News

Emirates Is Preparing To Build A $135 Million Pilot-Training Facility

The new center will have six full-flight simulator bays for the airline’s future Airbus A350 and Boeing 777X aircraft.

Published

1 year ago

February 21, 2023

Nour Nasir

Emirates

After the pandemic caused a global tourism slump, the travel sector is now well on the road to recovery. Strong demand for air travel means that key industry players are scrambling to hire fresh cabin staff and pilots. To tackle the problem, Emirates has just announced that it intends to build a new training facility, which will span 5,882 square meters and open in March 2024.

The new high-tech center will be equipped with six flight simulator bays and fully-customizable cockpit environments for the new Airbus A350 and Boeing 777X aircraft, also arriving in 2024.

Also Read: Saudi Arabia To Transform Downtown Riyadh By 2030

“The building will be equipped with the latest, technologically advanced simulators to provide the best training for pilots while using solar power to reduce energy consumption,” says Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of Emirates Airline and Group.

According to Emirates, flight training capacity will be increased by 54% annually with the addition of the new center, and the airline plans to hire 400 pilots and up to 6,000 cabin crew by mid-2023.

Related Topics:Aviation Emirates Airline

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Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

16 hours ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.