Britain’s Heathrow to shrink operations during coronavirus

Heathrow said it would cut costs to preserve cash during the coronavirus crisis. (AFP)
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Updated 20 March 2020
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Britain’s Heathrow to shrink operations during coronavirus

  • Heathrow said it had a 12-month liquidity horizon through cash and committed facilities of £3.3 billion available

LONDON: Britain’s Heathrow Airport said it would shrink its operation as part of a plan to keep open for some cargo and passenger flights during the coronavirus crisis, which has brought most air travel to a standstill.
Heathrow, which is usually Europe’s busiest airport, said it would cut costs to preserve cash as it warned its financial performance would be severely affected by the current situation.
Owned by Spain’s Ferrovial, the Qatar Investment Authority, China Investment Corp. and others, Heathrow said it had a 12-month liquidity horizon through cash and committed facilities of £3.3 billion available.
Airlines and airports are expecting a range of government support measured to be announced in the coming days.


Governments must recognize their ultimate responsibility to serve people says WGS chairman

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Governments must recognize their ultimate responsibility to serve people says WGS chairman

  • Mohammed Al-Gergawi outlines growth of AI, medical tech
  • World’s governments must adapt to globe’s new challenges

DUBAI: Governments must recognize their ultimate responsibility to serve people, said World Governments Foundation Chairman Mohammed Al-Gergawi on Tuesday.

Al-Gergawi made the comments during a speech at the opening ceremony of the World Governments Summit in Madinat Jumeirah. The event is being held under the theme “Shaping Future Governments,” and brings together leaders and officials from all over the world.

Al-Gergawi said humans were embarking on a new era focusing on four core driving forces, which require governments to adjust accordingly.

“Four main forces are changing the core nature of humanity, artificial intelligence, advanced medicine, brain sciences and digital environments,” he explained.

“AI is no longer an assistant but a partner of thinking. AI is currently a partner but it can be a transient partnership which can evolve into a contributing intelligence and a decisive intelligence.

“We are not adding a new technology to life, but we are adding a new layer of thinking, learning and making decisions,” he said.

Al-Gergawi said advanced medicine would also be a leading force of change for humanity.

Referencing recent studies, he said the cost of human genome sequencing has decreased from $100 million to less than $600 dollars and global life expectancy had more than doubled in a century.

Al-Gergawi predicted the next big discovery for humanity would not be in space but within our brains. “Will upcoming investments be in developing human capabilities?” he asked.

In terms of digital environments, he said more than 5.5 billion people are connected to the internet and our perception of identity had completely changed.

“Life as we know it has changed pace. People have shorter concentration spans and can be distracted much more easily. We have a different perception of identity. No longer one identity but multiple versions of ourselves,” he explained.

Al-Gergawi said governments must completely redesign the way they operate and transition to human-centered institutions in governance.

“Some governments led while others waited, but history forgets those who wait,” he added.

He also emphasized the need to recognize Generation Z in decision-making and governance and to adapt existing systems to fit their needs.

“By 2040, Gen Z will form 40 percent of the global workforce. It’s a generation shaped by ‘the now’ with instant services, and learning. Gen Z became a daily pressuring force on public decision making,” he added.