DUBAI: Dubai’s state airport operator is forecasting 56 million passengers to pass through Dubai International next year, double its target for this year though still below pre-pandemic levels.
The airport, a major travel hub, has seen a rise in passenger traffic in recent weeks following the start of the peak summer travel season and an easing in travel restrictions for some core markets.
“This gives rise to a more optimistic forecast and we are looking at something like 56 million for the year to come,” Dubai Airports Chief Executive Paul Griffiths told Reuters.
The airport handled 25.9 million passengers last year and 86.4 million in 2019, the year before the pandemic struck.
The operator on Wednesday reported 10.6 million passengers passed through Dubai International in the first half of this year, down 40.9 percent on the same period last year.
Griffiths said passenger traffic in recent weeks had been “much more positive” and the airport was now expected to end the year close to its 28 million passenger target, at around 26-27 million.
He said the operator was being conservative with its forecast for this year given many countries still impose travel restrictions and that it was focused on managing costs, balancing its budget and remaining cash positive.
Dubai International is one of the world’s busiest airports and the hub for state-owned Gulf carrier Emirates. Its operations are reliant on international flights and it has no domestic market to cushion against international border closures or restrictions imposed to stop the spread of COVID-19.
The United Arab Emirates this month eased restrictions on travel from several African and Asian countries, including key market India, while Britain, another important market, has moved the Gulf Arab state from its travel “red list” to “amber.”
“There has been an absolute surge of bookings and huge numbers of people booking to go both directions to London, for example, and I think the UAE easing restrictions to places like India are steps in the right direction,” Griffiths said.
Dubai airport targets 56 million passengers next year, CEO says
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Dubai airport targets 56 million passengers next year, CEO says
- Airport handled 25.9 million passengers last year and 86.4 million in 2019
- Airport expects to end 2021 close to its 28 million passenger target
Closing Bell: Saudi Arabia’s main index closes in red at 10,364
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Sunday, shedding 185.05 points, or 1.75 percent, to end the session at 10,364.03.
Total trading turnover on the benchmark index stood at SR2.55 billion ($680 million), with 20 stocks advancing and 237 declining.
The Kingdom’s parallel market Nomu also retreated, falling 0.63 percent, or 147.19 points, to close at 23,371.82.
The MSCI Tadawul Index slipped 1.71 percent to 1,369.56.
Saudi Industrial Export Co. was the top gainer on the main market, with its share price jumping 9.87 percent to SR2.56.
Shares of Naqi Water Co. rose 2.53 percent to SR58.80, while Shatirah House Restaurant Co. advanced 2.18 percent to SR9.39.
On the downside, Gulf Union Alahlia Cooperative Insurance Co. posted the steepest decline, with its share price falling 4.61 percent to SR10.14.
On the announcements front, Scientific & Medical Equipment House Co. said it had been awarded a contract valued at SR260.98 million by the Ministry of Human Resources and Social Development to supply uncooked food materials and catering items to beneficiaries at the ministry’s residential branches across the Kingdom.
The project scope also includes providing cooked meals to selected anti-begging offices over a 24-month period, according to a Tadawul statement. The company added that the financial impact of the contract will begin in the fourth quarter of this year.
It said further developments would be disclosed in due course after all relevant parties sign the final contract and a copy is received.
Shares of Scientific & Medical Equipment House Co. edged up 0.31 percent to SR32.44.
Separately, Dr. Soliman Abdel Kader Fakeeh Hospital Co. and its subsidiaries signed an agreement with Oloof Development Co., a wholly owned subsidiary of Jazan Municipality, to lease a strategic land plot in Jazan City for SR217.99 million.
According to a Tadawul statement, the land, which spans 34,581 sq. meters, will be used to develop an integrated healthcare facility under a 50-year lease.
The company said the financial impact of the agreement is expected to begin once the medical facility is completed and becomes operational.
Shares of Dr. Soliman Abdel Kader Fakeeh Hospital Co. fell 1.92 percent to SR33.74.
