Emirates boss eyes a la carte business travel and no more ‘Darth Vader’ masks

Emirates boss eyes a la carte business travel and no more ‘Darth Vader’ masks
Gulf carriers including Emirates have been stung by the collapse of air travel in general and especially the decline in the premium cabin segment. (Shutterstock)
Short Url
Updated 25 May 2021

Emirates boss eyes a la carte business travel and no more ‘Darth Vader’ masks

Emirates boss eyes a la carte business travel and no more ‘Darth Vader’ masks
  • Now carriers are rapidly re-thinking how business class travel is likely to contribute to future earnings

DUBAI: Business class passengers will be able to choose which elements of premium travel they pay for post-pandemic as the industry adapts to changing customer demand said Emirates President Sir Tim Clark.
“In the past we never had the tools to be able do that, to create an 'a la carte' menu for business class travel, which allows you to pick and chose and the various price points that go with it,” Clark told aviation consultant John Strickland in an interview for Dubai’s Arabian Travel Market trade show.
“I think that’s a very smart thing to do. We’ve seen how it works with low cost but perhaps that’s been a little bit more controversial. The value proposition in doing that is really quite staggering if you get it right. And we are not alone in doing that . In the end automation allows us to do all of that even in the economy cabin as well.”
Gulf carriers including Emirates have been stung by the collapse of air travel in general and especially the decline in the premium cabin segment where they have been able to generate huge profits in the past. The top deck of its workhorse double decker Airbus A380 has been devoted entirely to premium travel with it’s famous onboard bar a big draw for business class passengers.
Now carriers are rapidly re-thinking how business class travel is likely to contribute to future earnings, with the leisure segment expected to lead the industry out of its current trough.
However Clark insisted that air travel would eventually emerge from the restrictions it now faces and the flying experience would revert to pre-pandemic times.
“It will all go away,” he said. “So the notion that you have our crew clad like ‘Darth Vader with PPE masks and visors inhibiting what we are really good doing — that will go. You’ve got to believe that.”

 


Global unemployment set to exceed pre-COVID-19 levels going into 2023

Global unemployment set to exceed pre-COVID-19 levels going into 2023
Updated 8 sec ago

Global unemployment set to exceed pre-COVID-19 levels going into 2023

Global unemployment set to exceed pre-COVID-19 levels going into 2023

Global unemployment is expected to remain above pre-pandemic levels until at least 2023, the International Labor Organization said in a report.

The number of jobless people is set to be 207 million in 2022, higher than 186 million recorded in 2019. 

The report added that the actual effect on employment might be much larger as many people left the labor force.

The 2022 global participation rate is predicted to be 1.2 percent lower than that of 2019, the organization added.

The slump in 2022 forecasts could be attributed to the new COVID-19 variants and the uncertainty of the pandemic.

“There can be no real recovery from this pandemic without a broad-based labor market recovery. And to be sustainable, this recovery must be based on the principles of decent work – including health and safety, equity, social protection and social dialogue,” Guy Ryder, ILO Director-General, said.

The organization also forecasts working hours in 2022 to be lower than the 4Q 2019 level by the equivalent of 52 million full-time jobs. This is much higher than the previous estimate – made in May 2021 – of the equivalent to 26 million full-time jobs.


Global unemployment set to exceed pre-COVID-19 levels going into 2023

Global unemployment set to exceed pre-COVID-19 levels going into 2023
Updated 27 sec ago

Global unemployment set to exceed pre-COVID-19 levels going into 2023

Global unemployment set to exceed pre-COVID-19 levels going into 2023

Global unemployment is expected to remain above pre-pandemic levels until at least 2023, the International Labor Organization said in a report.

The number of jobless people is set to be 207 million in 2022, higher than 186 million recorded in 2019. 

The report added that the actual effect on employment might be much larger as many people left the labor force.

The 2022 global participation rate is predicted to be 1.2 percent lower than that of 2019, the organization added.

The slump in 2022 forecasts could be attributed to the new COVID-19 variants and the uncertainty of the pandemic.

“There can be no real recovery from this pandemic without a broad-based labor market recovery. And to be sustainable, this recovery must be based on the principles of decent work – including health and safety, equity, social protection and social dialogue,” Guy Ryder, ILO Director-General, said.

The organization also forecasts working hours in 2022 to be lower than the 4Q 2019 level by the equivalent of 52 million full-time jobs. This is much higher than the previous estimate – made in May 2021 – of the equivalent to 26 million full-time jobs.


Saudi-based glass maker’s IPO price set at $21 per share

Saudi-based glass maker’s IPO price set at $21 per share
Getty Images
Updated 6 min 27 sec ago

Saudi-based glass maker’s IPO price set at $21 per share

Saudi-based glass maker’s IPO price set at $21 per share

RIYADH: Saudi Arabian glass maker Raoom Trading Co.’s initial public offering price has been set at SR80 ($21.3) per share.

This comes as the firm plans to list on Saudi Arabia’s parallel market, Nomu.

The offering period will start on Jan. 30 and run through Feb. 3, 2022, the financial advisor of the offer, Wasata Capital, said in a bourse statement.

Earlier, Raoom Trading had announced the prospectus for floating one million shares, representing 20 percent of the company’s share capital.

Established in 1992, Raoom Trading is based in the Kingdom's city of Buraydah.


Housing crisis shrinks China’s property sector 

Housing crisis shrinks China’s property sector 
Updated 8 min 59 sec ago

Housing crisis shrinks China’s property sector 

Housing crisis shrinks China’s property sector 

The housing crisis in China caused output in the property sector to narrow by 2.9 percent in the final quarter of last year, accelerating from the 1.6 percent decline in the previous quarter.

This is the first back-to-back quarterly slump in the sector’s production, Bloomberg reported.

In addition, the country’s construction sector suffered from a 2.1 percent contraction, according to data from the National Bureau of Statistics.

When combined, these two sectors make up 13.8 percent of GDP output in 2021.

The Chinese government’s efforts to alleviate restrictions in the sector didn’t prevent developers from reporting lower sales, investments, land purchasing and financing activities.

According to calculations made by Bloomberg, property investment fell 14 percent in December from a year ago.


India's Prime Minister Modi calls for global crypto cooperation

India's Prime Minister Modi calls for global crypto cooperation
Getty Images
Updated 17 min 40 sec ago

India's Prime Minister Modi calls for global crypto cooperation

India's Prime Minister Modi calls for global crypto cooperation

RIYADH: India's Prime Minister Narendra Modi called on governments around the world to cooperate in the field of cryptocurrency, at the World Economic Forum’s virtual Davos Agenda conference on Monday.

Modi pointed out that the type of technology accompanying it and the decisions made by any single country will not be sufficient to deal with its challenges, Bitcoin.com reported.

“The challenges we have been facing are also increasing. To counter these, there is a need for collective and synchronized action by every country, every global agency. These supply chain disruptions, inflation, and climate change are examples of these. Another example is cryptocurrency,” he said.

This is not the first time that Prime Minister Modi has called on countries to cooperate in the field of cryptocurrency.

In December last year, he said at the summit hosted by US President Joe Biden that cryptocurrency should be used to enable democracy.

While in November he urged countries to collaborate on bitcoin and cryptocurrency to ensure that they do not fall into the wrong hands.

Meanwhile, El Salvador's president Nayib Bukele expects two more countries will adopt Bitcoin as legal tender and also predicts that Bitcoin will reach $100,000 this year.

El Salvador made Bitcoin legal tender alongside the dollar in September.

"2022 predictions on Bitcoin: will reach $100k, more countries will adopt it as legal tender, will become a major electoral issue in US elections this year, bitcoin City will commence construction and Volcano bonds will be oversubscribed," Bukele tweeted.