Subscribe Free
in Business & Finance / Airports

Dubai adds $3billion to airport expansion funding

Posted 4 November 2016 · Add Comment

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.
 

* required field

Post a comment

Other Stories
Advertisement
Latest News

DC Aviation Al-Futtaim expands managed aircraft fleet

DC Aviation Al-Futtaim (DCAF) has added another Bombardier Challenger aircraft to its managed fleet.

First Rolls-Royce Trent 7000 production engine despatched

The first Rolls-Royce Trent 7000 production engine was despatched yesterday to the Airbus facility in Toulouse, in readiness to power Airbus’s latest aircraft, the A330neo, into service.

Stand out seats

Seating was one of the key focuses when Aircraft Interiors Middle East took place in Dubai in January.

FIA2018: CAE signs commercial aviation training solutions contract with Qatar Airways

CAE has announced today at the 2018 Farnborough Airshow that it has sold five (5) CAE-built full-flight simulators (FFSs) – 3x Boeing 777X and 2x Boeing 737MAX – and two (2) flight training devices (FTDs) – one Boeing 777X and one Boeing

SalamAir to add six new A320neo to its growing fleet

Oman’s first budget airline, SalamAir, has signed an agreement to add six new A320neo aircraft to its fleet, of which five are on lease from an undisclosed lessor.

BAE Systems selects Raytheon's projector for UAE F-16 DLE HUD

Raytheon will design, develop and manufacture the projector for BAE Systems' Digital Light Engine (DLE) Head-Up Display (HUD) on the F-16 Fighting Falcon for the United Arab Emirates (UAE) armed forces.

TAA SK0902311218
See us at
BIAS BT271017161118GATM BT1004061118MEBAA BT1004121218AIME19BTA3005120219Istanbul Airshow BT22018Cargo BT1004091018Aviation Africa BT0607280219MAPS18_BT1207131118ASDubai BT1004091018