Fintech PR
Global Survey Shows Travellers Still Struggle With Lack of Information About Delayed and Cancelled Flights, Says Cirium
Reading Time: 3 minutes
- New survey reveals well over a third of travellers have had to pay more to make alternative travel plans following a delayed flight
- Nearly two thirds would be likely to use an app which alerted family, friends and work colleagues if their flight was disrupted
- Cirium, the aviation data and analytics experts, say flight delays and cancellations cost airlines over US$30bn a year
Over a third of global travellers (36%) say they don’t get enough information about delayed and cancelled flights, according to aviation and data analytics experts at Cirium.
A new survey for Cirium reveals the impact of flight delays and cancellations and the need for better management of flight disruption, with more communication via proactive flight updates for affected passengers.
Almost two thirds (61%) of those surveyed said that they would be likely to use an app which alerted their friends, family or company about their delay.
In 2018, approximately 3.9 million flights – or 10,700 a day – were delayed by over 30 minutes or cancelled globally, affecting more than 470 million passenger journeys around the world.
Flight delays and cancellation cost airlines globally US$30bn a year in lost revenue, in addition to costs borne by their passengers.
Airline flight delays and cancellations are caused by a wide range of factors, such as technical issues with aircraft, bad weather, air traffic control problems, strikes, medical diversions and congested airports, among many others.
The global YouGov study conducted for Cirium in the UK, US, UAE and China, showed more than a third of travellers worldwide (35%) who had experienced a delayed or cancelled flight, did not find it easy to change their travel plans, with well over a third (40%) left out of pocket after being forced to pay more to make alternative travel plans.
Airlines also had to bear the massive cost of disruption with flight delays and cancellations costing the equivalent of US$7 for every departing passenger – slightly less than the airline’s net profit per person per departing flight.
Jeremy Bowen, Cirium Chief Executive Officer, said: “Flight delays and cancellations are an unfortunate aspect of modern air travel and can have a big impact on travellers, whether flying for business or leisure. We recognize that the cost of disruption for airlines is also a significant problem. While our survey reveals well over a third of passengers still have to pay more for alternative travel plans, airlines can proactively issue flight alerts ahead of travel and re-allocate tickets without fees to take the sting out of flight disruption. We all want to travel stress free and get people to where they want to go, which is why at Cirium we work closely with airlines around the world on initiatives which reduce the impact of disrupted flights.”
The survey revealed nearly two thirds (57%) of those polled only found out about their flight delay or cancellation once they had reached the airport. When asked 29% said that they would prefer to be informed about a delay through a text alert with another two thirds (61%) saying they would use an app which alerted their friends, family or company about their delay.
More than double (48%) said that they would be most frustrated if their leisure flight was delayed or cancelled compared to the 21% who would be most frustrated if a business flight was cancelled.
Over a third of global travellers would be most sympathetic if a flight was disrupted due to bad weather (35%) followed by technical issues with their aircraft (30%). However, only a tiny 5% would be most sympathetic with delays or cancellations due to problems caused by air traffic control.
Cirium enables the wider travel industry to manage the impact of disruption with intelligent data and analytics solutions. For example, Cirium analyzes more than 70 million passenger journeys annually to provide meaningful insights and keep the travel industry in motion.
This data is used by a wide range of customers, such as airlines and airports, to improve the travel experience by smart devices and metasearch engines, like Google, Amazon and Expedia, to provide information directly to passengers, enabling them to make more informed choices when on the move.
Cirium’s data and analytics divisions have been the first to bring innovative solutions to market, such as the first to automate the ticket waiver process during times of flight delays and cancellations.
It employs over 400 technologists, analysts, data scientists and market experts in the UK, US, Europe, Middle East, Indiaand Asia-Pacific.
The group has significantly grown in recent years with the acquisition of leading data intelligence companies, including Ascend, Innovata, Diio and FlightStats.
SOURCE Cirium
Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
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View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
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View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html
DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
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View original content:https://www.prnewswire.co.uk/news-releases/chinas-aima-brand-electric-motorbike-is-now-in-bangladesh-302314773.html
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