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.
Bombardier Defense will provide three Global 6500 aircraft to fly maritime surveillance missions for the Australian Border Force. Metrea - the originator and leading provider...
ExecuJet MRO Services Australasia is expanding its Falcon maintenance capability in Sydney, with new investments in specialist tooling, training and technical resources to support upcoming Falcon 7X h...
U.S.-based aircraft management, fractional ownership, jet cards, and charter services operator Airshare is equipping its fleet of Embraer Phenom 300s with the Gogo Galileo HDX system. The up...
Lufthansa is focusing more than ever on premium service: Following the introduction of the new in-flight service on all long-haul flights in early May, the number of destinations where passengers can...
