Nation’s four national carriers are expanding their present combined fleet of 502 aircraft
Dubai will host the first Global Investment in Aviation Summit (GIAS), a major aviation conference from 27-29 January 2019, to be attended by the world’s 500 top aviation finance, aviation asset managers, aircraft lessors, investors, airlines, aircraft manufacturers, maintenance, repair and overhaul (MRO) facilities, aviation logistics suppliers, fixed-base operators (FBOs), as the UAE emerges as the region’s biggest aviation hubs.
The high-profile delegates from 40 countries will include 20 Aviation Ambassadors, 10 knowledge partners, 200 aviation officials and 300 investors brainstorming throughout the three days.
The three-day aviation investment conference will take place as the UAE authorities are investing AED85 billion (US$23.16 billion) in airport development and expansion that will see its airports handle develop combined capacity to handle more than 300 million passengers annually.
These include AED30 billion (US$8 billion) in developing Al Maktoum International Airport, AED28 billion (US$7.6 billion) expansion of the Phase 4 of Dubai International Airport, AED25 billion (US$6.8 billion) re-development and expansion of Abu Dhabi International Airport – many of which are supported by the banks and financial institutions. In addition Sharjah International Airport is also undergoing a AED1.5 billion (US$410 million) investment in expansion of its terminal.
UAE in the lead
The UAE has 14 airports, air strips and airfields served by 113 airlines with a total annual take-off and landings exceeding 540,000.
In addition to these, the four UAE airlines are also investing billions of dollars in acquiring the latest aircraft models that will help the UAE economy to grow. All these developments need funding and the financial institutions and investors are also expanding their capabilities to support the economic growth.
“I am delighted to be here today as we prepare for the Global Investment in Aviation Summit. This summit is very close to UAE’s heart, as we have much to be proud of as a nation, from our humble aviation beginnings to now one of the biggest passenger hubs in the world,” Saif Mohammed Al Suwaidi, Director-General of the UAE General Civil Aviation Authority (GCAA), said at a recent press conference.
“Yet, looking forward, we know that we can still do more. In fact, conservatively, we anticipate accommodating 118 million passengers by 2023 at the Dubai International Airport, and 120 million passengers upon completion of phase 2 of the Dubai World Central, and 200 million passengers upon its completion, all in ultra-modern infrastructures that match, if not surpass, the best in the world,” continued Al Suwaidi.
Region on a roll
The combined fleet size of the four UAE airlines reached 502, including Emirates fleet of 268, Etihad Airways’ 120, flydubai’s 61 and Air Arabia’s 53. The UAE airlines add between 4-5 aircraft per month and the total combined fleet size of the UAE’s four airlines would cross 525 by the end of 2018. The UAE airlines have more than 300 more aircraft on order to join their fleets.
Dubai South, the world’s largest Aerotropolis hosting Al Maktoum International Airport, the world’s largest greenfield airport development, is undergoing a massive development programme with investment to the tune of AED110 billion (US$30 billion) for the future home of Emirates Airlines, the world’s largest international airline.
GIAS will feature International governments investment proposals delivered by key government officials and private sector top executives, and will provide attending financiers with a fact and figure checked perspective on ongoing and future projects.
