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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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Binance Receives Virtual Assets License To Operate In Dubai

As its user base nears 200 million, CEO Richard Teng believes crypto adoption will soar over the next half of the decade.

Published

10 hours ago

April 19, 2024

Nour Nasir

binance receives virtual assets license to operate in dubai

Global crypto exchange Binance has been granted a full operational license in Dubai, in a move that’s expected to accelerate digital asset adoption and strengthen the UAE’s regulatory landscape.

The virtual asset service provider license (VASP) was granted by the Dubai Virtual Assets Regulatory Authority (VARA) and will allow Binance to extend its current range of services to retail investors, the company announced yesterday.

The move by Dubai authorities will be critical to Binance’s strategy of growing its user base globally. The crypto exchange expects to pass the 200 million user mark “quite shortly”, according to Richard Teng, the company’s CEO.

Once that milestone is achieved, Binance will have around twice as many users as rival platform Coinbase. Meanwhile, Crypto.com, another popular exchange with 80 million users, received a Dubai VASP license last week.

“We’re seeing much greater institutional adoption and institutional money coming into this space [along with] much greater regulatory clarity and a lot more jurisdictions approving [digital asset] products that bring in new investor classes,” Binance’s Richard Tang explained, adding: “As of now, we stand at about 5% crypto adoption globally, but that will become much faster moving forward”.

Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

Dubai and the UAE are extremely supportive of technologies like digital assets, and have already launched initiatives to boost adoption. The UAE has ambitious plans to become a world leader in the crypto economy of the future, with Dubai in particular being noteworthy for passing a new law to regulate virtual assets to support investors and exchanges.

“Global crypto regulation is currently showing diverging signs. Some developed countries have long suffered from crypto-related frauds and illegal exchanges. On the other hand, emerging nations like the UAE and Singapore have enacted crypto laws at faced pace,” said Vijay Valecha, chief investment officer of Dubai-based Century Financial.

As the UAE gears up to become one of the fastest-growing crypto capitals worldwide, investors and talent are flocking to places like Dubai. During 2023, the Emirates as a whole realized $204 million in capital gains from cryptocurrency investments, according to blockchain data analysts Chainalysis.