✈️ 🧑‍✈️ Etihad Airways' Passenger Numbers Surge 40%

Marhaba folks! 🌞In today's edition, we cover Etihad Airways' 40% surge in passenger numbers, Anant Ambani and Radhika Merchant's lavish wedding costs estimated at $132-156 million, and UAE-based blockchain AI startup Sentient Labs securing $85 million in seed funding. Yalla, let’s go 🏃🏻‍♀️

✈️ 🧑‍✈️ Etihad Airways' Passenger Numbers Surge 40% to 8.7 million this Year

What is it about:

• Etihad Airways' significant growth in passenger numbers and fleet expansion in the first half of 2024.

• They flew 8.7 million passengers from January to June, a 40% increase from the previous year.

• In June alone, there was a 34% year-on-year increase in passenger numbers.

• The airline achieved an 85% load factor for the year.

• Etihad's fleet now totals 92 aircraft, up from 76 a year ago.

Why does it matter:

• Demonstrates strong recovery and growth momentum in the aviation sector post-pandemic.

• Indicates increasing passenger confidence and demand for air travel.

• Highlights Etihad Airways' successful strategies in expanding its operations and managing capacity effectively.

What is next:

• Etihad aims to double its fleet size to 150 planes by 2030.

• Plans to navigate challenges in aircraft supply through a flexible procurement strategy.

📈 Markets

👰 💵 Anant Ambani and Radhika Merchant's $132-156 Million Wedding

What is it about:

• Anant Ambani, son of Mukesh Ambani (Asia's richest man), and Radhika Merchant's wedding celebrations.

• The festivities began with a grand three-day pre-wedding event in Jamnagar in March.

• Performances during the pre-wedding event included Rihanna, Akon, and Diljit Dosanjh.

• A luxury cruise from Italy to France in June hosted VIP guests with performances by Katy Perry and the Backstreet Boys.

• Guests received extravagant gifts including private charter flights, luxury cars, Louis Vuitton bags, gold chains, and designer footwear.

• The sangeet ceremony on July 5th featured Justin Bieber as the headlining performer, alongside rappers Badshah and Karan Aujila.

Why does it matter:

• Highlights the extravagant spending and luxury associated with one of the most high-profile weddings globally.

• Reflects the influence and wealth of the Ambani family, known for their opulent lifestyle.

• Draws attention to the international allure of the event, with prominent global figures in attendance.

What is next:

• The wedding and related celebrations are likely to continue with further lavish events and entertainment.

• The event sets a new benchmark in luxury and entertainment for future high-profile weddings globally.

Quote of the day

"Technology is best when it brings people together." - Matt Mullenweg

🧑‍💻 UAE-based Blockchain-Powered AI Startup Sentient Labs Raises $85M in Seed Funding

What is it about:

• UAE-based startup Sentient Labs has raised $85 million in seed funding.

• The funding round was co-led by Founders Fund, Pantera Capital, and Framework Ventures.

• Established in 2024, Sentient Labs aims to empower AI developers to monetize their open-source models and data.

• The startup operates similarly to ecosystems like the Super Intelligence Alliance.

• Sentient Labs leverages blockchain technology and AI to improve the identification of human online activity.

Why does it matter:

• Highlights the significant investment and confidence in blockchain-powered AI startups.

• Addresses the current landscape dominated by closed-source AI, aiming to decentralize power and incentivize developers.

• Signals a shift towards democratizing AI development and promoting open-source initiatives.

What is next:

• Sentient Labs will likely use the funding to further develop its platform and expand its capabilities.

• The startup may focus on attracting more AI developers and building partnerships within the AI and blockchain communities.

• Future plans may include enhancing the security and transparency of AI models through blockchain technology.

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