Qantas completes longest non-stop New York-Sydney flight

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Qantas CEO Alan Joyce, bottom right, welcomes the crew of a Qantas Boeing 787 Dreamliner after the completion of a non-stop test flight from New York to Sydney. (AFP)
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The Boeing 787 Dreamliner touched down in Sydney early Sunday morning. (File/AP)
Updated 21 October 2019

Qantas completes longest non-stop New York-Sydney flight

  • The flight was 19 hours and 16 minutes long
  • Qantas says tests ranged from monitoring pilot brain waves, melatonin levels and alertness to exercise classes for passengers

SYDNEY: Australia’s Qantas on Sunday completed the first non-stop commercial flight from New York to Sydney, which was used to run a series of tests to assess the effects of ultra long-haul flights on crew fatigue and passenger jetlag.

The Boeing 787 Dreamliner touched down in Sydney early on Sunday morning after a flight of 19 hours and 16 minutes — the world’s longest.

Qantas said tests ranged from monitoring pilot brain waves, melatonin levels and alertness to exercise classes for passengers. A total of 49 people were on board, in order to minimize weight and give the necessary fuel range.

“Overall, we’re really happy with how the flight went and it’s great to have some of the data we need to help assess turning this into a regular service,” said Capt. Sean Golding, who led the four pilots.

The flight was part of Project Sunrise — Qantas’ goal to operate regular, non-stop commercial flights from Australia’s east coast cities of Brisbane, Sydney and Melbourne to London and New York. Two more research flights are planned as part of the project evaluations — London to Sydney in November and another New York to Sydney in December.

 

 

“We know ultra long-haul flights pose some extra challenges but that’s been true every time technology has allowed us to fly farther. The research we’re doing should give us better strategies for improving comfort and wellbeing along the way,” said Qantas Group CEO Alan Joyce.

Night flights usually start with dinner and then lights off, but he said that for this flight, “we started with lunch and kept the lights on for the first six hours, to match the time of day at our destination. It means you start reducing the jetlag straight away.”

Prof. Marie Carroll from the University of Sydney said that she and fellow passengers did a lot of stretching and group exercises at prescribed intervals.

“We did the macarena in the economy cabin,” she said.

 

Decoder

Project Sunrise

Project Sunrise is Qantas’ goal to operate regular, non-stop commercial flights from Australia’s east coast cities to London and New York.


$8bn blow to Erdogan as investors flee Turkey

Updated 09 July 2020

$8bn blow to Erdogan as investors flee Turkey

  • Overseas holdings in Istanbul stock exchange are at lowest in 16 years

ANKARA: Foreign capital is flooding out of Turkey in a massive vote of no confidence in President Recep Tayyip Erdogan’s economic competence.
Overseas investors have withdrawn nearly $8 billion from Turkish stocks since January, according to Central Bank statistics, reducing foreign investment in the Istanbul stock exchange from $32.3 billion to $24.4 billion.
As recently as 2013, the figure was $82 billion, and foreign investors now own less than 50 percent of stocks for the first time in 16 years.
“Foreign investment has left Turkey for several reasons, both internal and external,” Win Thin, global head of currency strategy at Brown Brothers Harriman, told Arab News.
“Externally, investors fled riskier assets like emerging markets during the height of the coronavirus pandemic. Some of those flows are returning, but investors are being much more discerning and Turkey does not seem so attractive.”
In terms of internal factors, Thin said that Turkish policymakers had made it hard for foreign investors to transact in Turkey. “This includes real money clients, not just speculative.
“By implementing ad hoc measures to try and limit speculative activity, Turkey has made it hard for real money as well. Besides these problems, Turkey’s fundamentals remain poor compared to much of the emerging markets.”
Erdogan allies claim international players are manipulating the Istanbul stock exchange through automated trading, and have demanded action to make it difficult for them to trade in Turkish assets.
Goldman Sachs, JPMorgan, Merrill Lynch, Barclays and Credit Suisse were banned this month from short-selling stocks for up to three months, and this year local lenders were briefly banned by the banking regulator from trading in Turkish lira with Citigroup, BNP Paribas and UBS
JPMorgan was investigated by Turkish authorities last year after the bank published a report that advised its clients to short sell the Turkish lira.
MSCI, the provider of research-based indexes and analytics, warned last month that it may relegate Turkey from emerging market status to frontier-market status because of bans on short selling and stock lending.
With the market becoming less transparent, overseas fund managers, especially with short-term portfolios, are unenthusiastic about the Turkish market and are becoming more concerned about any forthcoming introduction of other liquidity restrictions.
The exodus of foreign capital is likely to undermine Turkey’s drive for economic growth, especially during the coronavirus pandemic when employment and investment levels have gone down, with the Turkish lira facing serious volatility.