Connect with us

World

Aviation industry shifts attention to Russia risks after Ukraine airspace closed

The fallout to the global aviation industry from Russia’s invasion of Ukraine is spreading beyond the airspace closings over the conflict zone as airlines, lessors and manufacturers face up to growing risks of doing business with Russia.
Alaska’s Anchorage Airport, a popular refueling hub for long-haul flights when Western airlines were unable to access Russian airspace during the Cold War, said carriers had started making inquiries about capacity in case routes over Russia are affected by the Ukraine crisis.

For the latest headlines, follow our Google News channel online or via the app.

Japan Airlines cancelled its Thursday evening flight to Moscow, citing potential safety risks, while Britain closed its airspace to Russian airlines, including Aeroflot.
Ukrainian President Volodymyr Zelenskiy vowed on Friday to stay in Kyiv as his troops battled Russian invaders advancing toward the capital in the biggest attack on a European state since World War Two.
Airspace in Ukraine, Moldova, parts of Belarus and in southern Russia near the Ukraine border was closed when the invasion began on Thursday, giving airlines a narrower range of routing options.
Emirates said it had made minor routing changes to Stockholm, Moscow, St. Petersburg and some US flights that were hit by the airspace closings, leading to slightly longer flight times.
OPSGROUP, an aviation industry cooperative that shares information on flight risks, said any aircraft travelling through Russian airspace should have contingency plans in place for closed airspace due to risks or sanctions.
“Russia are unlikely to initiate their own sanctions and airspace bans as they would not wish to see Aeroflot receive reciprocal bans,” OPSGROUP said. “However, they may react in response to sanctions from other states.”
Russia’s aviation authority said it reserved the right to respond to Britain’s flight ban with similar measures, the TASS news agency reported on Friday.
Flight tracking website FlightRadar24 said British Airways and Virgin Atlantic flights from India and Pakistan to London that normally flew over Russia were now following a southern route that avoided Russian airspace.
The governing council of the International Civil Aviation Organization (ICAO), a U.N. body, will discuss the Ukraine conflict at a meeting on Friday, a spokesperson said.
As airlines assessed the airspace risks, they have also been hit by a spike in oil prices to more than $105 per barrel for the first time since 2014 as a result of the conflict. That raises operating costs at a time when travel demand remains low because of the pandemic.
Jefferies analysts said European airlines were also likely to take a longer-term hit to demand in light of the conflict, pointing to a 27 percent fall in travel from the European Union to Ukraine and Russia over the span of two years after Russia annexed Crimea in 2014.
Aviation bosses are also worried about the impact on dealings with Russian companies. Sanctions could disrupt payments to leasing firms and affect the supply of aircraft parts.
Russian companies have 980 passenger jets in service, of which 777 are leased, according to analytics firm Cirium. Of these, two thirds, or 515 jets, with an estimated market value of about $10 billion, are rented from foreign firms.
Russia’s domestic market has been among the best performers globally during the pandemic, with capacity down only 7.5 percent this week compared to the same week in 2020, according to travel data firm OAG.
The Biden administration announced major export restrictions against Russia on Thursday, hammering its access to goods, including aircraft parts.
The measures, however, include carveouts for technology necessary for flight safety, raising the prospect the impact to aerospace could be limited rather than sweeping.
Eric Fanning, chief executive of the US-based Aerospace Industries Association, said the industry was reviewing the restrictions.
“Notably, we believe that sanctions and export control activities should not hinder the need to maintain flight safety of commercial aircraft,” he said.

Read more:

Russia has ‘complete air superiority’ over Ukraine: Western intel official

UAE foreign minister, US secretary of state discuss Russian invasion: State dept

Russia could enter areas outside Kyiv today: Ukraine minister

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

World

Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

Continue Reading

World

At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

Continue Reading

World

US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM

Continue Reading

Trending