Business
From planes to PPE: Abu Dhabi aerospace emblem Strata chases new markets
AL AIN, United Arab Emirates (Reuters) – Aerospace supplier Strata Manufacturing, a key player in efforts by oil producer Abu Dhabi to diversify into high-tech manufacturing, is chasing new income at a time of uncertainty about demand for plane parts.
Strata was set up a decade ago by Abu Dhabi’s sovereign investment fund Mubadala in the oasis city of Al Ain with ambitions to become a top-three player in advanced composite materials.
It won contracts from Airbus (AIR.PA) and Boeing (BA.N) to supply parts for wide-body jets, such as those ordered in large numbers by Abu Dhabi’s Etihad Airways, in what many in the industry saw as a quid pro quo.
But with aviation in crisis over the pandemic, Strata is pursuing non-aerospace manufacturing – starting with personal protective equipment (PPE) that is in high demand due to the coronavirus itself.
It has begun manufacturing N95 masks in partnership with Honeywell (HON.N), initially for entities in Abu Dhabi, part of the United Arab Emirates.
“We are an agile company. We want to ensure we keep a close eye on the future,” Chief Executive Ismail Ali Abdulla told Reuters. “We want to ensure there are opportunities … in adjacent markets.”
Strata sprang out of the desert in 2009 as part of efforts to broaden the economy and support local employment in a country mostly populated by foreigners. Its workforce is 60% Emirati, mostly women.
Abdulla declined to discuss financial performance but said Strata was staying within a budget agreed with Mubadala.
Strata builds parts for Airbus A330, A350 and Boeing 787 jets and the future Boeing 777X. A further line for A380 parts is to be removed after Airbus axed the superjumbo.
Plunging forecasts for long-haul travel are reflected on the shop floor, where around a dozen female workers were assembling N95 masks during a visit by Reuters.
Few other workers were present, which the company ascribed to shift patterns as part of pandemic health measures.
Strata aims to renew its Airbus and Boeing contracts and is in talks with Swiss planemaker Pilatus. Abdulla warned that planemakers could cut back on business with suppliers as their own output slows due to the pandemic – while insisting there would ultimately be a future in aerospace for Strata.
“Our industry is not short-term or medium-term,” he said. “The fundamentals of the industry are very strong on the long-term.”
Reporting and photo: Reuters
Maldives on Thursday welcomed the one millionth tourist to visit this year.
The one millionth tourist is a Thai named Sutapa Amonwivat, who arrived from Singapore with her husband and two children. This is her second visit to Maldives.
Maldives Marketing and Public Relations Corporation (MMPRC) and the Ministry of Tourism gave a warm welcome to Sutapa at the Velana International Airport (VIA) Thursday afternoon. She was welcomed at the VIA by tourism minister Ibrahim Faisal, MMPRC Managing Director Ibrahim Shiury and senior officials of various relevant agencies.
After welcoming her with traditional offerings, she was presented with various gifts by the ministry, MMPRC, customs, immigration, Maldives Association of Travel Agents and Tour Operators (MATATO) and Trans Maldivian Airways (TMA).
Maldives reached one million tourists in June, three weeks earlier than last year. The number of tourists reached one million on July 16, 2023.
Maldives expects to reach 2 million tourists this year.
Chongqing Airlines on Monday began its inaugural flights to Maldives.
The Chongqing-Male route, scheduled three times a week, is expected to strengthen the bonds between China and the Maldives, opening up exciting new opportunities for tourism and cultural exchange.
The inaugural flight was welcomed upon its arrival at Velana International Airport (VIA) in Maldives, where local officials and tourism representatives expressed their enthusiasm for this new development.
“We warmly welcome our friends from China to our beautiful islands. This new connection strengthens our bonds and opens up new opportunities for tourism,” the tourism ministry said on X.
Maldives currently welcomes four airlines from China, including China Eastern, Beijing Capital Airlines, Xiamen Airlines.
In January, Maldives government urged tourism stakeholders in both Maldives and China to ramp up efforts to restore China’s position as the primary source market for Maldives tourism, a status held before the onset of Covid-19.
China, being the largest source market for Maldives tourism before the pandemic, saw a resumption of tourist arrivals from January 2023 after a three-year hiatus due to the pandemic. In 2023, the Maldives welcomed 187,118 Chinese tourists, marking a significant recovery in numbers. This year, the Maldives has welcomed the most number of tourists from China, with over 107,940 or 11.5 percent of total arrivals by June 12.
CROSSROADS Maldives has introduced WeChat Pay, widely known as Weixin Pay in China, across its world-class resorts, SAii Lagoon Maldives, Curio Collection by Hilton, and Hard Rock Hotel Maldives. This payment option is made available to enhance the convenience and overall experience for guests from China, making their stay in the Maldives more enjoyable and hassle-free.
Understanding the needs of the diverse guests, CROSSROADS Maldives has integrated WeChat Pay into operations, allowing guests from China to easily and securely conduct transactions using a payment method familiar to them. The introduction of WeChat Pay is a testament to CROSSROADS Maldives’ dedication to enhancing guest satisfaction by offering exceptional experiences at every turn. What is also expected through this initiative is that the guests could benefit from better foreign exchange rates, translating to better savings on their expenditures during their stay.
The option is available for guests in-house conveniently at both resorts as well as across the Marina at CROSSROADS Maldives where a wider variety of unparalleled dining and retail experiences are available for all guests. The day visitors from China will also therefore equally benefit from this new introduction at the Maldives’ premier multi-island integrated leisure destination.
SAii Lagoon Maldives, Curio Collection by Hilton, is a vibrant tropical escape that offers unique and locally inspired experiences. The resort features spacious rooms and villas, a variety of dining options, and an array of recreational activities designed to cater to the desires of modern travellers. Guests can escape to the island’s SAiisational natural beauty, enjoy water sports, and indulge in spa treatments, all while relishing the personalised service that defines Hilton’s Curio Collection.
Hard Rock Hotel Maldives brings the iconic Hard Rock spirit to the tranquil shores of the Maldives. This family-friendly resort offers a perfect blend of relaxation and entertainment, featuring music-inspired experiences, live performances, and the brand’s signature amenities. With luxurious accommodations, diverse dining options, and a plethora of activities for all ages, Hard Rock Hotel Maldives ensures an unforgettable holiday experience for every guest.
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