Travel – manitimes.com https://manitimes.com Latest News from all around the world Mon, 18 Mar 2024 07:52:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 https://manitimes.com/wp-content/uploads/2023/05/cropped-fevicon-32x32.png Travel – manitimes.com https://manitimes.com 32 32 Saudi Arabia wealth fund in talks to acquire national airline Saudia: Report https://manitimes.com/saudi-arabia-wealth-fund-in-talks-to-acquire-national-airline-saudia-report/ https://manitimes.com/saudi-arabia-wealth-fund-in-talks-to-acquire-national-airline-saudia-report/#respond Mon, 18 Mar 2024 07:52:17 +0000 https://manitimes.com/saudi-arabia-wealth-fund-in-talks-to-acquire-national-airline-saudia-report/

Boeing 787 Dreamliner Saudi Arabian. Aircraft to Fiumicino Leonardo da Vinci Airport. Fiumicino (Italia), Nov. 11, 2021

Massimo Insabato/Archivio Massimo Insabato/Mondadori Portfolio via Getty Images

Saudi Arabia’s behemoth sovereign wealth fund is in talks to buy the kingdom’s national airline Saudia, Bloomberg reported over the weekend, citing people familiar with the matter.

The reported move for the Public Investment Fund (PIF), which oversees $925 billion in assets, would track with its goals to invest heavily in tourism and transport assets, as it aims to turn Saudi Arabia into a tourist hub and diversify its economy away from oil.

According to the initial report, the acquisition would see the PIF take over the airline’s ownership from the government to increase its efficiency and ability to make profit. It could then either be privatized or merged with Riyadh Air, a separate airline owned by the PIF and launched in March 2023 to compete with other more established Gulf airlines.

Founded in 1945, Saudia has a fleet of 144 aircraft — 93 Airbus planes and 51 made by Boeing — and flies to more than 100 destinations, according to its website.

It is not yet known how the airline would be valued. Talks are said to be in early stages, and could be delayed or axed altogether, Bloomberg reported.

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These Senior Skiers Are Still Chasing Powder in Their 80s and 90s https://manitimes.com/these-senior-skiers-are-still-chasing-powder-in-their-80s-and-90s/ https://manitimes.com/these-senior-skiers-are-still-chasing-powder-in-their-80s-and-90s/#respond Sat, 16 Mar 2024 12:10:47 +0000 https://manitimes.com/these-senior-skiers-are-still-chasing-powder-in-their-80s-and-90s/

It was a bluebird morning at the Alta Ski Area and Carol Bowling, 76, was looking for fresh powder.

Her husband, Nick, 83, and his cousin Bob Phillips, 84, shouted over the whir of the chairlift, deciding where to go. “Something like this is skiable,” Mr. Phillips said of the black diamond run below the lift.

At the top, the trio tightened their boots and waited for a few more friends. It was a Wednesday in late February at the Utah resort, one of the oldest in the country. The morning was cold and crisp with a few inches of new snow.

It was time to ski. The group headed down Devil’s Elbow, a winding intermediate run. Mrs. Bowling found her powder, cutting left from the trail into the pine and spruce trees. The two men stayed together in the open, carving wide S-shaped turns.

When they reached the bottom, it was almost 11 a.m. — time to meet up with Alta’s seniors ski club, the Wild old Bunch.