Qantas completes longest non-stop New York-Sydney flight

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Qantas CEO Alan Joyce, bottom right, welcomes the crew of a Qantas Boeing 787 Dreamliner after the completion of a non-stop test flight from New York to Sydney. (AFP)
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The Boeing 787 Dreamliner touched down in Sydney early Sunday morning. (File/AP)
Updated 21 October 2019

Qantas completes longest non-stop New York-Sydney flight

  • The flight was 19 hours and 16 minutes long
  • Qantas says tests ranged from monitoring pilot brain waves, melatonin levels and alertness to exercise classes for passengers

SYDNEY: Australia’s Qantas on Sunday completed the first non-stop commercial flight from New York to Sydney, which was used to run a series of tests to assess the effects of ultra long-haul flights on crew fatigue and passenger jetlag.

The Boeing 787 Dreamliner touched down in Sydney early on Sunday morning after a flight of 19 hours and 16 minutes — the world’s longest.

Qantas said tests ranged from monitoring pilot brain waves, melatonin levels and alertness to exercise classes for passengers. A total of 49 people were on board, in order to minimize weight and give the necessary fuel range.

“Overall, we’re really happy with how the flight went and it’s great to have some of the data we need to help assess turning this into a regular service,” said Capt. Sean Golding, who led the four pilots.

The flight was part of Project Sunrise — Qantas’ goal to operate regular, non-stop commercial flights from Australia’s east coast cities of Brisbane, Sydney and Melbourne to London and New York. Two more research flights are planned as part of the project evaluations — London to Sydney in November and another New York to Sydney in December.

 

 

“We know ultra long-haul flights pose some extra challenges but that’s been true every time technology has allowed us to fly farther. The research we’re doing should give us better strategies for improving comfort and wellbeing along the way,” said Qantas Group CEO Alan Joyce.

Night flights usually start with dinner and then lights off, but he said that for this flight, “we started with lunch and kept the lights on for the first six hours, to match the time of day at our destination. It means you start reducing the jetlag straight away.”

Prof. Marie Carroll from the University of Sydney said that she and fellow passengers did a lot of stretching and group exercises at prescribed intervals.

“We did the macarena in the economy cabin,” she said.

 

Decoder

Project Sunrise

Project Sunrise is Qantas’ goal to operate regular, non-stop commercial flights from Australia’s east coast cities to London and New York.


UBS fined $51 million by Hong Kong regulator for overcharging clients

Updated 11 November 2019

UBS fined $51 million by Hong Kong regulator for overcharging clients

  • Hong Kong regulator’s investigation exposed ‘serious systemic internal control failures’ at the bank
  • In March, the Securities and Futures Commission banned UBS from leading initial public offerings in Hong Kong for a year

HONG KONG: Swiss bank UBS was fined HK$400 million ($51.09 million) by Hong Kong’s securities regulator for overcharging up to 5,000 clients for nearly a decade, the watchdog said on Monday.
The Hong Kong Securities and Futures Commission (SFC) said in a statement that an investigation found UBS had overcharged clients on ‘post-trade spread increases’ and charges in excess of standard disclosures and rates between 2008 and 2017.
THE SFC said the investigation exposed ‘serious systemic internal control failures’ at the bank. UBS had failed to disclose conflicts of interests and had overcharged some clients in ‘opaque’ trades, it said.
The overcharging affected 5000 Hong Kong managed client accounts in about 28,700 transactions, it said.
UBS has also agreed to repay the clients HK$200 million, the SFC said.
The regulator said the over-charging occurred in the bank’s wealth management division on bond and structured notes transactions.
UBS was found to have increased the spread charged after the execution of a trade without the clients’ knowledge, it said.
In the statement, the SFC said UBS was also found to have falsified some account statements which were issued to financial intermediaries who were authorized to trade for the clients to “conceal the overcharges.”
UBS said the issues were ‘self-reported’ to the SFC and the results found were against the bank’s standard practice.
“The relevant conduct predominantly relates to limit orders of certain debt securities and structured note transactions, which account for a very small percentage of the bank’s order processing system,” the bank said in a statement.
SFC chief executive Ashley Alder said while each “overcharge represented a fraction of each trade” the bank’s “misconduct involved decisions and a pervasive abuse of trust resulting in significant additional revenue for UBS to which it was not entitled.”
In March, the SFC banned UBS from leading initial public offerings in Hong Kong for a year after it found the bank, and some of its rivals, had failed to carry out sufficient due diligence on a number of deals.
UBS was fined HK$375 million while Morgan Stanley was fined HK$224 million, Merrill Lynch HK$128 million and Standard Chartered (StanChart) HK$59.7 million, all for failures when sponsoring, or leading, public market floats.