Airport Show 2024: Dubai Aviation Thriving With $35bn Al Maktoum International Airport And Record $4.7bn Emirates Profit
Dubai aviation sector is flying high as it starts work on a $35bn airport upgrade, Emirates reports record profits and industry experts gather for annual event.
Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group, inaugurated the 23rd edition of Airport Show at the Dubai World Trade Centre (DWTC) on Tuesday, May 14, 2024.
The leading annual exhibition dedicated to the Middle East, Africa and South Asia (MEASA) was opened amid the brightest outlook for the global aviation industry, the Middle East in particular, after complete recovery, prospects for all-time record in passenger numbers, grand airport expansions – all consolidating Dubai’s pre-eminence as the global hub of civil aviation.
Airport Show Dubai 2024
Sheikh Ahmed said: “Airport Show has evolved into a prominent B2B platform and a driving force for the airport industry to source their requirements, learn about fast-changing business dynamics and emerging trends and disruptive technologies.
“Every major airport is aiming to go big – in terms of growth targets, investments and innovations. This event will provide airport leaders a unique opportunity to delve into the latest advancements in airport sustainability, digitalisation, and urban air mobility.”
This year’s Airport Show is organised in the wake of the grand announcement by Dubai the plans for the construction of the world’s largest airport terminal.
The $35bn Al Maktoum International Airport is envisaged to have a capacity for 260m passengers upon completion, five times the size of the current DXB.
All operations at Dubai International (DXB) will be transferred to Al Maktoum International Airport (DWC) over the next few years. A new AED128bn ($35bn) passenger terminal at the Dubai World Central will scale up passenger capacity to 260m annually and fully absorb DXB’s operations in ten years.
It will have five parallel runways and 400 aircraft gates.
The future growth of the aviation industry is exemplified by the results of Emirates, the world’s largest long-haul airline, which is in a strong position for future growth after it posted a record annual profit $4.7bn in its financial year that ended on March 31, up 63 per cent from $2.72bn profit in the previous year.
Paul Griffiths, the CEO of Dubai Airports said, said: “The expansion of Al Maktoum International Airport (DWC) signifies a monumental leap for Dubai’s aviation landscape. With a significant investment of AED128bn, we’re not just building another airport; we’re shaping the very future of air travel and reimagining the airport of tomorrow.
“This project underscores Dubai’s unwavering commitment to providing our diverse and rapidly growing number of guests, world-class infrastructure and experiences.”
Griffiths, who addressed the Global Aviation Leaders’ Forum (GALF) collocated at the Airport Show on the opening day, added: “As DXB continues to thrive, DWC’s expansion will unlock new opportunities for travel, tourism, logistics, and trade globally.
“We’re excited to collaborate with our partners and stakeholders on this transformative and ambitious journey, ensuring that Dubai remains at the forefront of the aviation industry for years to come.”
The optimistic outlook is also derived from the Airports Council International (ACI)’s view that 2024 will be a milestone for global passenger traffic recovery as it reaches 9.4bn passengers, surpassing the all-time high 9.2bn passengers handled in 2019.
Aircraft movements are forecast to grow to 111.6m by 2026.
Airports worldwide will see 153.8m aircraft movements by 2041.
The three-day, trade-only Airport Show exhibition is providing opportunities to explore, experience and source several advanced airport technologies, innovations and solutions along with networking with business leaders and market movers.
More than 150 exhibitors from more than 20 countries are participating in the exhibition which features four country pavilions and more than 120 buyers from more than 35 countries.
Among the key airport project leaders participating include:
- Air India SATS Airport Services
- Airports of Thailand
- Angkasa Pura Airports of Indonesia
- Armenia International Airports
- Singapore’s BOC Aviation
- CAAB of Botswana
- Egyptian Airports Company (EAC)
- Erbil International Airport
- Hong Kong International Airport
- Mactan- Cebu International Airport Authority
- New Delhi Airport
- Ntech Aviation of South Africa
- Pakistan Civil Aviation Authority
- Uganda Civil Aviation Authority
- Yerevan Zvartnots International Airport of Armenia
