing more demand in this region, and many have built structures for wealthy individuals and governments in this part of the world. While confidentiality is sacred in this sector, one spoke of large-scale survival compounds featuring sustainable energy solutions, food production, and military-grade security it built in Saudi Arabia. 'The demand for secure, high-tech survival solutions in the Middle East is growing rapidly, and we continue to push the boundaries of what's possible in private security, medical innovation, and long-term sustainability,' adds Corbi. And is there anything that can be built in a bunker? 'Sometimes the clients are afraid that their request or security need is really unusual and I assure them that this is all we do every day,' says Humble. Firey moat, anyone?
Khaleej Times
25-02-2025
- Business
- Khaleej Times
Abu Dhabi: Will Etihad launch IPO after 2024's Dh1.7-billion profit?
The UAE's national airline, Etihad Airways, is reportedly set to announce a $1 billion (Dh3.67 billion) initial public offering (IPO) this week, news agency Reuters reported on Tuesday, quoting two sources. If the stock launch pushes through, Etihad would be the second company this year to offer shares to institutional and individual investors, following the announcement by Alpha Data early this month to list on the Abu Dhabi Securities Exchange (ADX). Etihad would also become the second UAE airline to go on public listing, nearly 20 years after Air Arabia was listed on the Dubai Financial Market in July 2007. Khaleej Times reached out to Etihad but has not received a response confirming or denying the report. This is not the first time news about Etihad Airways making a stock market debut has hit the headlines. Reuters reported as early as September last year that the Abu Dhabi-based carrier, owned by investment and holding company ADQ, would go public 'no sooner than 2025'. An airline spokesperson earlier told Khaleej Times: 'Etihad does not comment on rumour or speculation.' Quoting two sources, Reuters noted the soon-to-be Etihad IPO would comprise 20 per cent of the business or 2.7 billion in primary shares, 'in which proceeds go back to the company rather than the main shareholder.' The selling of new shares will fund Etihad's growth ambitions under its "Journey 2030" strategy, the sources said. Strong performance in 2024 Last week, Etihad Airways announced a strong 2024 performance across all key metrics with a Dh1.7-billion profit after tax. Etihad noted the record profit was driven by Dh20.8 billion in passenger revenue and Dh4.2 billion in cargo revenue, alongside significant operational efficiency improvements. The national airline carried 18.5 million passengers last year, up by 32 per cent from 2023, 'reflecting strong and sustained demand across its expanding network.' Last year, Etihad expanded its operations to more than 1,700 weekly flights and increased frequencies on 25 routes over the past two years. It also launched more than 20 new destinations, such as Boston, Jaipur, Bali, and Nairobi, alongside summer hotspots like Antalya, Nice, and Santorini – aside from adding 10 more cities this year. Etihad is also adding to its fleet 12 aircraft, including six A320 NEOs, and the re-entry into service of its fifth A380. The airline now operates the youngest and most fuel-efficient fleet in the region, supporting its ESG (environmental, social and governance) strategy to minimise carbon emissions while enhancing its service offerings.
