Frankly Speaking: Emirates Airline chief Tim Clark expects return to ‘full capacity’ by summer of 2022

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Updated 04 July 2021
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Frankly Speaking: Emirates Airline chief Tim Clark expects return to ‘full capacity’ by summer of 2022

  • Once the pandemic is over, there will be a tsunami of demand from people wanting to travel, Clark told Arab News
  • Appearing on Frankly Speaking, he also offered advice on Saudi plans for launching a second international airline

 

DUBAI: Emirates will be back to full capacity by next summer as the pandemic-stricken aviation industry enjoys an “exceptional surge” in passenger numbers, Sir Tim Clark, the airline’s president, told Arab News.

“Taking the short-term view, I think we’ve got another six months of difficulty. If you ask me about the summer of 2022, I’m fairly confident that next year we’ll see a completely different picture, and that certainly airlines like Emirates will have restored themselves to full capacity, albeit possibly six months later than we originally thought,” he said.

“Once the pandemic is over, there will be a tsunami of demand from people wanting to travel — whether it be friends and relatives, second homes, business, leisure — the multiple segments all of which have been suppressed over the last 15 or 16 months,” Clark added.

He gave his confident forecast during an interview on Frankly Speaking, the series of video interviews with influential policy-makers and business people.

In the course of a wide-ranging discussion about the Dubai-based carrier and the global aviation industry, Clark spoke of the improving financial situation at Emirates, which lost $5.5 billion last year, as well as the possibility of a merger with rival Abu Dhabi airline Etihad.




Emirates has suffered financially during the pandemic lockdown, which grounded its fleet entirely for two months before a selective reopening from last summer. (AFP/File Photo)

He also discussed the future of the A380 aircraft, which has not taken to the air since the pandemic struck last year, and offered some expert advice to Saudi Arabia as the Kingdom plans to launch a second international airline.

He was adamant that the Emirates business model — providing global connectivity around the Dubai hub for an ever-increasing air travel market — would be effective “in perpetuity.”

“Are you suggesting that people won’t travel, that they won’t want to do all the things that they did prior to the pandemic? Are you suggesting that, as many do, that you and I talking on these video conferencing platforms is going to kill the need to travel on business? Are people not going to travel for holidays, for leisure, for visiting friends and relatives for the multiplicity of reasons that people travel across the planet,” he asked.

“Dubai will reassert itself as a global super hub. It’ll strengthen that. The airport will strengthen, and we’ll have more cities on the network within the next three to five years. So just watch this space.”

Dubai was right to reopen its economy and its airline last year even as the pandemic raged around the world and new variants of the virus emerged, Clark insisted.

“They were first movers, remember, in establishing lockdown in April and May last year. They were early movers in the acceptance that vaccines are going to sort the problem out eventually. So, did they make the right decision? Yes, they did. The airline adapted fairly quickly as it has done to the downturn as a result of new variants coming out, but again the town, the city (Dubai), will adapt. It’s known for its adaptability,” he said.




During a Frankly Speaking interview, Clark spoke of the improving financial situation at Emirates, which lost $5.5 billion last year, as well as the possibility of a merger with rival Abu Dhabi airline Etihad. (AN Photo)

The US air travel market would be the first to show a significant increase, he said, followed in “fits and starts” by Europe and the rest of the world, as vaccines are rolled out globally and medical treatment for the infection improves. But Clark was uncertain as to when the important UK air routes with the UAE would reopen without quarantine and other restrictions that have kept that market depressed.

“My own view has been expressed fairly forcefully to the UK government and I know the UAE foreign ministry has been fairly assertive on this. There is no reason why the UAE should be on the red list at all in my view, particularly as the country is so well on top of the problem,” he said.

The UK has said it will fully reopen its economy later this month, on July 19, but was unsure whether this would mean full reopening of flights with the UAE.

“They’ve got to accept of course that if their citizens have been vaccinated and go anywhere, the reciprocal has got to be in place. I think with all that, the evidence will suggest that probably by August, September they will be more relaxed about entry and travel,” he said.

Clark also hopes that by the autumn Saudi Arabia would reopen the lucrative routes between Dubai and business centers in the Kingdom, which have been closed because of pandemic precautions.

He offered advice to the Kingdom’s policymakers as they plan the launch of a second international airline alongside Saudia.




An Emirates Airbus A380-842 grounded at Dubai international Airport after Emirates suspended all passenger operations amid the COVID-19 coronavirus pandemic, on March 24, 2020. (AFP/File Photo)

“With anything like this, you’ve got to have the right people who know what they’re doing. They obviously need a large amount of cash to get things going, which I’m sure they have in Saudi Arabia. If they believe that an additional airline, perhaps operating a slightly different business model, will be necessary, I’m sure they’ll just get on with it,” he said.

Emirates has suffered financially during the pandemic lockdown, which grounded its fleet entirely for two months before a selective reopening from last summer. But Clark foresees an end to losses “probably within the next year or two”, although it is still unclear whether the airline will need more support from the Dubai government on top of the $3.1 billion it has already received.

“It’s anybody’s guess. Much will depend on what happens over the next six and nine months. The cash burn has slowed, and we are not in a cash critical situation at the moment. I am 100 percent convinced that the Dubai government will do what it takes to ensure that Emirates is financially secure,” he said.

He expected the Expo 2020 world exhibition that begins in Dubai in October to provide a “fillip” to the airline’s business.

The financial damage from the pandemic has again raised the issue of a merger between Emirates and Etihad, but Clark said this matter was “well above my pay grade.” He believes there will be more operational and backroom collaboration between the two airlines, but that did not imply a full-blown merger, which would require a deal between the governments of Dubai and Abu Dhabi.




Clark is adamant that the Emirates business model — providing global connectivity around the Dubai hub for an ever-increasing air travel market — would be effective “in perpetuity.” (AFP/File Photo)

The Airbus A380 wide-bodied plane was critical to Emirates’ expansion and profitability before the pandemic struck, but more than 100 of the planes have been parked since last year. There are plans to return some to service this summer, and Clark was confident about the aircraft.

Emirates has just taken delivery of two new A380s, and three more are being delivered in November, although the European manufacturer has said it will not build any more of the aircraft. “So, in the fullness of time of course it will have to go, but, in the meantime, we will work this aircraft, we will spend money on it, to refurbish it, to improve the product, make it even more attractive,” he said.

Clark, who has been with Emirates for three and a half decades, was due to retire last year, but agreed to stay on to deal with the pandemic. He declined to say whether a new departure date had been set.

“I’ve got a great bunch of guys I work with, and they’ve been working with me for the last 20 years. So, goodness me, the shareholder has got plenty of opportunity to select or do what they want to do with regard to the business. It’s not really relevant in the scheme of things whether I’m here or not,” he said.

He added that he hopes to stay on with the airline in an advisory capacity after he steps down from the presidency, and would like to focus on charitable activities like the Emirates Airline Foundation. But he did not rule out another big job in global aviation.

“I’m not saying I wouldn’t do it if I was asked, but I would prefer to get involved in things other than the commercial world,” Clark said.

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Twitter: @FrankKaneDubai


How AI and financial literacy are redefining the Saudi workforce

Updated 26 December 2025
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How AI and financial literacy are redefining the Saudi workforce

  • Preparing people capable of navigating money and machines with confidence

ALKHOBAR: Saudi Arabia’s workforce is entering a transformative phase where digital fluency meets financial empowerment. 

As Vision 2030 drives economic diversification, experts emphasize that the Kingdom’s most valuable asset is not just technology—but people capable of navigating both money and machines with confidence.

For Shereen Tawfiq, co-founder and CEO of Balinca, financial literacy is far from a soft skill. It is a cornerstone of national growth. Her company trains individuals and organizations through gamified simulations that teach financial logic, risk assessment, and strategic decision-making—skills she calls “the true language of empowerment.”

An AI-driven interface showing advanced data insights, highlighting the increasing demand for leaders who can navigate both technology and strategy. (creativecommons.org)

“Our projection builds on the untapped potential of Saudi women as entrepreneurs and investors,” she said. “If even 10–15 percent of women-led SMEs evolve into growth ventures over the next five years, this could inject $50–$70 billion into GDP through new job creation, capital flows, and innovation.”

Tawfiq, one of the first Saudi women to work in banking and later an adviser to the Ministry of Economy and Planning on private sector development, helped design early frameworks for the Kingdom’s venture-capital ecosystem—a transformation she describes as “a national case study in ambition.”

“Back in 2015, I proposed a 15-year roadmap to build the PE and VC market,” she recalled. “The minister told me, ‘you’re not ambitious enough, make it happen in five.’” Within years, Saudi Arabia had a thriving investment ecosystem supporting startups and non-oil growth.

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At Balinca, Tawfiq replaces theory with immersion. Participants make business decisions in interactive simulations and immediately see their financial impact.

“Balinca teaches finance by hacking the brain, not just feeding information,” she said. “Our simulations create what we call a ‘business gut feeling’—an intuitive grasp of finance that traditional training or even AI platforms can’t replicate.”

While AI can personalize lessons, she believes behavioral learning still requires human experience.

Saudi women take part in a financial skills workshop, reflecting the growing role of financial literacy in shaping the Kingdom’s emerging leadership landscape. (AN File)

“AI can democratize access,” she said, “but judgment, ethics, and financial reasoning still depend on people. We train learners to use AI as a co-pilot, not a crutch.”

Her work aligns with a broader national agenda. The Financial Sector Development Program and Al Tamayyuz Academy are part of Vision 2030’s effort to elevate financial acumen across industries. “In Saudi Arabia, financial literacy is a national project,” she said. “When every sector thinks like a business, the nation gains stability.”

Jonathan Holmes, managing director for Korn Ferry Middle East, sees Saudi Arabia’s digital transformation producing a new generation of leaders—agile, data-literate, and unafraid of disruption.

“What we’re seeing in the Saudi market is that AI is tied directly to the nation’s economic growth story,” Holmes told Arab News. “Unlike in many Western markets where AI is viewed as a threat, here it’s seen as a catalyst for progress.”

Saudi Arabia's Vision 2030 and the national AI strategy are producing “younger, more dynamic, and more tech-fluent” executives who lead with speed and adaptability. (SPA photo)

Holmes noted that Vision 2030 and the national AI strategy are producing “younger, more dynamic, and more tech-fluent” executives who lead with speed and adaptability. Korn Ferry’s CEO Tracker Report highlighted a notable rise in first-time CEO appointments in Saudi Arabia’s listed firms, signaling deliberate generational renewal.

Korn Ferry research identifies six traits for AI-ready leadership: sustaining vision, decisive action, scaling for impact, continuous learning, addressing fear, and pushing beyond early success.

“Leading in an AI-driven world is ultimately about leading people,” Holmes said. “The most effective leaders create clarity amid ambiguity and show that AI’s true power lies in partnership, not replacement.”

He believes Saudi Arabia’s young workforce is uniquely positioned to model that balance. “The organizations that succeed are those that anchor AI initiatives to business outcomes, invest in upskiling, and move quickly from pilots to enterprise-wide adoption,” he added.

DID YOU KNOW?

• Saudi women-led SMEs could add $50–$70 billion to GDP over five years if 10–15% evolve into growth ventures.

• AI in Saudi Arabia is seen as a catalyst for progress, unlike in many Western markets where it is often viewed as a threat.

• Saudi Arabia is adopting skills-based models, matching employees to projects rather than fixed roles, making flexibility the new currency of success.

The convergence of Tawfiq’s financial empowerment approach and Holmes’s AI leadership vision points to one central truth: the Kingdom’s greatest strategic advantage lies in human capital that can think analytically and act ethically.

“Financial literacy builds confidence and credibility,” Tawfiq said. “It transforms participants from operators into leaders.” Holmes echoes this sentiment: “Technical skills matter, but the ability to learn, unlearn, and scale impact is what defines true readiness.”

Saudi women in the transportation sector represent the expanding presence of female talent across high-impact industries under Vision 2030. (AN File)

As organizations adopt skills-based models that match employees to projects rather than fixed job titles, flexibility is becoming the new currency of success. Saudi Arabia’s workforce revolution is as much cultural as it is technological, proving that progress moves fastest when inclusion and innovation advance together.

Holmes sees this as the Kingdom’s defining opportunity. “Saudi Arabia can lead global workforce transformation by showing how technology and people thrive together,” he said.

Tawfiq applies the same principle to finance. “Financial confidence grows from dialogue,” she said. “The more women talk about money, valuations, and investment, the more they’ll see themselves as decision-makers shaping the economy.”

Together, their visions outline a future where leaders are inclusive, data-literate, and AI-confident—a model that may soon define the global standard for workforce transformation under Vision 2030.