Financing for the upcoming Dh128-billion Al Maktoum Airport in Dubai South will not be an issue as many local and global firms will be keen to fund the mega project, said Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO of Emirates Airline and Group.
“Any project in Dubai when we decide to launch, financing will always be part of it. Today, we know that a lot of companies locally and internationally will be very keen and interested in financing this project from baggage handling system to parking to terminals,” Sheikh Ahmed said during a media briefing on the sidelines of the Arabian Travel Market on Tuesday.
On April 28, the Dubai government announced that all operations at Dubai International (DXB) airport will be relocated to Al Maktoum International Airport in Dubai South over the next 10 years. Set to be built at a cost of Dh128 billion, the airport will have a passenger capacity of 260 million per annum and fully absorb Dubai airport operations.
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“For a passenger terminal with 260 million capacity, we need about 8 to 10 years of construction. We are going from 1 to 5 runways and that will take some time to do,” he said, adding that this will ensure that “there is no constraint on roads and traffic” that DXB faces.
For Dubai, he stressed that “it is always about the service level and keeping that level at the top. Continuing here at DXB beyond that time will make us not offering the right services.”
Emirates airline is set to announce annual results soon and Sheikh Ahmed said results will “be better”.
“In Dubai, every industry did better, we should do better (also),” the Emirates chairman said in a reply to a question about full-year results.
Not happy with 777-X delays
Sheikh Ahmed said that he is “not happy” with the delays of the Boeing 777-X, for which the airline is the biggest customer.
Dubai’s flagship carrier is the largest buyer of the 400-seat plane which was originally due in 2020. Boeing has most recently said it expects its first delivery in 2025.
“I hope that the new management at Boeing will put all the efforts into fixing Boeing and deliver new aircraft 777-X. I met with the Boeing management, they promised that they will do their best to fix it… We are in communication with Boeing to determine the date because although that puts a lot of pressure on Dubai and Emirates fleet and this is why we extended refurbishment programme of existing fleet,” he said during the media briefing.