Dubai committed to development of airports and growth of global aviation sector
Dubai remains firmly committed to the development of the Al Maktoum International Airport and to the growth of the global aviation sector, Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai's Supreme Fiscal Committee, and chief executive and chairman of Emirates Airline and Group, has stated.
He was responding to Dubai sponsoring the $3 billion (Dh 11 billion) airport finance deal, in which HSBC was chosen to arrange the funding towards the expansion of Al Maktoum International Airport.
Dubai’s two international airports are set for a capacity-boosting, capex-fuelled expansion that will enable them to serve up to 146 million passengers by 2025, due in large part to a proposed initial $3 billion (Dh 11 billion) financing transaction announced by the government of Dubai, according to the November 2016 cover story of Via Dubai, the monthly publication of the Dubai Civil Aviation Authority (DCAA).
Under the proposed financing arrangement, coordinated by the Department of Finance (DoF), Investment Corporation of Dubai (ICD) and Dubai Aviation City Corporation (DACC), the three parties will work jointly to raise financing from various liquidity sources, both conventional and Islamic.
Mohammed Abdulla Ahli, director-general of DCAA, elaborated on the Authority’s active participation in the Gitex Technology Week 2016 by showcasing the latest smart and innovative services as well as unveiling the ‘Drone Hunter’, the aircraft introduced to identify drones operating near the city’s airports.
In a special report on IATA’s World Passenger Symposium in Dubai, the magazine reported the UAE, Qatar and Saudi Arabia will enjoy strong growth of 6.3 per cent, 4.7 per cent, and 4.1 per cent respectively. The total market size will be 414 million passengers. The Middle East will grow strongly, at 5 per cent, and will see an extra 258 million passengers a year on routes to, from and within the region by 2035.
The symposium in Dubai was significant that the IATA adopted a resolution on a standard for the One Order initiative. Leveraging the data communication advances from the New Distribution Capability (NDC), One Order will modernize and simplify airline order management, including the delivery, fulfilment and accounting processes related to airline products and services. For passengers, One Order will mean the gradual disappearance of multiple reservation records in favour of one document and a single order number.
Alexandre de Juniac, Director-General and CEO, The International Air Transport Association (IATA), said on average, each day, an air transport workforce of 8 million people supports 100,000 commercial flights that collectively carry over 10 million passengers, and called upon all stakeholders to strengthen the defences with integrated solutions in the face of evolving security threats.