Tag Archives: dubai investment news
Emirates reveals impressive financial results
Emirates Airline has revealed impressive financial results for 2012, with the group clawing in net profits of AED 3.1 billion (£548 million).This is the 25th consecutive year that the company has made a profit and the firm also surpassed the 39 million passenger milestone.The fact that the global economy has remained fragile and fuel prices have risen so sharply in the past 12 months makes Emirates' performance look even more impressive.Profits were 34 per cent higher than last year and the airline also achieved its largest aircraft capacity increase in history, with 34 new vessels being added to the fleet. In addition to this, the business introduced an extra ten routes.Emirates has been responsible for much of the astronomical growth seen at Dubai International Airport in the past few years, as it has created a plethora of new services that enable people from all over the world to travel directly to the UAE.His Highness Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline and Group, highlighted just how much money the firm has reinvested into its enterprise.Indeed, he confirmed that in 2012/13, AED 13.8 billion had been pumped into new aircrafts, services, products and facilities, which includes the JW Marriott Marquis Hotel in Dubai.”Every dirham that we earn is strategically placed back into our business and it is this tenacious approach that has allowed the group to maintain such strong and consistent profitability under challenging circumstances,” Mr Al Maktoum remarked.”We continue to grow and remain profitable despite the industry norms because we continue to rely on our proven business model and understanding of the marketplace.”The firm's strong marketing campaigns and high-profile sponsorship deals have undoubtedly helped it to build a positive reputation around the world.As well as securing a tie-up with Formula One, the carrier also endorses a number of top football clubs, including Arsenal and newly-crowned French champions Paris Saint Germain. Continue reading
The Dubai Cruise Terminal expects to welcome 420,000 cruise passengers this year
In line with the recently revealed Dubai Department of Tourism and Commerce Marketing’s (DTCM) tourism vision for 2020, of 20 million tourists a year, Dubai will see cruise tourist numbers reaching the one-million mark, according to a senior DTCM executive. The Dubai Cruise Terminal expects to welcome 420,000 cruise passengers this year with 110 ship calls, as per DTCM estimates, up from the 407,000 cruise passengers it saw coming in 2012 with 105 ship calls. “Cruise tourism is an important part of the tourism industry as a whole. As part of the new vision, cruise tourist numbers will at least double from the current numbers. So our target by 2020 would be one million cruise passengers. And I think that is achievable,” Hamad Bin Mejren, Executive Director-Business Tourism at DTCM, told Gulf News in an interview on Thursday, on the sidelines of the Arabian Travel Market (ATM). He added that cruise tourism’s contribution to Dubai’s economy between 2010 and 2015 is estimated to be around Dh3.5 billion, as per an independent study. “Our objectives are to grow cruise tourism both in terms of international visitors using Dubai as an embarkation point and residents of the UAE taking cruises around the region,” Bin Mejren pointed out. Continue reading
Dubai International Airport set for runway upgrade
The runways at Dubai International Airport will be upgraded in 2014, bosses at Dubai Airports have confirmed.An 80-day project will be launched in May next year, which will see significant improvements made to the north and south runways. Some 3,000 runway lights will also be installed as part of the programme.Although the scheme will inevitably cause disruptions, airport chiefs insist the works have been meticulously planned. Talks have been held with airlines over a possible reduction in flights during the project, while Dubai World Central Airport – which will launch passenger services in October 2013 – will also be used to ensure people can still gain access to the emirate.Chief executive officer at Dubai Airports Paul Griffiths said safety and service are his two main priorities.”While we regret any inconvenience caused to our airline customers and our passengers, these upgrades are necessary to heighten safety, boost capacity and quite literally pave the way for future expansion,” he remarked.The airport has grown considerably in recent years and the capacity currently stands at 75 million passengers a year. This is set to reach 90 million by the end of the decade and there has been talk of even more expansion work beyond this.Around 66 million people are expected to fly into Dubai International in 2013 and this figure should increase in the coming years.The runway works will be crucial if the aviation hub is to become the busiest airport on the planet. This title is currently held by London's Heathrow, but with huge new airports emerging in places like China and Turkey, competition is fierce.Dubai International is in very good shape though, as a record 5.8 million passengers passed through the complex in March 2013, which was a 20.6 per cent increase on the corresponding month in 2012.Mr Griffiths said the airport has had a very successful start to the year and it has established itself as one of the most efficient aviation hubs in the world, with an average of 208 passengers boarding each plane. Continue reading
