Almost a year since it entered universal vocabulary, most people on the planet can cite Covid-19 for disrupting their life in some form. That is vividly true where many livelihoods are concerned as jobs have been axed, career paths forcibly re-assessed and life strategies re-tailored.
Such was the case for pilots Fabio Carnevali and Luca Versetti, whose employment ceased with little prospect of returning to the skies.
With growing families to support, the Italian friends drew on the calm their profession demands when faced with unexpected drama.
“The priority was to survive, pay the bills, feed the kids, to keep everything in place and think without panicking,” says father of two daughters Mr Carnevali, who was laid off by Etihad in July last year.
“A pilot is always put in a situation where stress is the main factor, because of the potential for bad weather or systems failure … in that situation, a pilot needs to react.”
Having only known a career in aviation, options for Mr Carnevali, 46, could have been limited, like thousands of pilots dismissed by airlines globally as Covid-19 crippled travel.
Mr Carnevali and Mr Versetti, 41, had previously discussed having their own business before the latter left Etihad last February for another airline. When that job was rescinded, timing and necessity pushed the friends to launch Global Flight Solutions in the summer.
They noted how once regular first or business class travellers were choosing to charter aircraft, sometimes clubbing together and overlooking commercial flights due to pandemic fears.
Abu Dhabi-headquartered GFS began providing ground handling and flight support for private jets and has grown “extremely fast” ever since.
“We reacted immediately,” says Mr Versetti, who has two children aged seven and three.
“This idea was going around for a while, but when you are in the comfort zone, it’s very difficult to unplug and then plug into something where you don’t know if there’s electricity.”
Mr Versetti, a UAE resident for 13 years, was about to make a down payment on a family home in Majorca, Spain, when Covid-19 grounded airlines.
“My initial thought was ‘this job is finished for the next five years … what can I do with my knowledge’,” he says from GFS’s Milan office. “We saw the opportunity and understood the critical moment.”
Mr Carnevali had insurance protection against illness and loss of flight licence, and a house in Italy as his “last resource”.
But he says he called upon one of a pilot’s main attributes when redundancy struck: resilience to overcome a situation and think forward. In this case, by creating a scenario where he could “get hired by yourself”.
“We tried to react together, to put our ideas on the table, develop our business model,” he says.
“Our knowledge and experience was at a level to have a good chance of success … it was and still is a big risk, but the results are good.”
He adds: “If you wait to be lucky in life, nothing is going to happen.”
However, not everyone can be so pragmatic or resourceful when facing a seismic shift in circumstances – or the associated financial ramifications.
Conscious Finance Coaching founder Carol Glynn says it is a “time to take stock”, not panic and “if you are not doing it already on a regular basis, analyse your financial situation”.
She urges people to document cash in accounts, assets such as cars, property and investments and their liquidity, and liabilities including loans, credit cards and mortgages.
“Using this information, calculate your net worth,” she says. “That is total assets, minus total liabilities, and will tell you how much you have in assets should you need to use them to pay your expenses.
“It will also give you an understanding of what debt you have to maintain until you find a new income source.”
Your net worth will tell you how much you have in assets should you need to use them to pay your expenses
She suggests examining expenditure next – split between needs, such as rent, utility bills, mobile phone and groceries, and wants, such as subscriptions and eating out – and seek ways to reduce costs and spending, perhaps via cheaper accommodation or shopping habits.
“When you have reviewed your expenditure and decided on your core needs, use the total to calculate how many months of cash you have available … essentially your emergency fund,” she says.
“These steps should also be followed if you are considering leaving your career and starting a new business.”
Cecilia Carlsward resigned as chief executive of an industrial manufacturing firm in December 2018, without a job in mind.
At the time, she was officially recognised as one of Sweden’s top 30 female leaders of the future – the same year she began questioning professional fulfilment and how it matched her core values.
“Seen from outside, I have the impression people viewed my act as brave, but it’s only brave if it comes with fear or danger … I felt more alive than I had in a long time,’ says Ms Carlsward, 38.
“These decisions need a big portion of trust in yourself and your capabilities that you will get it together on the other side.
“And if worse comes to worse, I knew I would be happy with less, and that me and my husband would always be able to provide a roof over our heads and food on the table.”
Ms Carlsward says her biggest “brain ghosts” were fed by cultural norms, such as it not being responsible to leave a good job when you have a family, and whether she would have value in the eyes of others without a job and a title.
She also had to evaluate the effect such a change would have domestically, but cites the full support of her husband, an IT entrepreneur whose career prompted a move to Dubai in late 2019 with their young daughter.
Ms Carlsward began freelance management consulting last year, allowing her to work part-time, pay bills and develop a new company with friends in London and Amsterdam.
I wanted my daughter to see that I did something I have passion in
Inspired during the March lockdown, Violet Hill & Co launches shortly in Dubai and Stockholm; a consultancy that assesses and improves company and employee sustainability on the road to pandemic recovery.
Ms Carlsward says it was important not to make her plan before she had “landed on the other side of employment … simply because your environment shapes your decisions”.
“Many typical chief executives are the main provider of the family and thereby limiting their freedom of choice,” she says. “As a couple, we have been consciously supporting each other’s career … this is important to build the foundation where such a decision like I took is possible.”
Ms Carlsward also says she considered her confidence in re-building her career “in a slightly different context” above calculating fiscal impact.
“I wanted my daughter to see that I did something I have passion in,” she adds. “I am confident that on this path, I will reach higher than what I left behind and feel more fulfilled.”
That’s a scenario recognised by psychologist Dr Sarah Rasmi, founder and managing director of Dubai’s Thrive Wellbeing Centre.
“If we look at some of the theories of development, one of the things we find is that people in midlife are often prompted to re-evaluate their lives,” she says.
“The decisions they’ve made, where they are in their current life … to see if they have cultivated or created something either at work, home or in their broader community that will outlast them.”
Thanj Kugananthan, founder of consultancy Visible HR, agrees.
“Going through something that makes us question our happiness and wellness, whether that is redundancy, a toxic working environment or otherwise, from my experience as well as from my network of business owners, is quite a common reason for people to ‘leave the rat race’,” she says.
Ms Kugananthan started her business seven years ago, in her early 30s, after an “unpleasant, short working stint” at an organisation.
Going through something that makes us question our happiness and wellness is a common reason for people to leave the rat race
Such career changes typically happen in people’s 30s and 40s, she says, “because at this stage we are likely to have more savings”.
She adds: “We are likely to feel comfortable with our life and work experience and to offer these skills … and we are also starting to question negative impacts on our happiness and wellness and those around us.”
Speaking from personal experience, Ms Glynn, 39, says traditionally there comes an age when people rethink careers and life choices.
“I have found this more common in the past year than ever, and people experiencing this much younger than before … I suspect reassessing what is important to them and making life-changing decisions.”
Ms Glynn, however, recommends setting aside at least one years’ worth of living expenses before resigning.
For pilot Mr Versetti, such financial preparedness provided resources to co-found GFS.
“I was always looking to protect myself and my family, and was very conservative during my career,” he says.
“Most expat pilots don’t have a retirement programme so I was saving, although I wasn’t expecting to start using my savings right now, maybe at 60 or 65.”
He adds: “It’s important to show other people they can do something else in their life.”
COMPANY%20PROFILE
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The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
COMPANY%20PROFILE
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Sam Smith
Where: du Arena, Abu Dhabi
When: Saturday November 24
Rating: 4/5
Profile
Name: Carzaty
Founders: Marwan Chaar and Hassan Jaffar
Launched: 2017
Employees: 22
Based: Dubai and Muscat
Sector: Automobile retail
Funding to date: $5.5 million
Illegal%20shipments%20intercepted%20in%20Gulf%20region
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UAE currency: the story behind the money in your pockets
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RESULT
Bayer Leverkusen 2 Bayern Munich 4
Leverkusen: Alario (9'), Wirtz (89')
Bayern: Coman (27'), Goretzka (42'), Gnabry (45'), Lewandowski (66')
Tips for used car buyers
- Choose cars with GCC specifications
- Get a service history for cars less than five years old
- Don’t go cheap on the inspection
- Check for oil leaks
- Do a Google search on the standard problems for your car model
- Do your due diligence. Get a transfer of ownership done at an official RTA centre
- Check the vehicle’s condition. You don’t want to buy a car that’s a good deal but ends up costing you Dh10,000 in repairs every month
- Validate warranty and service contracts with the relevant agency and and make sure they are valid when ownership is transferred
- If you are planning to sell the car soon, buy one with a good resale value. The two most popular cars in the UAE are black or white in colour and other colours are harder to sell
Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com
Match info:
Burnley 0
Manchester United 2
Lukaku (22', 44')
Red card: Marcus Rashford (Man United)
Man of the match: Romelu Lukaku (Manchester United)
Brolliology: A History of the Umbrella in Life and Literature
By Marion Rankine
Melville House
MATCH INFO
Barcelona 5 (Lenglet 2', Vidal 29', Messi 34', 75', Suarez 77')
Valladolid 1 (Kiko 15')
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
Profile of Hala Insurance
Date Started: September 2018
Founders: Walid and Karim Dib
Based: Abu Dhabi
Employees: Nine
Amount raised: $1.2 million
Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers
match info
Southampton 2 (Ings 32' & pen 89') Tottenham Hotspur 5 (Son 45', 47', 64', & 73', Kane 82')
Man of the match Son Heung-min (Tottenham)
The Bio
Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
The biog
Favourite hobby: taking his rescue dog, Sally, for long walks.
Favourite book: anything by Stephen King, although he said the films rarely match the quality of the books
Favourite film: The Shawshank Redemption stands out as his favourite movie, a classic King novella
Favourite music: “I have a wide and varied music taste, so it would be unfair to pick a single song from blues to rock as a favourite"
Starring: Jamie Foxx, Angela Bassett, Tina Fey
Directed by: Pete Doctor
Rating: 4 stars
Company profile
Name: The Concept
Founders: Yadhushan Mahendran, Maria Sobh and Muhammad Rijal
Based: Abu Dhabi
Founded: 2017
Number of employees: 7
Sector: Aviation and space industry
Funding: $250,000
Future plans: Looking to raise $1 million investment to boost expansion and develop new products
What is the Supreme Petroleum Council?
The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.
McLaren GT specs
Engine: 4-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 630Nm
Price: Dh875,000
On sale: now
The biog
Name: Maitha Qambar
Age: 24
Emirate: Abu Dhabi
Education: Master’s Degree
Favourite hobby: Reading
She says: “Everyone has a purpose in life and everyone learns from their experiences”
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
The biog
Name: Dhabia Khalifa AlQubaisi
Age: 23
How she spends spare time: Playing with cats at the clinic and feeding them
Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need
Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman
Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs
Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing
Dubai World Cup prize money
Group 1 (Purebred Arabian) 2000m Dubai Kahayla Classic - $750,000
Group 2 1,600m(Dirt) Godolphin Mile - $750,000
Group 2 3,200m (Turf) Dubai Gold Cup – $750,000
Group 1 1,200m (Turf) Al Quoz Sprint – $1,000,000
Group 2 1,900m(Dirt) UAE Derby – $750,000
Group 1 1,200m (Dirt) Dubai Golden Shaheen – $1,500,000
Group 1 1,800m (Turf) Dubai Turf – $4,000,000
Group 1 2,410m (Turf) Dubai Sheema Classic – $5,000,000
Group 1 2,000m (Dirt) Dubai World Cup– $12,000,000
Haircare resolutions 2021
From Beirut and Amman to London and now Dubai, hairstylist George Massoud has seen the same mistakes made by customers all over the world. In the chair or at-home hair care, here are the resolutions he wishes his customers would make for the year ahead.
1. 'I will seek consultation from professionals'
You may know what you want, but are you sure it’s going to suit you? Haircare professionals can tell you what will work best with your skin tone, hair texture and lifestyle.
2. 'I will tell my hairdresser when I’m not happy'
Massoud says it’s better to offer constructive criticism to work on in the future. Your hairdresser will learn, and you may discover how to communicate exactly what you want more effectively the next time.
3. ‘I will treat my hair better out of the chair’
Damage control is a big part of most hairstylists’ work right now, but it can be avoided. Steer clear of over-colouring at home, try and pursue one hair brand at a time and never, ever use a straightener on still drying hair, pleads Massoud.
The%20specs
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MATCH INFO
Crawley Town 3 (Tsaroulla 50', Nadesan 53', Tunnicliffe 70')
Leeds United 0
Results
5.30pm Maiden (TB) Dh82,500 (Turf) 1,400m
Winner Spirit Of Light, Clement Lecoeuvre (jockey), Erwan Charpy (trainer)
6.05pm Maiden (TB) Dh82,500 (Dirt) 1,900m
Winner Bright Start, Pat Cosgrave, Saeed bin Suroor
6.40pm Handicap (TB) Dh92,500 (D) 2,000m
Winner Twelfthofneverland, Nathan Crosse, Satish Seemar
7.15pm Handicap (TB) Dh85,000 (T) 1,600m
Winner Imperial Empire, Tadhg O’Shea, Satish Seemar
7.50pm Handicap (TB) Dh92,500 (T) 2,000m
Winner Record Man, Tadhg O’Shea, Satish Seemar
8.25pm Handicap (TB) Dh92,500 (D) 1,600m
Winner Celtic Prince, Fabrice Veron, Rashed Bouresly
The specs
Engine: 1.4-litre 4-cylinder turbo
Power: 180hp at 5,500rpm
Torque: 250Nm at 3,00rpm
Transmission: 5-speed sequential auto
Price: From Dh139,995
On sale: now
KEY HIGHLIGHTS
Healthcare spending to double to $2.2 trillion rupees
Launched a 641billion-rupee federal health scheme
Allotted 200 billion rupees for the recapitalisation of state-run banks
Around 1.75 trillion rupees allotted for privatisation and stake sales in state-owned assets
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Conservative MPs who have publicly revealed sending letters of no confidence
- Steve Baker
- Peter Bone
- Ben Bradley
- Andrew Bridgen
- Maria Caulfield
- Simon Clarke
- Philip Davies
- Nadine Dorries
- James Duddridge
- Mark Francois
- Chris Green
- Adam Holloway
- Andrea Jenkyns
- Anne-Marie Morris
- Sheryll Murray
- Jacob Rees-Mogg
- Laurence Robertson
- Lee Rowley
- Henry Smith
- Martin Vickers
- John Whittingdale
The biog
Age: 35
Inspiration: Wife and kids
Favourite book: Changes all the time but my new favourite is Thinking, Fast and Slow by Daniel Kahneman
Best Travel Destination: Bora Bora , French Polynesia
Favourite run: Jabel Hafeet, I also enjoy running the 30km loop in Al Wathba cycling track
