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Spring break raises airfares by up to 40%

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Spring break raises airfares by up to 40%

Due to high demand for travel during the spring break, which starts in the last week of March, the fares on some routes can vary by 20-40%, depending on the destination, and its size, prompting airlines to raise ticket prices. Demand, according to sources working in the travel industry.

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An “economic statement” of ticket prices posted on booking websites and airlines’ websites showed that commercial airline tickets for flights departing with the start of spring break to Amman, Beirut and Cairo ranged between 1150. Prices range from 900 to 1100 dirhams on the same date to the same destinations, from 1500 dirhams one way.

Mamoon Humaidan, head and general manager of Wego’s business operations for the Middle East, North Africa and India, said that the upcoming holiday season combined with spring break and Eid al-Fitr will boost travel demand as airlines prepare. To meet the increased demand for travel during this season.

Demand for overseas travel during spring break is on the rise and demand is expected to increase in the coming weeks, he said, adding that searches from the UAE abroad during the upcoming spring break will be around 800,000 activities.

The average price of a ticket for travel during the holiday period reached $355, while the most searched destinations from the UAE were Egypt, India, Saudi Arabia, Jordan, Morocco and Lebanon for tourism and family visits, in addition to holiday destinations such as Turkey and Thailand. He stressed the importance of booking and planning ahead for travel to avoid further hikes in the coming period.

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For his part, Salah Mansour, managing director of Dubai Link Group’s STS, said that ticket prices during the spring break are at their highest level since the beginning of the year, supported by high demand for travel, indicating the rate. During spring break which starts in the last week of March, the price increase is 20-40% over normal days.

He added that the demand for travel is divided into two areas. The first focuses on some regional destinations such as Jordan, Egypt and Lebanon. Do you want to take a short vacation before Ramadan?

He explained that demand for travel is not limited to departing flights, but average occupancy rates for inbound flights are more than 80%. The seasonality of the tourism industry disappeared and there was year-round tourism activity.

Mansoor stressed that airlines are preparing for such occasions by scheduling flights according to demand, adding that UAE carriers’ seat capacity has increased significantly compared to last year as they continue to acquire new aircraft. Reduces pressure on reservations.

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Economy

Dubai Taxi increases the number of shares allocated to individuals in the public contribution

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Dubai Taxi increases the number of shares allocated to individuals in the public contribution

Dubai Taxi

Dubai Taxi Company on Tuesday announced that it will increase the number of shares allocated from its initial public offering to individual investors in the UAE in response to strong demand for their shares, and instead, it will reduce the number of shares allocated to professional investors. 25 percent of the total shares of the company remain unchanged.

Dubai Taxi reported that the number of shares allotted to individual investors in the UAE has been increased from 62.475 million to 74.970 million ordinary shares, following the approval of the Securities and Commodities Authority.

Based on the previously announced price range of between 1.8 and 1.85 dirhams per share, the value of the shares allocated to the individual investor segment will now be approximately 135 to 139 million dirhams, which, compared, would represent 12 percent of the size of the initial offering. to the earlier announced 10 per cent.

The offer size remains unchanged at 624.750 million ordinary shares, representing 24.99 percent of the total issued shares in the company’s capital. As a result of the increase in shares allocated to the category of individual investors in the UAE, 549.780 million ordinary shares will be allocated to the category of qualified investors instead of 562.275 million ordinary shares, representing 88 percent of the total offering shares. 90 percent of the previously reported.

As the subscription period for individual investors in the UAE ends on November 28, 2023, the subscription period for qualified investors ends on November 29.

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The offering is expected to be completed and listed shares accepted on December 7, 2023, subject to market conditions and receipt of relevant regulatory approvals in the UAE, including approval for listing and trading on the Dubai Financial Market. Report.

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Economy

“Tik Tok” is cutting hundreds of jobs in video games industry – UAE Breaking News

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“Tik Tok” is cutting hundreds of jobs in video games industry – UAE Breaking News

Chinese tech giant ByteDance, which owns the TikTok app, has decided to cut hundreds of jobs at its gaming unit, an informed source told AFP on Monday, reflecting the group’s retreat from the highly competitive video game industry.

“News,” a Beijing-based video game publisher affiliated with Byte Dance, is currently conducting a round of layoffs that will affect “hundreds of people,” the source said.

A Byte Dance spokesperson said in a statement, “We continue to review our business and make changes to focus on areas of long-term strategic growth.” “Following a recent review, we have made the difficult decision to restructure our gaming division.”

The decision to exit the video games industry comes despite Byte Dance’s large investments in Newverse over the past years in an effort to catch up with video games leader Tencent.

A source told AFP that although the sector’s size would decrease significantly, the current cuts did not represent a complete shutdown of the sector.

The source indicated that the staff reductions are aimed at helping ByteDance focus on its core business and streamline its organizational structure, with games not yet launched slated to close in December.

Games with active players, including the popular action game, the source said Atlan’s CrystalThe company will continue its operations as it seeks to diversify assets.

Launched in 2019 in an attempt to challenge Tencent’s dominance, Neoverse failed to achieve the commercial success that Byte Dance had hoped for.

China-based tech giant Tencent dominates the Asian market and is the biggest player in the global video game industry by revenue, investing in game studios around the world.

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Economy

Report: Platform X could lose $75 million as advertisers quit

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Report: Platform X could lose $75 million as advertisers quit

The “X” platform (formerly Twitter) is at risk of losing about $75 million within a year of its takeover by Elon Musk, a new report has revealed, amid a rapid withdrawal of advertisers.

According to the information published in the newspaper The New York TimesX’s ad department losses are the result of the withdrawal of more than 200 advertisers over the course of a year, including Amazon, Apple and Airbnb.

Since November 2022 Musk’s acquisition of controversial content publishers.

Anti-establishment

Advertisers’ pushback accelerated this November when Elon Musk made a comment endorsing a comment that was characterized as anti-Semitic. There he said: “I told the real truth”, “Jewish communities support hate. Of white people” and Musk tried to backtrack. Without evidence of what he wrote, he suggested he was primarily talking about his opponents in the Anti-Defamation League.

The US newspaper’s statement comes after Musk and others, as well as showing their ads next to anti-Semitic and hateful posts.

Although the platform’s CEO Linda Yaccarino acknowledged that some companies’ ads appeared with infringing content, X continued to sue.

It is reported that the public relations agency “11:11“, the star joins Paris Hilton, who has severed her partnership with X due to Musk’s position.

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