ATM 2025: Emirates expects record annual results and is IPO-ready, Sheikh Ahmed says
Emirates expects a "record" annual financial result, said Sheikh Ahmed bin Saeed, chairman and chief executive of Emirates airline and group, adding that if the Dubai government asked the company to list, then he would proceed with it.
"We are very satisfied when it comes to our cash reserves on the airline side," he said at a press conference on Monday on the sidelines of the Arabian Travel Market in Dubai.
"If they [the Dubai government] say do it [an initial public offering] tomorrow, I have to do it."
The airline is currently in the process of retrofitting about 90 per cent of its total fleet and has more than 300 aircraft on its orderbook.
"We're also thinking about the Dubai Airshow and maybe there will be some new announcement," Sheikh Ahmed said, declining to specify the size of a potential plane order or the aircraft models.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
3 hours ago
- Zawya
Middle East tourism spend to jump 50% to $350bln by 2030
The total tourism spend in the Middle East by 2030 will be 50% higher than in 2024, generating expenditure of nearly $350 billion, according to A new report compiled by Tourism Economics on behalf of Arabian Travel Market (ATM). The ATM Travel Trends Report 2025 reveals insights into the trends and transformations redefining the travel sector in the Middle East and worldwide, including the surge of business travel, the growth of the luxury segment, and the boom in regional sports tourism. The report highlights exceptional growth in Middle East travel spending, projected to exceed 2019 levels by 54% this year and anticipates an annual growth rate of over 7% from 2025 to 2030. Danielle Curtis, Exhibition Director ME, Arabian Travel Market, said: 'The report's findings confirm that travel growth in the Middle East is incredibly strong, with annual growth averaging more than 7 per cent through 2030. Bold national visions, game-changing developments, and enhanced connectivity are some of the key factors driving this momentum.' Underscoring the Middle East's strong position in global tourism, inbound travel from outside the region is set to grow by 13 per cent annually up to 2030 and outbound business travel forecast to surge at 9 per cent per year. European source markets make up 50% of all leisure travel to the Middle East, with India and the United Kingdom the top two inbound international leisure source markets. China is also a critical market, ranking third by value with leisure spend expected to increase by 130% by 2030. Furthermore, tourism nights by visitors from Asia Pacific and Africa, are expected to increase by over 100% between now and 2030. For outbound travel, Saudi Arabia and Egypt dominate regional flows, while Thailand and the United Kingdom lead as preferred long-haul destinations. The four largest airlines in the region – Emirates, Etihad Airways, Qatar Airways and Saudia – have placed nearly 780 aircraft orders with Boeing and Airbus, representing major expansions to their existing fleets. This significant investment underscores the region's strategic focus on becoming a global aviation hub and meeting rising passenger demand over the coming decade. The Middle East's rise as a global hub for business events is another key highlight of the report, which states that spending on Middle East business travel will grow 1.5 times faster than the global average through to 2030. The region's strategic location at the centre of Asia, Africa, and Europe supports business and leisure travel, with the latter on a particularly strong trajectory for growth. The sector plays a vital role in developing the region's reputation for hosting major events. It is expected to experience the second-fastest rate of business travel growth among all global regions, underscoring the increased potential for combining business and leisure travel, or 'bleisure'. Curtis commented: 'At ATM 2025, we recognised the industry's hunger for innovation in travel technology as well as the rising demand for business travel across the region. In response, we launched two dynamic new zones, IBTM@ATM and the Innovation Zone, designed to empower our growing audience to shape the future of travel with the speed and scale our exciting industry demands.' The region is also witnessing unprecedented growth in luxury and lifestyle tourism, attracting a new generation of high-net-worth travellers, drawn to exceptional Middle East hospitality, curated experiences and premium cultural events. According to the report global spending on luxury leisure hospitality is expected to continue growing briskly reaching over US$390 billion by 2028. 'Travellers drawn to the Middle East tend to spend more on travel overall, nearly 60% habitually spending on luxury experiences while travelling compared to under 40% among travellers who favour other destinations,' added Curtis. Of the more than 170 luxury hotel properties in the Middle East, nearly 100 are situated Abu Dhabi and Dubai, with 22 currently in development. With several luxury properties in the pipeline among Saudi Arabia's Giga projects, the region will continue to serve as a preferred destination for luxury and leisure travellers. Following in the footsteps of the Qatar 2022 World Cup and Dubai Expo 2020, the Middle East region has a proven track record for successfully hosting high-profile entertainment and sports events. According to the ATM Travel Trends report, the strong appetite for sports tourism in the region will lead to a potential growth rate of 63% in the coming years, with the 2034 FIFA World Cup in Saudi Arabia set to continue this momentum. According to the report, golf, motorsports, football, cycling, and esports are all benefiting from heightened visibility and investment in the region. This surge in sporting and entertainment events is significantly boosting the travel industry, driving increased demand for hotel stays, flights, and related services, creating a ripple effect that supports broader tourism growth. ATM is the leading international travel and tourism event held annually in Dubai. It plays a vital role in shaping the future of global travel. Held at the Dubai World Trade Centre, the 2025 edition welcomed over 55,000 industry professionals from 166 countries, achieving year-on-year growth of 16%. The next edition will take place from May 4-7, 2026. - Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arabian Business
5 hours ago
- Arabian Business
Middle East tourism spend to hit $350bn by 2030 amid luxury, sports, and business travel boom
Middle East tourism spending is projected to surge by 50 per cent to reach $350bn by 2030, according to the new ATM Travel Trends Report 2025, compiled by Tourism Economics for Arabian Travel Market (ATM). The report highlights the region's exceptional post-pandemic rebound and long-term growth potential, driven by luxury travel, business events, and sports tourism. Spending on tourism across the Middle East is already on track to exceed pre-pandemic levels by 54 per cent this year. Middle East tourism spending From 2025 to 2030, the market is expected to grow at more than 7 per cent annually. Danielle Curtis, Exhibition Director ME, Arabian Travel Market, said: 'The report's findings confirm that travel growth in the Middle East is incredibly strong, with annual growth averaging more than 7 per cent through 2030. 'Bold national visions, game-changing developments, and enhanced connectivity are some of the key factors driving this momentum.' Key insights from the report include: Inbound travel to the Middle East is set to grow 13 per cent annually, with India, the UK, and China among the top source markets Chinese leisure spending alone is forecast to grow 130 per cent by 2030 Tourism nights from Asia Pacific and Africa will more than double Business travel in the region is expected to grow 1.5 times faster than the global average, positioning the Middle East as a top global 'bleisure' hub Luxury travel is booming, with nearly 60 per cent of visitors choosing premium experiences. Over 170 luxury hotels already operate in the region, with dozens more in development in the UAE and Saudi Arabia Sports tourism is forecast to grow 63 per cent, fuelled by major events such as the 2034 FIFA World Cup in Saudi Arabia and a surge in interest in motorsports, golf, cycling, and esports Airlines are scaling up rapidly to meet demand: Emirates, Etihad, Qatar Airways, and Saudia have placed nearly 780 new aircraft orders with Boeing and Airbus, solidifying the region's role as a global aviation hub As the Middle East continues to attract high-spending tourists and host world-class events, it is cementing its position as one of the fastest-growing and most dynamic tourism regions on the planet.
Zawya
7 hours ago
- Zawya
ADAFSA closes Bin Khalifa Cafeteria in Abu Dhabi for violating safety requirements
Abu Dhabi: The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has issued a decision to administratively close Bin Khalifa Cafeteria facility in Abu Dhabi , which holds the trade license (CN-1049262), for violating Law No. (2) of 2008 regarding food in the Emirate of Abu Dhabi and the legislation issued thereunder, as well as for its danger to public health. ADAFSA explained that the food control report stated that the administrative closure decision against the facility came as a result of repeated food safety violations and the failure to apply effective corrective measures, which necessitated immediate action to ensure food safety and the health of consumers. The authority confirmed that the administrative closure order will continue against the facility until the reasons for the violations disappear, with the possibility of resuming the activity after correcting the conditions of the facility in full and adhering to all food safety requirements. ADAFSA pointed out that the administrative closure and the detection of violations comes as part of the Authority's plan to strengthen the food safety system in Abu Dhabi and subject all food establishments to periodic inspection to ensure their compliance with the requirements, with a focus on proactive protection for consumers and ensuring that all establishments comply with food safety requirements. ADAFSA appealed to the public to communicate with it, and to report any violations detected in any food establishment or when the safety of the food item is doubted by calling the toll-free number of the Government of Abu Dhabi 800555 so that the Authority's inspectors take the necessary action to reach safe and safe food for all members of society in the Emirate of Abu Dhabi.
