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Tag: Qatar

  • Qatar Airways Divests $897M Stake in Cathay Pacific, Streamlining Investment for Future Growth

    Qatar Airways Divests $897M Stake in Cathay Pacific, Streamlining Investment for Future Growth

    Qatar Airways, the Doha-based airline, is set to divest its entire stake in Cathay Pacific Airways, a move that will mark its departure from the Hong Kong airline after an eight-year association. The transaction is estimated to be worth approximately $897 million.

    Stake Sale and Repurchase

    Late on Wednesday, Cathay Pacific reported that Qatar Airways had expressed an interest in offloading its 9.7% stake in the company. In response, Cathay intends to buy back the shares at a rate of HK$10.8374 (or $1.39) per share. This represents a roughly 4% discount to the closing share price prior to the announcement.

    Qatar Airways had initially acquired the stake in November 2017 from Kingboard Chemical Holdings, a Hong Kong firm. This investment made it the third-largest shareholder in Cathay Pacific, trailing behind Swire Pacific and Air China.

    Strategic Investment and Exit

    The investment in Cathay Pacific marked Qatar Airways’ first significant venture into an Asian airline. The move was intended to expand its global footprint and to increase passenger volumes through its Doha hub.

    According to Qatar Airways’ CEO, Badr Mohammed Al-Meer, the decision to exit Cathay Pacific aligns with the company’s disciplined investment strategy. This strategy has facilitated a period of strong performance, allowing the company to reassess its investments and plan for long-term growth.

    As part of its competitive strategy, the Middle Eastern airline has made a series of investments in airlines around the world. These investments include stakes in IAG, the parent company of British Airways, South American carrier LATAM, and Virgin Australia.

    Premium Buyback and Future Plans

    To acquire the stake, Cathay Pacific is set to pay a premium of approximately 35% over the original price paid by Qatar Airways. The Hong Kong airline plans to fund the transaction through its internal resources and existing credit lines.

    Patrick Healy, Chairman of Cathay Pacific, indicated that the stake buyback signals the company’s strong confidence in its future. The airline has proposed an ambitious investment plan amounting to HK$100 billion over the next seven years. This plan encompasses fleet renewal, cabin products, and lounge facilities.

    Upon completion of the deal, Swire Pacific, the controlling shareholder, will see its stake rise to 47.69%, up from 43.12%. Similarly, Air China’s shareholding will increase to 31.78%, up from 28.74%.

    Despite Qatar Airways’ planned exit, both airlines have committed to continuing their partnership via the Oneworld Alliance.

    Questions & Answers

    Why has Qatar Airways decided to sell its stake in Cathay Pacific?
    The decision aligns with the company’s disciplined investment strategy and follows a period of strong performance, allowing the company to reassess its investment portfolio.

    How will Cathay Pacific fund the buyback of the stake?
    Cathay Pacific will fund the transaction through its internal resources and existing credit lines.

    What impact will the stake sale have on Cathay Pacific’s shareholding structure?
    If the deal is approved, controlling shareholder Swire Pacific’s stake in Cathay will rise to 47.69%, while Air China’s shareholding will increase to 31.78%.

  • Pop Culture Meets Travel Retail: Pop Mart Unveils First Middle Eastern Store at Qatar’s Hamad International Airport

    Pop Culture Meets Travel Retail: Pop Mart Unveils First Middle Eastern Store at Qatar’s Hamad International Airport

    Qatar Duty Free has embarked on a collaboration with Chinese collectibles company Pop Mart to unveil the brand’s first Middle Eastern store. This partnership marks a novel blend of travel retail and pop culture experiences.

    Unveiling Pop Culture at Hamad International Airport

    The new store, located at Hamad International Airport, brings a culture-inspired theme to passengers. It provides an immersive retail experience featuring the brand’s popular characters.

    The grand opening of the store was marked with a unique travel-themed fashion show. The event featured travel-ready outfits accessorized with Pop Mart collectibles, and was attended by international influencers and Pop Mart enthusiasts.

    The Twinkle Twinkle Wonderful Journey Series

    The store’s launch also presented an exclusive collection of travel-inspired Pop Mart collectibles named the ‘Twinkle Twinkle Wonderful Journey Series’. This series includes travel essentials such as bags, U-shaped pillows, and card holders.

    Revolutionizing Airport Retail

    Thabet Musleh, Chief Retail and Hospitality Officer of Qatar Airways Group, commented on the partnership, emphasizing the company’s commitment to revolutionizing airport and regional retail. He mentioned that this unique concept aligns perfectly with their vision to continually surprise travelers with exclusive, experience-centric concepts that redefine travel retail trends and standards.

    Justin Moon, Senior VP and COO of Pop Mart International Group, highlighted the significance of the collaboration. He noted that by integrating Qatar’s rich culture with their vibrant characters, they are setting a global benchmark for how pop culture connects with local communities.

    Following Pop Mart’s initial Middle Eastern debut in Abu Dhabi in May, the brand has recorded an increase in sales, thanks in large part to the popularity of their ‘ugly-cute’ Labubu figures.

    Questions & Answers

    What is the significance of the partnership between Qatar Duty Free and Pop Mart?
    The collaboration introduces a unique blend of travel retail and pop culture, marking Pop Mart’s first store opening in the Middle East.

    What special features does the new Pop Mart store offer?
    The store provides an immersive, culture-inspired retail experience, highlighting the brand’s popular collectibles. It also features an exclusive collection of travel-inspired items called the ‘Twinkle Twinkle Wonderful Journey Series’.

    What was the outcome of Pop Mart’s initial debut in the Middle East?
    Following its first launch in Abu Dhabi, Pop Mart has seen increased sales, particularly for its ‘ugly-cute’ Labubu figures.

  • Ooredoo Qatar Chief Strategy Officer Shortlisted for Award Alongside Just 24 Leading Female Executives

    Ooredoo Qatar Chief Strategy Officer Shortlisted for Award Alongside Just 24 Leading Female Executives

    Munera Al-Dosari, Chief Strategy Officer (CSO) of Ooredoo Qatar, today joins an exclusive group of women shortlisted for the prestigious WeQual EMEA 2020 Awards.

    The Ooredoo CSO is one of just 24 world-class female executives nominated for the shortlist in the WeQual EMEA awards, which recognise and celebrate potential C-suite leaders. The nomination is based on the WeQual organisers finding successful senior women who are one level below C-suite. Each of the 24 finalists was assessed against seven criteria: Leadership, Cognitive Ability, Integrity, Drive & Resilience, Equality, Knowledge of the Business and Personal Development.

    Sabah Rabiah Al-Kuwari – Director PR at Ooredoo – said: “Congratulations to my colleague and CSO Munera Al-Dosari on being named as a finalist for WeQual EMEA 2020. This is a tremendous achievement and we welcome the way her existing industry recognition and reputation is beginning to reach a global audience.”

    Munera Al-Dosari – Ooredoo Qatar CSO – said: “I am proud to be shortlisted for one of these awards, among the first to target women at this level. As well as connecting me to like-minded female executives, it builds awareness of both Ooredoo and of this group of talented people from across the business world.”

    The WeQual Awards were founded by CEO Katie Litchfield in order to augment representation of women in leadership roles within the world’s biggest businesses, in response to her perception of a lack of diversity and equality in such roles and organisations.

    Al-Dosari joins a senior group of 24 executives who will become members of the WeQual Club, alongside an existing cohort of 72 senior FTSE and Fortune 500 female executives. A quarter of the winners of previous UK and US WeQual Awards have since been promoted to the executive committees of FTSE and Fortune 500 companies.

    After the assessment of all candidates, eight executive interviewers will hold 30-minuteinterviews with the three finalists in their category before each choosing a category winner.

    The winners will be announced in December 2020.

  • Qatar Airways Cargo and Cainiao strengthen partnership to meet global e-commerce demand

    Qatar Airways Cargo and Cainiao strengthen partnership to meet global e-commerce demand

    Qatar Airways Cargo, the world’s leading air cargo carrier, and Cainiao, a global leader in e-commerce logistics, agree to strengthen their existing partnership, aiming to support the growth of cross-border e-commerce and enhance consumer experiences worldwide.

    Cainiao, with its deep e-commerce insights and technological expertise, and Qatar Airways Cargo, with its extensive global connectivity, will together leverage their complementary strengths through this partnership to enhance global e-commerce logistics and stimulate economic growth at both regional and global levels.

    Mark Drusch, Chief Officer Cargo at Qatar Airways Cargo, said: “Since the inception of our collaboration with Cainiao in 2021, the partnership has seen strong growth, driven by ongoing flying agreements and a shared vision to support the burgeoning e-commerce industry.”

    “We are now further deepening our ties with Cainiao to work even closer together. By utilising the Qatar Airways Cargo hub at Hamad International Airport in Doha, we aim to expedite shipments to customers in Europe, the Middle East, and Africa, reinforcing our commitment to Cainiao.”

    Wan Lin, Chief Executive Officer of Cainiao, said: “At Cainiao, we’re committed to building a smart, future-proof logistics network for e-commerce. We are pleased to strengthen our partnership with quality players like Qatar Airways Cargo to build a more robust global express network and better support our global customers with faster deliveries and enhanced supply chain efficiency.”

    E-commerce remains the largest driver of air cargo capacity demand worldwide. Qatar Airways Cargo’s extensive global network and state-of-the-art fleet have positioned it as an essential partner in meeting this demand. Through this collaboration, both companies continue to enhance connectivity and reliability for businesses and consumers across the globe.

    Qatar Airways Cargo looks forward to further developing this strategic relationship, reinforcing its position as a leader in the air cargo industry.

  • Qatar Airways Cargo links with Xiamen Airlines

    Qatar Airways Cargo links with Xiamen Airlines

    Qatar Airways Cargo will offer additional capacity to/from China on the belly space of Boeing widebody jets with a new tie-up with fellow Skyteam member Xiamen Airlines.

    Under the agreement, Xiamen Airlines will launch daily flights on 20 October between Beijing’s Daxing International Airport (PKX) to Doha’s Hamad International Airport (DOH). The Chinese carrier will also launch two weekly flights from Xiamen (XMN), one of China’s special economic zones, to Doha, starting 31 October.

    This is the first time that the Chinese carrier will operate non-stop passenger flights to Qatar.

    A B787-9 will operate the new direct services from PKX to DOH, whilst the XMN-DOH return service will be operated by a B787-8, with more than 100 tonnes of capacity on both flights. Qatar Airways Cargo now serves 9 destinations in China, offering over 2,800 tonnes of cargo capacity each week.

  • Malabar to open 56 stores most sit in Asia

    Malabar to open 56 stores most sit in Asia

    In India, the expansion will span Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Maharashtra, Delhi, West Bengal, Uttar Pradesh, Odisha, and Kerala, and globally, new outlets will open in Singapore, Malaysia, Oman, Qatar, Bahrain, and the UAE.

    In India 12 new stores are slated to open in Q1 of the fiscal in Chennai, Lucknow, Hyderabad, Mumbai, Pune, and Bengaluru, and in small towns like Eluru, Mancherial, Solapur, and Ahmednagar. Globally, new shops will open in Little India in Singapore, Kuala Lumpur and Penang in Malaysia, Ruwi, Baushar and Al Khoudh in Oman, Jeryan Jenaihat and Rawdat in Qatar, Bab al Bahrain in Bahrain, and in the UAE in Al Zahia and Muweilah in Sharjah, and Silicon Oasis and Dubai Gold Souk Dubai.

    Malabar Group Chairman, MP Ahammed, said: “In over 25 years, we have transformed from a small retail jewelry business to a global player across the verticals of gold and diamond jewelry retail, manufacturing, and multi-retail business. Transparency and customer trust have been our growth pillars and the new expansion will take us to the next level.”

    He said the new stores will offer an unparalleled customer experience in line with the Malabar Promise of incomparable quality and service assurance. The group’s goal is to be the number one jewelry retail brand in the world in terms of showroom numbers and turnover.

    Abdul Salam KP, Group Executive Director of Malabar Group, said: “In line with our social commitment, the expansion will create 1,750 new jobs. We follow industry best practices, ethical sourcing, and professional fund management.”

    “The expansion will strengthen the group’s retail footprints in territories where it has a strong presence,” said Shamlal Ahamed, Managing Director, International Operations of Malabar Gold and Diamonds.

  • Ooredoo and Ericsson Reach a Record System Throughput of 4.2Gbps over a Bandwidth of 200MHzs

    Ooredoo and Ericsson Reach a Record System Throughput of 4.2Gbps over a Bandwidth of 200MHzs

    Ooredoo Qatar, working with technology giant Ericsson, has successfully tested the 200MHz spectrum and achieved a record system throughput of 4.2Gbps, as part of the growing shift towards complete 5G delivery.

    The technology, deployed within Ooredoo’s network, uses advanced 5G and 4G carrier aggregation functionality, increasing the data rate per user by assigning multiple frequency blocks to the same user. This innovation is expected to play an important role in the build-up to achieving 90 percent 5G coverage throughout Qatar by the end of 2020.

    Increasingly, Ooredoo Qatar is positioned as a key digital enabler. With this recent breakthrough in both speed and delivery, customers will be able to maximize the benefits of streaming services, virtual learning environments, cloud gaming and augmented and/or virtual reality applications. Likewise, it will allow businesses to pursue new customer bases, while potentially streamlining their contribution to such endeavors as smart cities, telemedicine, and logistics.

    Sheikh Mohammed Bin Abdullah Al Thani, CEO at Ooredoo Qatar says: “5G is a phenomenal evolution that opens doors to a world of new possibilities — many of which we have already tested — and we are proud to be at the forefront of the 5G revolution amongst global telecom operators. Keeping our customers connected and enabling them to enjoy the best of the internet is at the core of what we do, and this partnership with Ericsson will enable us to achieve our strategic goals in network development and expansion. We are making use of the latest innovative technology to apply 5G in existing frequency bands and deploying the latest 5G radios to shift our subscriber experience to a whole new level; with the addition of 5G, we are committed to offering Qatar the best mobile digital infrastructure, which will result in enhanced user experience ahead of the major world sporting events set to be held in Qatar.”

    Fadi Pharaon, President of Ericsson Middle East & Africa, says: “We are pleased to be working with our long-standing partner Ooredoo Qatar helping them achieve the full potential of 5G. Today’s trial cements Ooredoo’s commitment to bring the latest technology and prepares its network for the new era of 5G use cases. This announcement highlights Ericsson’s 5G leadership enabling wider opportunities, innovative solutions, and applications that 5G will bring.”

    By reaching this milestone, Ooredoo Qatar is taking a crucial step forward for an efficient and seamless roll-out of the latest mobile technology, offering enhanced network performance.

  • Qatar possible partner for Malaysia’s third national car project

    Qatar possible partner for Malaysia’s third national car project

    Malaysia is looking at the possibility of having Qatar on board the third national car project. In a statement, the International Trade and Industry Ministry (Miti) said Minister Datuk Darell Leiking had a bilateral meeting with Qatar’s Minister of Commerce and Industry Ali Ahmed Al Kuwari and Qatar Investment Authority CEO Mansoor Ebrahim al-Mahmoud on Jan 22.

    “The main objective of the meeting is to explore the possibility of having Qatar on board Malaysia’s third national car project. This is to leverage on Qatar’s investments in Volkswagen and Audi. Qatar positively welcomed the idea and reiterated on the need to deliberate the details of the joint manufacturing project,“ Miti said.

    Darell highlighted that Qatar could look at the possibility of collaborating in Malaysia in other parts of the automotive sector such as investment in automotive components or producing electric cars. He also informed Qatar on the recent launching of the latest Proton model X70 and Perodua Aruz.

    “Qatar took the opportunity to update Malaysia on its current investment reforms including the relaxation of foreign investment ownership, of which 100% foreign ownership is now allowed in Qatar in various sectors.”

    Qatar expressed hope that more Malaysian companies to invest in Qatar. Qatar can be seen as a gateway to the Middle East market and Malaysia as a springboard to the Asean market. To this effect, the Second Malaysia-Qatar Joint Trade Committee Meeting is scheduled to be held on March 28-29 2019.

    “Noting the good relationship between Malaysia and Qatar, the minister also expressed the possibility of proposing Qatar to be a dialogue partner in Asean,“ Miti said.

  • Ooredoo demonstrates 5G aerial taxi

    Ooredoo demonstrates 5G aerial taxi

    Qatar-based Ooredoo has acted to showcase the power of 5G to enable smart city applications with a trial of the world’s first self-driving 5G connected autonomous aerial taxi.

    During an event at The Pearl artificial island in Doha, Ooredoo also showcased technologies including a 5G experience bus to allow visitors to experience the potential of 5G while commuting and a 5G house boat.

    The 5G connected aerial taxi is a large drone-like vehicle large enough to transport two people to a destination up to 20 minutes away at speeds of 130km/h. The autonomous vehicle runs on Ooredoo’s commercially-ready 5G network.

    Meanwhile Ooredoo’s 5G bus experience provided passengers with the ability to browse the internet with 5G speeds of up to 2.6Gbps while in transit.

    Finally the 5G house boat was equipped with 8K VR streaming gaming technology to demonstrate 5G’s potential to usher in the future of entertainment.

    “The Ooredoo 5G roll-out is growing daily, but as our customers cannot yet access the speeds and benefits of our ongoing investment, we wanted to demonstrate the true power of 5G and showcase what our technology will do for Qatar in the near future and in the years to come,” Ooredoo CEO Waleed Al Sayed said.

    “Ooredoo is leading global Internet of Things innovation thanks to our world-class 5G networks and we are the clear partner for Qatar’s growing Smart City technological needs. Thanks to our Supernet network and IoT solutions, Qatar will soon be able to offer the futuristic experiments shown today to everyone connected to Ooredoo 5G.”

  • National Airlines of Qatar treats fans to football match

    National Airlines of Qatar treats fans to football match

    As an Official Partner of FIFA, Qatar Airways is keen to bring fellow football fans across the globe with their #OnYourFeet challenge on social media sites. The winners of the challenge will receive two Business Class tickets to any destination on the award-winning airline’s global route network.

    Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, said: “The 2018 FIFA World Cup RussiaTM has begun, marking an entire month of excitement as fans from around the world gather in Russia to celebrate their love for football. Whether you are a football enthusiast, dedicated to supporting your national team or even your favourite local team, the World Cup is a global event that unites us all, and we are thrilled to be supporting such a world-class sporting occasion.”

    The award-winning airline recently captured the excitement of the upcoming tournament by launching its new 2018 FIFA World Cup RussiaTM campaign, featuring a re-recording of the classic song ‘Dancing in the Street’ sung by renowned singer and TV star Nicole Scherzinger. The upbeat TV commercial has seen tremendous global success, with more than 20 million views across the airline’s social media platforms, including Facebook, Twitter, Instagram and YouTube.

  • ‘Qatar in prime position’ to draw Chinese tourists

    ‘Qatar in prime position’ to draw Chinese tourists

    Welcome Chinese, the only official overseas hospitality certification programme recognised by the Chinese government, collaborates with Qatar Tourism Authority (QTA) to empower the country’s hospitality, tourism and retail sectors to meet the requirements of Chinese tourists.

    “China is the world’s biggest and fastest-growing outbound tourism market. Opportunities are limitless and we strongly believe that Qatar is in a prime position to entice Chinese tourists to travel to Doha and explore areas beyond the capital city,” Welcome Chinese marketing consultant Anna Klapper said.

    “The tourism world is extremely competitive. However, the ease of visa-free travel is a game changer,” she noted.
    Citizens of 80 countries, including China, India and Russia, can now enter Qatar visa-free, making it the most open country in the region.

    Nationals of more than 240 countries are also eligible to apply for a tourist e-visa online to visit the country, according to QTA. While shopping and retail remain to be key attractions for Chinese tourists, Klapper pointed out that Qatar has a lot to offer.

    She cited the country’s rich culture and heritage, and unique experiences such as “sweeping natural landscapes, stunning urban architecture, Arabian culture and hospitality.”  “We have conducted a lot of research which shows that as the Chinese travellers evolve, they will seek experiential travel more and more – and Qatar can meet those needs,” Klapper stressed.

    “The desert meets the water in Qatar. There are only two places in the world where you can do that, and I would say Qatar is number one as the water is warm enough so you can take advantage of that too,” she explained. “Seeing the sand dunes next to the water under a setting sun – Who doesn’t want to have a memory of a lifetime?”
    Qatar was granted Approved Destination Status (ADS) in China in September last year, allowing it to receive Chinese tourists and promote its tourism destinations within China.

    The ADS system seeks to guarantee safe and reliable tourism services for Chinese customers, from both local travel agencies and international tour operators. Asked about her favourite experiences and attractions in Qatar, Klapper said she felt welcomed by the hospitality and friendliness of the people during her 48 hours in the country.

    “I was particularly taken by the architecture of the Museum of Islamic Art: The fountain area, which leads out to the library and overlooks Doha’s skyline framed by the arches is absolutely stunning,” she added.
    “I was also introduced to my first falcon and learned about their incredible abilities and different hunting techniques. They are beautiful creatures and they have my full respect,” recounted Klapper, who mulls visiting Qatar with her family again in the future to explore more.

    Key requirements of the Chinese market

    Basic requirements include training hospitality professionals in Chinese customs and culture to ensure they can appropriately host guests from China. Facilitating money transactions is also important, and therefore the ability to accept Union Pay is a requirement, according to Anna Klapper.

    She noted that Qatar Tourism Authority (QTA) is creating the country’s own set of resources and plans are underway to improve existing facilities such as providing a directory of Chinese-speaking doctors or providing Chinese-speaking staff round-the-clock in case of emergencies.

    Welcome Chinese, present in 30 countries globally and in the GCC region, has partners across various verticals in the travel industry, including airlines, airports, cities, regions, attractions and museums. It now has more than 150 hotels certified on a global level with the Welcome Chinese designation.

    In collaborating with QTA, it is the first time that Welcome Chinese work closely with a government entity on a national level to prepare and promote a country as a destination for Chinese tourists.

  • Ooredoo launches 1.2Gbps mobile speeds in Qatar

    Ooredoo launches 1.2Gbps mobile speeds in Qatar

    Qatar-based Ooredoo has announced it has broken the 1Gbps speed barrier using commercial smartphones and a live network.

    The company said the company has made speeds of up to 1.2Gbps commercially available to customers in Qatar as it works to be one of the earliest adopters of 5G technology.

    Tests conducted on live sites across Ooredoo’s network achieved speeds exceeding 1Gbps.

    As well as its consumer operations, Ooredoo revealed that Qatar Airways has arranged become the first corporate 5G customer.

    When launched, Ooredoo’s 5G connected corporate commercial services will provide an alternative to wired networks for corporate customers in hard to reach or remote areas.

    In November, Ooredoo completed testing of massive multiple-input multiple output (Massive MIMO) technology in partnership with the airline.

    “Ooredoo will continue to invest heavily in our networks to make sure that everyone across our global footprint can enjoy the internet and its life enhancing benefits,” Ooredoo Qatar CEO Waleed Al Sayed said.

    “There is no doubt that 5G services will have a huge impact on businesses and people, unlocking speeds for seamless browsing, next-generation business applications, and more. We are committed to being one of the first operators globally to make this service commercially available to our customers.”

  • Ooredoo launches 1.2Gbps mobile speeds

    Ooredoo launches 1.2Gbps mobile speeds

    Qatar-based Ooredoo has announced it has broken the 1Gbps speed barrier using commercial smartphones and a live network.

    The company said the company has made speeds of up to 1.2Gbps commercially available to customers in Qatar as it works to be one of the earliest adopters of 5G technology.

    Tests conducted on live sites across Ooredoo’s network achieved speeds exceeding 1Gbps.

    As well as its consumer operations, Ooredoo revealed that Qatar Airways has arranged become the first corporate 5G customer.

    When launched, Ooredoo’s 5G connected corporate commercial services will provide an alternative to wired networks for corporate customers in hard to reach or remote areas.

    In November, Ooredoo completed testing of massive multiple-input multiple output (Massive MIMO) technology in partnership with the airline.

    “Ooredoo will continue to invest heavily in our networks to make sure that everyone across our global footprint can enjoy the internet and its life enhancing benefits,” Ooredoo Qatar CEO Waleed Al Sayed said.

    “There is no doubt that 5G services will have a huge impact on businesses and people, unlocking speeds for seamless browsing, next-generation business applications, and more. We are committed to being one of the first operators globally to make this service commercially available to our customers.”

  • Vietjet and Qatar Airways sign Interline Agreement

    Vietjet and Qatar Airways sign Interline Agreement

    Vietjet recently announced a two-phase interline partnership with Doha – based Qatar Airways. The first phase which came into effect this September will enable Qatar Airways’ passengers to travel to and from points in Vietnam and in Taiwan served directly by Vietjet; the next phase will soon allow Vietjet’s passengers to fly to more than 150 points around the world served by Qatar Airways using a single reservation system that serves both airlines’ networks.

    Qatar Airways Group Chief Executive, Mr. Akbar Al Baker, said: “We are delighted to welcome Vietjet to our growing roster of interline partners as they allow us to provide a more seamless experience for our passengers. The new agreement with Vietjet will offer our passengers even more choice, providing them an easy connection in Ho Chi Minh City or Hanoi before transferring to their Qatar Airways flights.”

    Vietjet Vice President, Ms. Nguyen Thi Thuy Binh, said: “This partnership is a pillar of Vietjet’s strategy to diversify our services with an aim at offering our passengers travel opportunities to points all over the world. We will continue to partner with other airlines based on advanced technology platforms to better benefit our passengers.”

    Qatar Airways is commencing two non-stop operations connecting Hanoi and Ho Chi Minh City with Doha with frequencies of double daily flights and ten weekly flights, respectively.

    Previously, Vietjet and Japan Airlines agreed to codeshare/interline on their flights between Japan and Vietnam, their domestic services and their flights between Vietnam and other Asian countries. The two carriers also cooperate in various areas including a frequent flier partnership, aircraft operations and maintenance, and ground handling services and training.

  • Qatar National Bank injects Rp 2.18t into QNB Indonesia

    Qatar National Bank injects Rp 2.18t into QNB Indonesia

    The Qatar National Bank QPSC (QNB Group) as the controlling shareholder of Bank QNB Indonesia has injected Rp 2.18 trillion (US$162.72 million) into the bank as capital paid in advance as well as acting as standby buyer in the rights issue of Bank QNB Indonesia.

    The additional capital is the realization of QNB Group’s commitment to maintain the bank’s strong capital structure as well as maintain the bank’s business growth stability, the QNB Group said in a statement.

    From the total funds of Rp 2.18 trillion, Rp 2.06 trillion will be used to purchase HMETD offered during a rights issue and the remaining funds will be used for next year’s rights issue.

    Funds from the rights issue, after issuance costs, will be used by QNB Indonesia to increase productive assets, particularly in the form of loan disbursements.

    With the commencement of the rights issue and additional capital payments from QNB Group, the bank’s capital adequacy ratio (CAR) will be 16 percent, well above the Financial Service Authority’s (OJK) minimum requirement.

    On Monday, QNB Indonesia held an extraordinary shareholders meeting at the bank’s head office in Jakarta. The meeting approved Heba Ali Ghaith Al-Tamimi and Stephen Holden as commissioners and Adhiputra Tanoyo as director. The resignation of Grant Eric Lowen as a commissioner was also approved. (dea/bbn)