Dubai Airports rev up 16% for H1
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Dubai Airports’ commercial revenues rose 16
% on year in the first half of 2012, boosted by a surge in passenger traffic, according to the company’s top executive.
“We are ahead of the budget in terms of revenues, which are exceeding expectations,” Paul Griffiths, the chief executive at Dubai Airports declared, but declined to give further details, as reported by Zawya.
Last month passenger traffic at the international airport increased 13.7% in the first six months of the year, putting it on track to meet its annual target of 56.5 million passengers. Griffiths said Dubai International “will be running out of capacity soon and we are already seeing congestion, so moving to DWC would be an option for airliners.”
Dubai Airports has announced a US$7.8 billion airport expansion program which will boost capacity at Dubai International from 60 million to 90 million passengers per year by 2018. It raised US$1.75 billion via a six-year syndicated loan in July through Dubai Duty Free, the state-owned company that operates tax-free shops at Dubai International.
