Emirates’ Shaikh Ahmad bullish despite global economic worries

27/04/2016 05:37 AST

Emirates, the Middle East’s largest airline, sees growth opportunities in Africa, Asia and Europe over the next 12 months despite global economic concerns over a China slowdown and the United Kingdom leaving the European Union.

This month, the International Monetary Fund downgraded its forecast for global growth this year due to instability in emerging markets, concerns over China and fractured political and economic ties in Europe.

Still, Emirates sees growth in major and emerging markets. This year, the airline will add six new destinations – all in Asia - to its network.

“There is growth within Africa, Asia, China, the Indian Subcontinent [and] Europe also,” Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation, Chairman and Chief Executive of Emirates airline and Group, told Gulf News in an interview on Tuesday.

In March, Emirate started a circular route to the Philippines connecting Cebu and Clark with Dubai. In May, it will start a circular route linking Chinese cities Yinchuan and Zhengzhou with Dubai and a third route to Yangon in Myanmar and Hanoi in Vietnam from August. Emirates flew “over 50 million” passengers in the 12 months to March 31, when its financial year ended, said Shaikh Ahmad ahead of the release of the Group’s financial results in the coming weeks.

But it has been a difficult 12 months for the global travel industry with terror attacks in Paris, Brussels, Turkey, Egypt and elsewhere seeing many put off their holiday plans.

In June, the United Kingdom will vote in a referendum on whether to stay or leave the European Union with analysts saying a vote to leave the EU could increase the cost of travel to and from the country.

This could have repercussions for Emirates who is the biggest non-European airline in terms of capacity flying to the United Kingdom, according to CAPA – Centre for Aviation. Though Shaikh Ahmad does not seem concerned.

“It’s one of the destinations that a lot of passengers want to go to,” he said. By October, Emirates will be flying ten times a day to London with services to airports London Heathrow and London Gatwick.

Gulfnews