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Sat 27 Mar 2010 08:09 AM

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Ahmed Bin Zayed missing in Morocco plane crash

Sailplane carrying younger brother of UAE's president crashes into a lake.

Ahmed Bin Zayed missing in Morocco plane crash
(Getty Images)

The managing director of Abu Dhabi Investment Authority (Adia), considered the world's biggest sovereign wealth fund, is missing after a glider plane crash in Morocco, the state news agency WAM said on Friday.

Sheikh Ahmed bin Zayed Al Nahyan is a younger brother of the ruler of Abu Dhabi, who is also president of the United Arab Emirates, but is not immediately in line for succession.

"Sheikh Ahmed bin Zayed al-Nahayan ... was in a crash of a glider which was airborne in Morocco. The pilot was rescued and is in good condition. The search for His Highness is still continuing," WAM said in a statement.

The plane had crashed into a lake, WAM reported.

An ADIA spokesman declined to comment.

Sheikh Ahmed was No. 27 on Forbes list of the world's most powerful people last year.

The sovereign wealth fund, formed in 1976, is believed to have assets of around $500-$700 billion (336-471 billion pounds).

In a rare interview in January, Sheikh Ahmed said the wealth fund was refining its investment approach and might consider a larger investment than its rarely exceeded 5 percent stakes.

"The rumours that circulate occasionally about Adia planning takeover bids or looking to buy controlling stakes in one company or another are invariably a case of mistaken identity," he said in the interview published in German business daily Handelsblatt. (Reuters)

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Amitabh Khanna 10 years ago

We hope he returns safely. The country needs continuity in the executive roles and above all ADIA.

Mohamed Jeelani 10 years ago

Insha Allah he will return home soon safely, we all love the rulers here, we pray for his highness Sheikh Ahmad's safety, good health and long life. We thank the rulers for the excellent living and working conditions they have provided by grace of Allah.

shoukat imam 10 years ago

we pray he return safely ya allah khair inshallah.

Sameera 10 years ago

I was deeply upset to learn of this news, All our prayers are being sent for him.... & all our hopes to be found nearly and as soon as possible.... May Allah accept our prayers and save him soon whose one of our dearest dear....

SYED HAROON SAYEED 10 years ago

From Qatar we all pray the Almighty Allah for the safe return of his highness Sheikh Ahmed Bin Zayed Al-Nahyan, UAE needs him badly.

Shezad Mohammed Saleem 10 years ago

Insha Allah Sheikh Ahmed Bin Zayed Al Nahyan will return Home soon safely and with good health, The entire Nations Prayers are with him, His Highness is a very WISE Person and the Great Leader to the Nation.