ISDM Consultancy Forays Into UAE To Streamline Debt Issues

Around 85 percent of United Arab Emirates (UAE) residents are in debt, of which 75 per cent are men and 25 per cent women. In terms of total debt by nationality in UAE, residents from India and Philippines rank the highest followed by Pakistan and South Africa.

These statistics were revealed by the International Swiss Debt Management (ISDM) Consultancy, a Dubai-based credit counseling and debt management company. Having launched in the region early this year, ISDM, the first debt management consultancy, works with a number of regional banks to help individuals and small businesses reduce their debt burden.

Servicing more than 3,000 clients currently, Yohannes Mazeingia, Managing Director, ISDM said: “The lack of stringent credit ratings polices and the culture of consumerism has lead to huge bad debts in the Emirate. A recent client survey revealed that the average individual debt is around AED500,000 in United Arab Emirates (UAE). This is a serious issue that needs to be addressed before it goes out of hand.”

The services on offer include solutions to individuals and small businesses – restructuring, negotiation, settlement and consolidation. With the restructuring and negotiation solution, ISDM negotiates with the bank for a reasonable payment solution within the individual’s budget. In the settlement solution, ISDM works for a final settlement amount agreeable to both the individual and bank. And finally, in the consolidation solution, ISDM works with the banks to consolidate a customer’s liabilities into one payment with a lower monthly installment and an extended loan term. In doing this, the individual is provided with an option of reducing the high interest rates on credit cards and moving to lower bank loans.

A detailed analysis is conducted at a nominal fee of AED350, where an individual’s financial liabilities are explored in detail. “We have recently launched a comprehensive package – The ISDM Debt Management Kit – which offers a complete solution to both individuals and small businesses,” adds Yohannes. “We understand the situation of debtors and work towards acquiring a win-win situation for both parties. We are currently proactive in UAE, but do get distress calls from people in India, Pakistan, Europe, and the Philippines.”
 

India’s Kingfisher Airlines Forays Into Middle East; Announces Launch Of UAE-India Flights

Kingfisher Airlines, India’s only Five Star airline rated by Skytrax, today announced its entry into the Middle East connecting India and the UAE, as part of its strategy of expanding its global footprint and adding new destinations to its international route network.

In a message sent to commemorate the launch of this new international route of Kingfisher Airlines, Dr. Vijay Mallya, Chairman and CEO, Kingfisher Airlines Limited, said, “Ever since its launch, Kingfisher Airlines has raised the bar with many market-firsts and innovations that have completely redefined the whole experience of flying. Given the strong linkages between the UAE and India, the launch of this new route will mean that travelers will now have the option to enjoy the award-winning Kingfisher Experience.”

Addressing the media at a press conference at the launch of its daily direct flights from Dubai to Bangalore, Mr. Siva Ramachandran, Vice President-Global Sales, Kingfisher Airlines Limited said: “I am delighted to announce the commencement of flights between Dubai and Bangalore which marks our entry into the UAE market for the first time. Dubai is the airline’s fourth international destination after London, Colombo and Dhaka. The flights between Dubai and Bangalore will be operated using the A320 family of aircraft featuring Kingfisher Class, the premium economy service from Kingfisher Airlines. What is unique to Kingfisher Airlines is that it has one of the largest networks in India connecting over 50 destinations from Bangalore which will assure seamless connectivity to our guests from the UAE who intend to fly to practically any major Indian city.”

Describing the launch of Kingfisher Airlines’ flight as an important development that further solidifies the strong links between the two vibrant and emerging economies and two vital entities, Mr. Richard Talian, Vice President, Strategy, Dubai Airports said, “While Dubai is the business and leisure capital of the region, Bangalore is the heart of India’s multi-billion dollar IT sector. And whereas Dubai Airports is considered one the world’s leading aviation hubs, Kingfisher Airlines is one of India’s fastest growing international carriers.”

The award-winning Kingfisher Experience includes onboard comforts so that guests are able to rest in the roomiest seats in the sky with a wide seat pitch and ample room to stretch their legs. Moreover, the dining options ensure that guests have an ample spread with a choice of mouth-watering options and a perfect accompaniment from a selection of beverages on board. The In-Flight Entertainment system will ensure enthralling world-class entertainment with a personal system on every seat featuring the latest blockbuster movies, English and Hindi TV programmes and Kingfisher Radio.

Mr. Ramachandran highlighted that the newly launched flights offer the best-in-class experience amongst the narrow-body products serving this route and this coupled with ideal and convenient timings, will offer travelers on this route a better option. “Our aim is to offer unprecedented convenience and comfort to our customers, both Indian expats as well as tourists from both countries. Thanks to our very competitive fares and Kingfisher Airlines’ vast and unparalleled domestic network in India, the initial response to the launch of these new flights has been extremely encouraging and we look forward to rapidly consolidating our market share on this new international route.”

The flight will take off from Dubai at 10:10 pm and reach Bangalore at 3:45 am, the following day. Kingfisher Airlines flights operate from Terminal 1 of Dubai Airport. The flights are conveniently timed with the flight from Bangalore leaving at 6:15 pm and reaching Dubai at 8:55 pm, local time.

Guests flying in to Bangalore from Dubai on Kingfisher Airlines will now have the added advantage of having very conveniently timed onward connections to many domestic destinations in India with almost immediate connections from Bangalore to Mangalore, Goa, Kochi, Thiruvananthapuram, Pune, Kolkata, Hubli, Belgaum, Nagpur, Guwahati, Bhubaneswar, Hyderabad and all major metros in India. In addition, guests will also have the option of conveniently timed onward connections on Kingfisher Airlines flights to international destinations like Colombo and Dhaka.

Bangalore is ideally placed as a transit hub for travelers flying from Belgaum, Chennai, Calicut, Coimbatore, Hubli, Kochi, Mangalore, Thiruvananthapuram and Vijaywada into Dubai as it offers easy connectivity, thanks to the fact that it has a minimum connect time. Outbound travelers connecting with this flight of Kingfisher Airlines will not have to change or transfer from one airport terminal to another as the domestic and international sections are less than 100 meters away from each other.

Kingfisher Airlines caters to all segments of the air travel ranging from low-fare service-Kingfisher Red, to the premium economy service-Kingfisher Class, to the luxurious Kingfisher First.