Linklaters advises Malaysian government on sovereign sukuk

Linklaters has advised the Malaysian Ministry of Finance, and Malaysia Sukuk Global on the issuance of US$1 billion trust certificates due 2026, and US$500 million trust certificates due 2046.

“This is an innovative transaction, not least because it’s the first sovereign sukuk to initially involve only non-physical underlying assets,” said Kevin Wong, Partner, Linklaters, Singapore.

Wong added that this is the first-ever sukuk to include entitlements to travel on public transportation as an underlying asset. “The deal was another demonstration of our capabilities in Islamic finance and capacity to deliver on complex transactions,” Wong said.

Under the structure, at least 80% of the proceeds will be invested in vouchers representing an entitlement to certain travel units, while the balance will be invested in shares of Pengurusan Aset Air. These assets may be replaced by leasable assets at any time during the life of the sukuk.

The legal firm acknowledges the work of Wong, Hyung Ahn, Managing Partner; Phill Hall, Counsel, Singapore, and Xavier Amadei, Counsel, Singapore for Linklaters in facilitating the transaction. 

Qatar Airways launches all-first class service from Doha to Jeddah

Qatar Airways launched a new daily All-First Class service from its hub in Doha to Jeddah in the Kingdom of Saudi Arabia on June 17 to coincide with the start of Ramadhan. With the additional daily flight, services to Jeddah have gone from double-daily flights to triple-daily flights.

Qatar Airways Group Chief Executive, His Excellency Akbar Al Baker, said: “The demand for premium group travel continues to grow especially during the Ramadhan season, and therefore we have introduced this All-Premium A319 to Jeddah, further strengthening Qatar Airways’ position as a five-star airline providing the best First and Business Class service in the industry.”

The Airbus A319 aircraft, which is fitted with a single aisle, two-by-two seating configuration with 40 seats, will enable passengers to experience the comfort of a private jet complemented by Qatar Airways’ five-star hospitality. Passengers on the A319 All-First Class flight are eligible to visit the Al Mourjan Business Lounge at Doha’s Hamad International Airport.

Source: Qatar Airways.

Qatar Airways’ A319 first-class seats recline into fully-flat beds while the recently-launched Oryx One inflight entertainment system has increased the number of movies and TV shows on board from 950 to up to 2,000. Personal entertainment can be enjoyed with noise-cancelling headphones.

The new daily flights between Doha and Jeddah are scheduled as follows:

Depart Doha QR3002 at 9am. Arrive Jeddah at 11:20am.
Depart Jeddah QR3003 at 12:20pm. Arrive Doha at 2:40pm.

Qatar Airways introduces Ramadhan promotions

Source: Qatar Airways website.

Qatar Airways is running Ramadhan promotions across the Middle East. The deadlines range from 25 July for Jodan, all the way to 8 July for Qatar.

In Jordan, passengers' deadline for booking is 25 June to enjoy up to 30% on Economy class and Premium class fares.* Passengers who book* their tickets departing Qatar from now until 8 July 2015 for travel from till 8 July 2015 enjoy up to 25% off on Economy Class and Premium Class fares. Privilege Club members will enjoy redemption discounts of up to 50% on the next flight booked between 15 September and 15 November 2015.*

Most of the booking deadlines are 30 June. For Bahrain, passengers who book tickets from now until 30 June 2015 for travel from 18 June 2015 until 31st October 2015 enjoy special fares on Economy Class and Premium Class fares*. The booking deadline for passengers departing from Iraq is also 30 June but travel is limited till 5 July 2015. Discounts are up to 25% off* on Economy Class. Passengers from departing from Lebanon also have the 30 June deadline, and may enjoy up to 20% off* on Premium class fares for travel until 14 July 2015. If in Oman, book the tickets from now until 30 June 2015 for travel from till 15 December 2015 for special Economy Class and Premium Class fares*.

The Ramadhan offer to Kuwait involves more private travel - an all-First Class experience with just 40 lie-flat all-First Class seats for travel between Kuwait and Jeddah. Privilege Club members earn 100% Bonus Qmiles for travelling from now to 20 July 2015*. The offer is applicable from 22 June 2015. A similar experience is available over Ramadhan between Doha and Jeddah for passengers departing KSA*. Travel has to be booked for between now and 16 July 2015.

The airline has also has announced its Ramadhan timings:

Saturday to Thursday: 8am to 2pm and then 4pm to 10pm
Closed on Fridays

This contrasts with opening hours for the rest of the year, which are:

Saturday to Thursday: 7:30am to 9pm
Closed on Fridays

Interested?

View the terms & conditions for travel from Bahrain
View the terms & conditions for travel from Iraq
View the terms & conditions for travel from Jordan
View the terms & conditions for travel from KSA
View the terms & conditions for travel from Kuwait
View the terms & conditions for travel from Lebanon
View the terms & conditions for travel from Oman
View the terms & conditions for travel from Qatar
*Terms and conditions apply. There were no Ramadhan offers displayed on the UAE and Iran web pages for Qatar Airways nor on the pages for Indonesia, Malaysia, Bangladesh or Pakistan. 

First Hajj flights reach KSA

The Saudi Press Agency has reported that the complex of Hajj and Umrah Terminals at King Abdulaziz International Airport in Saudi Arabia received 20 flights of pilgrims on August 27, with 22 flights expected to arrive on the 28th.

In the coming days, King Abdulaziz International Airport will receive six flights each hour, or 144 hajj flights daily. Prince Mohammed bin Abdulaziz International Airport in Al-Madinah Al-Munawarah has also welcomed this year's first Hajj flights, from Calcutta, India, on August 27.