UAE investment in airport infrastructure hits AED 1 trillion

iStock

The UAE has so far invested AED 1 trillion into airport infrastructure developments.

That’s according to the Director-General of the General Civil Aviation Authority (GCAA), who says these investments span projects across the country and a fleet of 884 commercial aircraft.

Saif Mohammed Al Suwaidi has also stressed the need to inject more money in the sector in order to keep pace with the massive growth.

His comments came ahead of the Global Investment in Aviation Summit, which will be held in Dubai later this month.

More from Business News

  • China's ByteDance signs deal to form joint venture to operate TikTok US app

    TikTok's Chinese owner, ByteDance has said it signed binding agreements with three major investors to form a joint venture to operate TikTok's US app led by American and global investors on Thursday, in a bid to avoid a US government ban, a significant step toward ending years of uncertainty.

  • India reviewing allegations of antitrust breaches by IndiGo

    India's competition regulator said on Thursday it was reviewing allegations of antitrust violations by budget airline IndiGo following recent flight disruptions that hit air travel nationwide.

  • DXB and DWC boost winter schedules with new routes

    Dubai Airports has entered the winter travel season with one of its strongest networks in history, as Dubai International (DXB) and Dubai World Central - Al Maktoum International (DWC) welcome new airlines and expanded connectivity to meet rising seasonal travel demand.

  • Amazon in talks to invest in OpenAI

    Amazon.com Inc is in discussions to invest in OpenAI, the developer of ChatGPT, in a potential deal that could value the artificial intelligence company at over $500 billion, a source familiar with the matter said on Tuesday.

Blogs