Latest news with #DubaiAirshow
Gulf Today
07-05-2025
- Business
- Gulf Today
Ajman-based Indian father of two wins $1m from Dubai Duty Free draw
Dubai Duty Free has announced the winner of its 500th Millennium Millionaire draw, marking a significant milestone for the long-running promotion that has transformed lives for over 25 years. The celebratory draw took place in Concourse B at Dubai International Airport and was attended by Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman of Dubai Duty Free. His Highness joined the Dubai Duty Free Executive team led by Managing Director, Ramesh Cidambi, to conduct the draw and announce the lucky winner. Venugopal Mullacheri, a 52-year-old Indian national based in Ajman became the 500th winner of $1 million, in Millennium Millionaire Series 500 with ticket number 1163 which he purchased in Terminal 2 Arrivals shop on April 23. A Dubai Duty Free employee show the lucky number of the Millennium Millionaire promotion. A resident of Ajman for more than a decade, Mullacheri watched the live draw on Dubai Duty Free's official Facebook page and was ecstatic to hear his name announced. A regular participant in the Dubai Duty Free's promotion for over 15 years, Mullacheri is a father of two and works as an IT support for a company in Ajman. Commenting on his win, Mullacheri said, 'I'm delighted to become the 500th winner of the Dubai Duty Free Millennium Millionaire. As a long-time participant in this popular promotion, I'm thrilled to finally be one of the many winners it has created. Thank you so much Dubai Duty Free.' Mullacheri, who hails from Kerala is the 249th Indian national to have won $1 million in the Millennium Millionaire promotion since 1999, with Indian nationals being by far the biggest purchasers of tickets. Commenting on the 500th series draw, Dubai Duty Free's Ramesh Cidambi said, 'Our sincere thanks to our Chairman, Sheikh Ahmed Bin Saeed Al Maktoum for joining us for this milestone Millennium Millionaire draw here today. The very first draw was made during the Dubai Airshow back in November 1999 and over the years this promotion has changed people's lives. Congratulations to Mullacheri, our 500th $1 million winner and to all of our many winners over the years.' Also present at the draw were Salah Tahlak, Deputy Managing Director, Sinead El Sibai, SVP – Marketing, Mona Al Ali, SVP – HR, Michael Schmidt, SVP – Retail and Zayed Al Shebli, SVP – Loss Prevention & Corporate Security. Tickets for the milestone series were sold out in 7 days after it went live on April 21 — significantly faster than the average 20-day sales cycle of a regular Millennium Millionaire series. 37% of the tickets were sold out in the first 12 hours. Participants in the Series 500 represent 123 nationalities, with the top three being Indian, British and Pakistani.
Leaders
02-05-2025
- Business
- Leaders
Riyadh Air Signs 11 Strategic MoUs to Boost Global Reach Across 125 Countries
Riyadh Air has signed 11 strategic memoranda of understanding (MoUs) with global partners to drive innovation and enhance the air travel experience. The agreements were finalized during the Arabian Travel Market (ATM) event held in Dubai. These MoUs, formed with key sales and distribution service providers operating in over 125 countries, mark a major step in expanding Riyadh Air's international presence. The partnerships aim to promote the airline's diverse offerings, extend its global reach, and introduce the world to Saudi Arabia's renowned hospitality. Osamah Alnuaiser, Senior Vice President of Marketing and Corporate Communications at Riyadh Air, highlighted that these agreements reaffirm the airline's ambition to become a global player. He noted that the partnerships are built on long-term, mutually beneficial collaboration, with a focus on delivering outstanding travel experiences across Europe, Africa, the Middle East, Asia, Australia, and New Zealand. Related Topics: Riyadh Air Officially Obtains GACA's Operational License 1st Group of Indonesian Pilgrims Departs for Saudi Arabia via Makkah Route Initiative Riyadh Air Unveils Dazzling New Livery at Dubai Airshow, Signaling Fresh Horizon Saudi Civil Defense Issues Alert: Heavy Rains, Flooding Until Tuesday Short link : Post Views: 237 Related Stories
Globe and Mail
01-05-2025
- Business
- Globe and Mail
Still Waiting: Boeing Stock (NYSE:BA) Slips as Boeing Deliveries Hold Up Flydubai
In a bit of news that proves that, perhaps, China's airlines were perhaps a bit short-sighted when they refused delivery of a set of completed airplanes, Flydubai released word that Boeing's shipping schedule is holding up the works on the airline's launch. The news did little to hurt or help Boeing shares, which slipped fractionally in Wednesday afternoon's trading. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Currently, reports noted, Flydubai is waiting for 30 787 aircraft to be supplied. That in turn is slowing the works on Flydubai's planned expansion into the long-haul market, as these are the first wide-body aircraft that Flydubai had ever added to its roster. In fact, Flydubai is sufficiently put out by this delay that it may plan to seek compensation from Boeing for having a delivery schedule that more closely resembles tree growth than an actual calendar. Flydubai agreed to an $11 billion deal for the 787-9 twin-aisle aircraft, from a deal it set up during the 2023 Dubai Airshow. Given that the 2025 Dubai Airshow will take place in mid-November, that means it has been close to two years since they signed that deal, and they are still waiting on delivery. But given other reports that Boeing's backlog stretches back potentially decades, Flydubai probably should have expected this. But Flydubai notes that it has a 'beautiful relationship' with Boeing, and notes, '…there is never any issue we cannot resolve.' An Unexpected Endorsement That was interesting enough, but then, Boeing got an endorsement from one of the most infamous names in stock punditry: Jim Cramer. Cramer recently declared that Boeing shares should climb '…higher and higher,' and offered up some reasons for his assessment that were actually quite reasonable. Cramer notes that Boeing's production schedule is getting back on track, and becoming more predictable, a point that we have already seen taking shape over the last few months. Cramer even went so far as to add the stock to the Bullpen, reports noted, as a possibility emerged that countries may try to avoid tariffs by buying a Boeing plane. Is Boeing a Good Stock to Buy Right Now? Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 15 Buys, three Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 6.25% rally in its share price over the past year, the average BA price target of $200.47 per share implies 10.05% upside potential. See more BA analyst ratings Disclosure
Gulf Insider
30-04-2025
- Business
- Gulf Insider
Dubai Starts Awarding Contracts for Al Maktoum International
Al Maktoum International Airport Dubai has started awarding contracts for Al Maktoum International – which will be the world's largest airport upon completion. 'We did assign contracts and work has really started since His Highness gave the go-ahead over a year ago,' said Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group. Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE and Ruler of Dubai, approved the airport with a final capacity of 260 million. All operations at Dubai International (DXB) will be transferred to Dh128-billion Al Maktoum International (DWC) which will 'fully absorb' DXB's operations in 10 years. 'DXB will continue to serve as the primary hub to meet the needs of 100 million plus guests', the operator of both airports said in a previous press release. 'When we talk about airports of that size, we have to think about how complex that can be. In Dubai, we have been engaging with teams of our two local airlines, airports and dnata and also other airlines that operate here and putting together the plan that lets us make it perfect on the day of the opening. That will, of course, take an extensive programme ahead of the opening date,' said Sheikh Ahmed. 'Just because of the size (of the airport), on the training side, opening for that day, maybe we need about 12 months,' he said, adding that even for the existing terminals, it took around 3-4 months preparations for opening day. 'Because we don't want to see any hiccups on that day.' In an interview with selected local media outlets on Tuesday, Sheikh Ahmed said 2024-25 will be 'another record year' for Emirates Group in terms of numbers. Emirates Group reported its best-ever financial performance with a record profit of Dh18.7 billion last year, up 71 per cent from last year. The group revenue increased 15 per cent to a new high of Dh137.3 billion, driven by strong customer demand across its businesses. It ended 2023-24 highest-ever cash balance of Dh47.1 billion. 'We are very satisfied when it comes to our cash reserves on the airline side,' he said. He noted that the airline also did very well when it comes to hedging fuel. On the retrofitting of the aircraft, he said that the world's largest international carrier is refitting 90 per cent of its fleet. 'We have 261 aircraft, we have over 300 as a new order coming to the team,' he said, hinting that the airline may place an order for more aircraft at the upcoming Dubai Airshow later this year. 'There will be some new announcements at the Dubai Airshow. We are thinking along those lines,' he said. Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group during the press conference at Emirates Pavillion during the second day of the Arabian Travel Market at Dubai World Trade Centre on April 29, 2025. Photo: Muhammad Sajjad In reply to a question about the impact of the global tariff row, Sheikh Ahmed said it is a 'bit early for me to prejudge as we speak today. But I always remain very optimistic. I don't think it affects business. Business is as usual.' He said that some companies and countries are shipping cargo from one place to another due to tariff issues. 'I think sometimes it could be because of a proactive approach by them in a way before things happen. There is nothing wrong with that, not to wait after things happen. I remain optimistic things will be clear and it will be a good 2025.' Emirates chief said the airline is doing 'very well in terms of traffic and seat factor on every point on the whole network. People want to fly. I didn't see any shift in terms of decline in number of people as of today.' While talking about the impact of geopolitical tension, Sheikh Ahmed said airlines are quick and are used to 'quick reaction.' 'The world would never be free from issues that we will always need to be alert all the time. We're seeing this lately within the region and Europe. You have to deal with it,' he added. Also read: Dubai Gold Price Drops – Again – Ahead of April 30's 'Akshaya Trithiya'
The National
29-04-2025
- Business
- The National
ATM 2025: Emirates expects record annual results and is IPO-ready, Sheikh Ahmed says
Emirates expects a "record" annual financial result, said Sheikh Ahmed bin Saeed, chairman and chief executive of Emirates airline and group, adding that if the Dubai government asked the company to list, then he would proceed with it. "We are very satisfied when it comes to our cash reserves on the airline side," he said at a press conference on Monday on the sidelines of the Arabian Travel Market in Dubai. "If they [the Dubai government] say do it [an initial public offering] tomorrow, I have to do it." The airline is currently in the process of retrofitting about 90 per cent of its total fleet and has more than 300 aircraft on its orderbook. "We're also thinking about the Dubai Airshow and maybe there will be some new announcement," Sheikh Ahmed said, declining to specify the size of a potential plane order or the aircraft models.
