Aviation news analysis
50 SKY SHADES - World aviation news

Dubai adds $3billion to airport expansion funding

Download: Printable PDF Date: 06 Nov 2016 12:50 categories:
Publisher:
Dubai adds $3billion to airport expansion funding - Airports / Routes publisher
Krista Kuznecova
Country: United Arab Emirates

Dubai is looking to raise US $3 billion to fund expansion of its two international airports and has hired HSBC to advise on raising the finance. The Department of Finance, Government of Dubai, says HSBC will advise it, the Investment Corporation of Dubai and Dubai Aviation City Corporation on raising funds through various sources, including Islamic financing.

The emirate wants to boost annual passenger flows at its Dubai (DXB) and Al Maktoum (DWC) international airports to 146 million by 2025 from 78.5 million last year.

"Dubai remains firmly committed to the development of the Al Maktoum International Airport and to the growth of the global aviation sector, and this initial $3bn transaction to support Dubai’s ambitious 2025 passenger capacity targets is testament to our belief," said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai’s Supreme Fiscal Committee. DXB is already the world’s busiest airport in terms of passenger traffic handling the bulk – 78 million – of the emirate’s 2015 throughput.

From 2025, DWC will become Dubai’s primary airport and home to Emirates Airline.



Loading comments for Dubai adds $3billion to airport expansion funding...


Recommended

Teamwork of the future

Manned Unmanned Teaming (MUM-T) multiplies the capabilities of helicopters and unmanned aerial systems. By controlling drones from the air, military and parapublic crews can explore tough-to-access ar...

IATA: Preparing for the new era of airline retailing

The International Air Transport Association (IATA) announced that the Airline Industry Retailing Symposium (AIRS), formerly part of the World Passenger Symposium (WPS), will focus on how changes in di...

Aviation History – CIDNA – East Arrow

Looking back to the beginning of 20 century, how fast was the air travel in your opinion? How interesting were destinations maps, what service packages existed? Visiting Bucharest Aurel Vlaicu...

At Least 5 Medium Size EU Airline Will Go Bankrupt in 2018-2019

Gediminas Ziemelis Between 2004 and 2015, the US airline industry saw 11 major air carriers merge into 4. This massive consolidation took place as a response to industry slowdowns and from the lack...