Dubai has commenced awarding contracts for Al Maktoum International Airport, which is set to become the world’s largest airport upon completion. The airport is designed to accommodate a staggering capacity of 260 million travelers, a project approved by Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President, Prime Minister of the UAE and Ruler of Dubai.

Sheikh Ahmed bin Saeed Al Maktoum, who serves as the President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group, confirmed that work on the airport began over a year ago following the official go-ahead.

Operations at Dubai International Airport (DXB) will eventually shift to the new Al Maktoum International Airport, which has a projected cost of Dh128 billion. The transition is expected to fully absorb DXB’s operations within a decade. The operator of both airports indicated that DXB will continue to cater to over 100 million guests during this transition period.

Sheikh Ahmed emphasized the complexities involved in developing an airport of this magnitude. He noted that extensive planning is underway, involving local airlines and airport teams, to ensure a flawless opening day. He mentioned that training for staff will require approximately 12 months, as preparations for existing terminals typically take around 3-4 months. “We don’t want to see any hiccups on that day,” he remarked.

In a recent interview, Sheikh Ahmed also discussed the financial performance of Emirates Group, anticipating that the fiscal year 2024-25 will be another record year. The group reported a record profit of Dh18.7 billion last year, reflecting a 71 percent increase from the previous year. Revenue increased by 15 percent to Dh137.3 billion, driven by strong customer demand.

Additionally, Emirates Group concluded the 2023-24 fiscal year with its highest-ever cash balance of Dh47.1 billion. Sheikh Ahmed expressed satisfaction with the airline’s cash reserves and highlighted the ongoing retrofitting of 90 percent of its fleet, which includes 261 aircraft. He hinted at a potential new aircraft order during the upcoming Dubai Airshow later this year.

Regarding the current global tariff situation, Sheikh Ahmed maintained an optimistic outlook, stating that early assessments on future impacts are premature. He observed that some businesses are adjusting their shipping strategies in response to tariff issues but believes that these proactive measures are beneficial. He expressed confidence that 2025 will be a positive year for the airline industry.

Sheikh Ahmed also noted that Emirates is performing well in terms of traffic and seat capacity across its network, stating, “People want to fly,” and he has not observed any decline in passenger numbers. He acknowledged the significance of geopolitical tensions but assured that the airline industry is accustomed to reacting swiftly to such challenges.