Aircraft and engine manufacturers must focus on tightening quality controls internally, Wizz Air chief executive Jozsef Varadi said, following the incident of an Alaska Airlines Boeing 737 Max jet's cabin panel blowing off mid-air earlier this month.
While Wizz Air is an all-Airbus operator, Mr Varadi said greater scrutiny into quality processes will result in an industry-wide slowdown in production expansion and technological innovations.
“The problem is more around quality. Clearly, the regulator is taking a more scrutinising approach, [and] rightly so … and I think manufacturers of engines and aeroplanes will have to take a more self-help approach to enhance their internal quality control. This is the right step,” Mr Varadi told The National on Thursday.
What takes five years in the R&D cycle now may take 10 years in the future because of the higher level of scrutiny and standards
Jozsef Varadi
“What it means for the industry is that the expansion of manufacturing is going to slow down because of more scrutiny. I also think that technology innovation will slow down.
"What takes five years in the R&D [research and development] cycle now, may take 10 years in the future because of the higher level of scrutiny and standards,” he said.
“We will move slower but with better quality.”
The US Federal Aviation Regulator on Wednesday halted any production expansion of the Boeing 737 Max until quality control issues are resolved. The US aviation regulator's order means that the plane maker can continue producing 737 Max jets at the current monthly rate, but it cannot increase that rate.
The FAA's decision disrupts Boeing's growth plans in a period of soaring demand for aircraft and heated competition with its European arch-rival Airbus amid an unrelenting boom in air travel.
Middle East plans
Wizz Air's boss on Thursday also outlined the low-cost carrier's plans for the Middle East.
The airline will restart some flights from European cities to Tel Aviv starting on March 1, after suspending operations to Israel following the start of the Gaza war in October.
It is returning only 20 per cent of its prewar capacity to the Israeli market with plans to operate three weekly flights each from Budapest, Bucharest, London, Krakow and Rome to Tel Aviv.
The decision to resume some flights to Israel comes after high levels of scrutiny into security and safety and a “much improved situation for flying”, but demand will restart from a relatively lower base, Mr Varadi said.
“It will be a skeleton network with skeleton frequencies, so we would have roughly 20 per cent of the previous capacity prior to the war and we think demand will gradually come back up and we will be adding capacity accordingly,” he said.
“The demand we're seeing is essentially Israelis flying in and out … we are not yet seeing demand for tourism.”
Demand is expected to build up gradually within six to nine months, he added.
Travel demand for the Middle East region is broadly unaffected by the Israel-Gaza war, with no impact seen in markets such as the UAE and Saudi Arabia, but the airline continues to monitor the situation, Mr Varadi said.
Dubai-based Emirates has suspended flights to Tel Aviv, while its sister airline flydubai operates four flights a day to Ben Gurion Airport but continues to monitor the situation closely and amend its schedule accordingly.
'Flat' capacity
Wizz Air is one of the airlines facing disruptions from grounding its Airbus narrow-body aircraft because of mandatory inspections of Pratt & Whitney’s geared turbofan engines. The engine maker said they were at risk due to a powder metal defect that could lead to the cracking of some engine components.
“We are expecting capacity to be largely flat in the next financial year and this is the guidance we're giving to the market,” Mr Varadi said.
However, there are some variations by market, with Wizz Air Abu Dhabi to grow capacity by 25 per cent in the next financial year to pursue growth opportunities, he said.
“We're very excited about the Abu Dhabi opportunities and we continue to push for growth in the market,” Mr Varadi said.
“The Middle East, especially the Gulf, will remain growth markets for Wizz Air.”
Wizz Air Abu Dhabi, a joint venture between Hungary's Wizz Air Holding and Abu Dhabi state holding company ADQ, in November operated its first flight from Abu Dhabi International Airport's new Terminal A.
The outlook
Wizz Air posted a net loss of €105.4 million ($115 million) in the third quarter, compared with €33.5 million in profit in the same period last year, it said on Thursday.
The airline's fiscal year ends in March 31.
This was mainly due to disruptions from grounding some aircraft and removing capacity from the Israeli market, Mr Varadi said.
However, the airline maintained its full-year net income guidance range of €350 million to €400 million, supported by positive trading, higher utilisation of operational fleet, one-off benefits from the engine maker cost compensation and credits from deferred sale and leaseback transactions materialising in the fourth quarter.
“I’d say that we’re back into solid profitability,” Mr Varadi said of the fiscal year.
GROUP RESULTS
Group A
Results
Ireland beat UAE by 226 runs
West Indies beat Netherlands by 54 runs
Group B
Results
Zimbabwe tied with Scotland
Nepal beat Hong Kong by five wickets
UAE currency: the story behind the money in your pockets
The specs: 2018 Maxus T60
Price, base / as tested: Dh48,000
Engine: 2.4-litre four-cylinder
Power: 136hp @ 1,600rpm
Torque: 360Nm @ 1,600 rpm
Transmission: Five-speed manual
Fuel consumption, combined: 9.1L / 100km
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
If you go
The flights Etihad (www.etihad.com) and Spice Jet (www.spicejet.com) fly direct from Abu Dhabi and Dubai to Pune respectively from Dh1,000 return including taxes. Pune airport is 90 minutes away by road.
The hotels A stay at Atmantan Wellness Resort (www.atmantan.com) costs from Rs24,000 (Dh1,235) per night, including taxes, consultations, meals and a treatment package.
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2a)
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FORSPOKEN
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Company%20of%20Heroes%203
%3Cp%3EDeveloper%3A%20Relic%20Entertainment%3Cbr%3EPublisher%3A%20SEGA%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%3Cbr%3ERelease%20date%3A%20February%3C%2Fp%3E%0A
Star%20Wars%20Jedi%3A%20Survivor
%3Cp%3EDeveloper%3A%20Respawn%20Entertainment%0D%3Cbr%3EPublisher%3A%20Electronic%20Arts%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%0D%3Cbr%3ERelease%20date%3A%20March%3C%2Fp%3E%0A
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Final%20Fantasy%20XVI
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Street%20Fighter%206
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Diablo%20IV
%3Cp%3EDeveloper%3A%20Blizzard%20Entertainment%0D%3Cbr%3EPublisher%3A%20Blizzard%20Entertainment%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%0D%3Cbr%3ERelease%20date%3A%20June%3C%2Fp%3E%0A
Baldur's%20Gate%203
%3Cp%3EDeveloper%3A%20Larian%20Studios%0D%3Cbr%3EPublisher%3A%20Larian%20Studios%0D%3Cbr%3EConsole%3A%20PC%0D%3Cbr%3ERelease%20date%3A%20August%3C%2Fp%3E%0A
The%20Legend%20of%20Zelda%3A%20Tears%20of%20The%20Kingdom
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Marvel's%20Spider-Man%202
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Assassin's%20Creed%20Mirage
%3Cp%3EDeveloper%3A%20Ubisoft%0D%3Cbr%3EPublisher%3A%20Ubisoft%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%2C%20Amazon%20Luna%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
Starfield
%3Cp%3EDeveloper%3A%20Bethesda%20Game%20Studios%0D%3Cbr%3EPublisher%3A%20Bethesda%20Softworks%0D%3Cbr%3EConsole%3A%20PC%2C%20Xbox%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
Who is Allegra Stratton?
- Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
- Took up a public relations role for Chancellor Rishi Sunak in April 2020
- In October 2020 she was hired to lead No 10’s planned daily televised press briefings
- The idea was later scrapped and she was appointed spokeswoman for Cop26
- Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
- She has strong connections to the Conservative establishment
- Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
Coming soon
Torno Subito by Massimo Bottura
When the W Dubai – The Palm hotel opens at the end of this year, one of the highlights will be Massimo Bottura’s new restaurant, Torno Subito, which promises “to take guests on a journey back to 1960s Italy”. It is the three Michelinstarred chef’s first venture in Dubai and should be every bit as ambitious as you would expect from the man whose restaurant in Italy, Osteria Francescana, was crowned number one in this year’s list of the World’s 50 Best Restaurants.
Akira Back Dubai
Another exciting opening at the W Dubai – The Palm hotel is South Korean chef Akira Back’s new restaurant, which will continue to showcase some of the finest Asian food in the world. Back, whose Seoul restaurant, Dosa, won a Michelin star last year, describes his menu as, “an innovative Japanese cuisine prepared with a Korean accent”.
Dinner by Heston Blumenthal
The highly experimental chef, whose dishes are as much about spectacle as taste, opens his first restaurant in Dubai next year. Housed at The Royal Atlantis Resort & Residences, Dinner by Heston Blumenthal will feature contemporary twists on recipes that date back to the 1300s, including goats’ milk cheesecake. Always remember with a Blumenthal dish: nothing is quite as it seems.
Killing of Qassem Suleimani
Quick%20facts
%3Cul%3E%0A%3Cli%3EStorstockholms%20Lokaltrafik%20(SL)%20offers%20free%20guided%20tours%20of%20art%20in%20the%20metro%20and%20at%20the%20stations%3C%2Fli%3E%0A%3Cli%3EThe%20tours%20are%20free%20of%20charge%3B%20all%20you%20need%20is%20a%20valid%20SL%20ticket%2C%20for%20which%20a%20single%20journey%20(valid%20for%2075%20minutes)%20costs%2039%20Swedish%20krone%20(%243.75)%3C%2Fli%3E%0A%3Cli%3ETravel%20cards%20for%20unlimited%20journeys%20are%20priced%20at%20165%20Swedish%20krone%20for%2024%20hours%3C%2Fli%3E%0A%3Cli%3EAvoid%20rush%20hour%20%E2%80%93%20between%209.30%20am%20and%204.30%20pm%20%E2%80%93%20to%20explore%20the%20artwork%20at%20leisure%3C%2Fli%3E%0A%3C%2Ful%3E%0A
TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
THE BIO:
Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.
Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.
Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.
Personal motto: Believe it and you can achieve it.
Company%20profile
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The five pillars of Islam
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
UAE currency: the story behind the money in your pockets
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
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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Syria squad
Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.
