FL370
Topic Author
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Emirates's Rapid Expansion

Mon May 01, 2006 3:59 am

why is it that Emirates is always buying airplanes. where does all the money come from. i mean they order around 80 777s, maybe 100 7e7/a350. i mean thats a lot of money.
 
twolz2rn
Posts: 385
Joined: Fri Oct 21, 2005 10:03 am

Emirates's Rapid Expansion

Mon May 01, 2006 4:02 am

1. oil
2. tourism

...don't forget they bought 40 something A380's
 
Scorpio
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Joined: Thu Oct 04, 2001 3:48 am

RE: Emirates's Rapid Expansion

Mon May 01, 2006 6:25 am

Quoting TwoLz2Rn (Reply 1):
1. oil

No.
 
RichardPrice
Posts: 4474
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 6:33 am

Financing, a good business plan, and being owned by one of the wealthiest people in the world.
 
AirCop
Posts: 5553
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 6:36 am

Quoting Scorpio (Reply 2):
No.

 checkmark 

Emirates is owned by the Government of Dubai which is part of the UAE. Dubai is the regional trading center for the region, much like New York City, London, therefore its a major money center.
 
twolz2rn
Posts: 385
Joined: Fri Oct 21, 2005 10:03 am

RE: Emirates's Rapid Expansion

Mon May 01, 2006 6:59 am

oil has jump started their expansion...it won't sustain it
 
antskip
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 7:18 am

Quoting FL370 (Thread starter):
why is it that Emirates is always buying airplanes. where does all the money come from. i mean they order around 80 777s, maybe 100 7e7/a350. i mean thats a lot of money.

Your question was discussed at length on this forum only a few days ago: Emirates Airline Profit Rises 5.8% To US$674M (by Singapore_Air Apr 26 2006 in Civil Aviation).
Eha gave a link to a helpful article: Emirates Airline Profit Rises 5.8% To US$674M (by Singapore_Air Apr 26 2006 in Civil Aviation).
WK773 referred to the latest and comprehensive EK annual reports:
http://www.ekgroup.com/Annualreports/2005-2006/Default.html.
EK are buying a lot of aeroplanes to satisfy the needs of an expanding network. They can buy them because they can afford them due to the success of their existing network - a well-managed operation with a different model to most existing airlines.
 
Scorpio
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 8:14 am

Quoting TwoLz2Rn (Reply 5):
oil has jump started their expansion...

You do realise that Dubai is not exactly swimming in oil, don't you?
 
twolz2rn
Posts: 385
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 8:28 am

i've been there...oil JUMP STARTED their expansion, not funding it. With out the oil, Dubai/EK probably would not have come to what it is now...
 
nycflyer
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 9:11 am

Oil is relevant in that the greater Gulf economy is largely fueled by oil, even if Dubai per se does not have any. In a globalized world, and with Dubai as a regional financial center, oil very much matters to Dubai.

However, top three advantages that EK has over the competition.

1) Dubai forbids labor unions
2) Dubai has no, or negligible, corporate tax
3) The group (I forget the name) that owns EK also runs DXB. Therefore, this group has outlawed LCCs at DXB. LCCs are only at Sharjah.

Heck, if UA had no labor unions, no taxes, and no LCC competition on any of their routes, they'd probably be in a position to order 70 777's as well...
 
twolz2rn
Posts: 385
Joined: Fri Oct 21, 2005 10:03 am

RE: Emirates's Rapid Expansion

Mon May 01, 2006 9:27 am

Quote:
The group (I forget the name) that owns EK also runs DXB

I think it is called The Emirates Group or DNATA

[Edited 2006-05-01 02:27:53]
 
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Zkpilot
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 9:56 am

Quoting NYCFlyer (Reply 9):
However, top three advantages that EK has over the competition.

1) Dubai forbids labor unions
2) Dubai has no, or negligible, corporate tax
3) The group (I forget the name) that owns EK also runs DXB. Therefore, this group has outlawed LCCs at DXB. LCCs are only at Sharjah.

Heck, if UA had no labor unions, no taxes, and no LCC competition on any of their routes, they'd probably be in a position to order 70 777's as well...

there are successful airlines with unions.... Southwest for example....
the tax issue is the big one... makes a big difference to profits... in EK's case about US$500 million a year difference.
Not too sure about the 3rd one... Dubai has open skies, they had this when EK was just starting, nobody took EK seriously and EK basically secured landing rights in just about every country on earth thats worth anything for free for the next 20 years whilst all other airlines are paying for rights etc. Smart move, but they were started directly/indirectly by oil money.
56 types. 38 countries. 24 airlines.
 
jacobin777
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 10:04 am

Quoting NYCFlyer (Reply 9):
Heck, if UA had no labor unions, no taxes, and no LCC competition on any of their routes, they'd probably be in a position to order 70 777's as well...

but they do have open skies policy..if QF wanted to, they could can eliminate Australia and setup shop at DXB where they would have the same "advantages"......

UA has rights to LHR and to a certain extent, other cities also......

at the end of the day, EK has great services, including inflight F/A's...courteous, always helping, and a nice attitude (that doesn't cost any money)....can't say that about my trips on UA however... spin 

as a matter of fact, I've flown UA ORD-LHR/CDG a few times and then connect with EK to DXB.....given I've experienced both UA's and EK's services "back-to-back"....I couldn't say too much about UA's "friendly" service..

in fact, I can say it flat out sucked  yuck 
"Up the Irons!"
 
United Airline
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 10:08 am

Dubai has oil and it is an oil exporter. But not as much as Abu Dhabi
 
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Zkpilot
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 10:19 am

Quoting Jacobin777 (Reply 12):
but they do have open skies policy..if QF wanted to, they could can eliminate Australia and setup shop at DXB where they would have the same "advantages"......

thats incorrect.... if QF set up in DXB they would have to set it up as a DXB based airline ie have 50% owned by DXB, otherwise they would not be able to fly to other countries apart from the ones that QF already has agreements with. Open skies isn't as open as it sounds... you still have to have agreements in place at the other end. Also I doubt QF would enjoy all of the same tax breaks etc that EK does.
56 types. 38 countries. 24 airlines.
 
jacobin777
Posts: 12262
Joined: Sat Sep 11, 2004 6:29 pm

RE: Emirates's Rapid Expansion

Mon May 01, 2006 10:46 am

Quoting Zkpilot (Reply 14):
thats incorrect.... if QF set up in DXB they would have to set it up as a DXB based airline ie have 50% owned by DXB, otherwise they would not be able to fly to other countries apart from the ones that QF already has agreements with. Open skies isn't as open as it sounds... you still have to have agreements in place at the other end. Also I doubt QF would enjoy all of the same tax breaks etc that EK does.

correct, my bad, I should have put a "silly" icon next to it as that what my intention was...

here it is... Silly

but my other comments are not..they were serious...there isn't a comparison in service between UA and EK, even given the fact EK's service has gone down the past few years....
"Up the Irons!"
 
airfrnt
Posts: 2002
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 11:07 am

Quoting Scorpio (Reply 2):
No.

Yes. As much as EK apologists don't want to admit it, EK benefits from the entire huge influx of cash that the rest of the middle east (save Iraq and Isreal) benefit from. They might not get it directly (although they certainly have cheaper and easier access to Jet A then US carriers) but the vast majority of their local customers are funded by oil.

The day oil stops in the middle east is the day EK has to find a rational scale.

Quoting NYCFlyer (Reply 9):
1) Dubai forbids labor unions
2) Dubai has no, or negligible, corporate tax
3) The group (I forget the name) that owns EK also runs DXB. Therefore, this group has outlawed LCCs at DXB. LCCs are only at Sharjah.

2 is a major issue. It makes the theoreticaly kickbacks to Boeing and EADS look like penies. The government of Dubai can only do this while they are swimming in money from oil.

And yes, sooner or later the oil in the middle east will go away.
 
CXA330300
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 11:18 am

Isn't this sort of fast expansion what kills airlines? People Express comes to mind.
AC/AA/UA/DL/B6/WN/US*/CO*/FI/BA/IB/AF/SK/LX/Sabena*/TK/LY/SA/MN/SW/AM/CE*/CX/CA/MU/JL/SQ/TG/MH/KA/5J
 
jacobin777
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 11:20 am

Quoting AirFrnt (Reply 16):
Yes. As much as EK apologists don't want to admit it, EK benefits from the entire huge influx of cash that the rest of the middle east (save Iraq and Isreal) benefit from. They might not get it directly (although they certainly have cheaper and easier access to Jet A then US carriers) but the vast majority of their local customers are funded by oil.

who are these "local customers" as you put it? The United Kingdom? The United States? Germany? Ireland? Scotland? France? Nigeria? South Africa? Japan? India? Pakistan?

Every one of these places I've mentioned has seen EK up its flight from nothing to 2-3-5 dailies within a few years......that's just called "good business"....

their books are audited by Price Waterhouse and CooperS...neither them, nor other financial analysts have found any inconsistencies in their books

maybe people can't accept the fact EK has good service... no 

their fares aren't too cheap either.... its not as if EK gets some kind of advantage then passes it on to the customer........people like to fly on EK, it's as simple as that...
"Up the Irons!"
 
ekgold
Posts: 192
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 2:39 pm

Quoting AirFrnt (Reply 16):
And yes, sooner or later the oil in the middle east will go away.

Dubai maybe but the rest of the Gulf, not in our life time... Abu Dhabi alone has something in the order of 100 years proven reserves at current production...

This topic has been discussed ad nauseum and pops up every month.

Yes, they are Government owned,
No they do not receive direct Subisides or pay income tax. The again, how many airlines around the world actually pay tax at the moment given earnings... Just remember tax is an after profit calculation.
Yes Dubai has Oil and had its current economic prosperity built on the back of it,
No they dont have the huge reserves that the likes of Abu Dhabi, Saudi, Iran, Qatar (Gas), Iraq, Algeria, Nigeria has.
Yes they get the flow on benefits of the petro dollar boom and economic benefits that exist in the region. So is Etihad, Qatar Airways. Why does Richard Branson feel the need to bring a plane to Dubai? All major European carriers also have multiple flights to Dubai a day. They are also jumping on the petro dollar fuelled boom.
No they do not get free fuel in Dubai.
Yes their operating costs are similar to other major airlines, especially fuel as a percentage of costs.
Yes Dubai is a traditional trading hub of the region and its original wealth came from the pearling industry and trading,
Yes Dubai has grown on the back of that history into modern day trading . Tourism, financial and commodity exchanges being the latest in a long history of trading.
Yes Dubai has become a very attractive tourist and convention destination for 9 months of the year. the other 3 months of the summer being incredibly hot, but over the last couple of years, dubai still records incredible occupancy rates for that summer period.
Yes, Dubai sits in the middle of Europe, Asia, Africa and roughly 75% of the worlds population and probably the fastest growing area in terms of aviation growth. Look at India and China alone. Dubai can now link this entire market and soon the Americas, in most cases with a one stop service. It is almost pefectly located for intercontinental hub operations.
Yes EK have a huge order book of planes.
No, they are not all arriving tomorrow hence allowing growth in cash flows to fund the financing when they do arrive
Yes they are financing these through traditional means.
No they dont go to Sheikh Mohammed and ask him to write a cheque everytime a new aircraft is delivered.
Yes their business model works on brand new equipment, thereby slashes MX costs.
Yes they have access to a huge and cost effective labour resource
Yes they get economies of scale when negotiating large orders.
Yes, whilst under no obligation to do so as they are not a Public Entity, they publish independantly audited financial statements.
Yes their product places them in the top category of airlines around the world and is a very marketable product.
Yes they sell/market their product well.

I hope you find some answers above to your original question... There will be the usual negative sentiment as well, but ce la vie....
 
lehpron
Posts: 6846
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 3:28 pm

Quoting FL370 (Thread starter):
why is it that Emirates is always buying airplanes. where does all the money come from. i mean they order around 80 777s, maybe 100 7e7/a350. i mean thats a lot of money.

When orders are worth some dollar/euro amount, that's it. It's worth that amount, they didn't pay for it yet. I doubt they would pay all up front. Most of their orders will not even fly let alone get built for a LONG time.

Similarly, I wonder how do so many automobiles get sold every year -- it's called financing. Most people cannot drop tens of thousands just like that. I do not think an airline that orders in the billions has that much sitting around somewhere. It's earned over time and maybe the frames are paid per delivery? Someone correct me on that part.
The meaning of life is curiosity; we were put on this planet to explore opportunities.
 
satx
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 3:49 pm

Quoting Jacobin777 (Reply 18):

their books are audited by Price Waterhouse and CooperS...neither them, nor other financial analysts have found any inconsistencies in their books

That means less than many people think. I've been through audits, it's nothing but bullshit IMO. You can pass an audit with cooked books. Most companies I worked for cooked the books, both public and private. Even Enron was given a clean bill of health for Pete's sake.
Open Season on Consumer Protections is Just Around the Corner...
 
andessmf
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RE: Emirates's Rapid Expansion

Mon May 01, 2006 3:58 pm

"Dubai is distinct from other members of the UAE in that revenues from oil account for only 6% of its gross domestic product. A majority of the emirate's revenues are from the Jebel Ali Free Zone (JAFZ) [2] and now, increasingly, from tourism."

"...over 80% of Dubai�s population consists of expatriatesnon-citizens. This has led to massive importation of low-wage workers, especially from India and Pakistan."

The hidden possible problem is that Dubai is using up a lot of money and labor to diversify their economy. This brings a lot of low and high paid workers to Dubai. But what happens when these workers leave? Will the tourist then make up for the lost revenues? I think this is Dubai's gamble, and it might pay off.
 
pavlin
Posts: 391
Joined: Sun Oct 23, 2005 5:34 am

RE: Emirates's Rapid Expansion

Mon May 01, 2006 6:34 pm

Quoting AndesSMF (Reply 22):
"Dubai is distinct from other members of the UAE in that revenues from oil account for only 6% of its gross domestic product. A majority of the emirate's revenues are from the Jebel Ali Free Zone (JAFZ) [2] and now, increasingly, from tourism."

http://www.cia.gov/cia/publications/factbook/geos/ae.html#Econ
check this link

Around 46% procent export is OIL. (2.5 million barels a day) and 100BIL barels reserve.

But anyway less than half amount of budget, that is till good compared to other gulf states.
 
ZKNEA
Posts: 148
Joined: Wed Dec 14, 2005 7:07 am

RE: Emirates's Rapid Expansion

Mon May 01, 2006 6:50 pm

Quoting Zkpilot (Reply 14):
50% owned by DXB,

I doubt it would have to be own 50% by a UAE national if they set up in one of the Free Zones. (I could be wrong, but by simple definition I doubt they would have to).

Quoting EKGOLD (Reply 19):
I hope you find some answers above to your original question... There will be the usual negative sentiment as well, but ce la vie....

Well put.

Quoting AndesSMF (Reply 22):
But what happens when these workers leave?

Most wouldn't. Despite all the doom and gloom portrayed about Dubai's labour law, most of the labourers (note 'most') have it better off than back in their home countries. The amount of overstayers and people trying to enter the boarders illegally is phenomenal.
 
planetime
Posts: 612
Joined: Wed Mar 15, 2006 3:16 pm

RE: Emirates's Rapid Expansion

Mon May 01, 2006 7:08 pm

Quoting Scorpio (Reply 7):
You do realise that Dubai is not exactly swimming in oil, don't you?

Dubai last time I check is part of the UAE. For all of the people who says Dubai economy has nothing to do with oil now please give it a rest. This is from the official embassy of UAE.
http://www.uae-embassy.com/uae-economy.htm

"Proven recoverable oil reserves are currently put at 98.2 billion barrels or 9.5 per cent of the global crude oil proven reserves. " That is for a country of 2.4 million and of those 80% are migrant workers, who life and working conditions are slightly better than those they left behind. Therefore a population of 480,000 hold close to 1/10 of the world oil reserves. Now that is a lot of money no matter what anyone says. Also natural gas is very abundant in Dubai/UAE and last time I checked it is also a source of energy. They are the 3 rd largest in the region and 4th in the world.

I really find it amusing how some on a.net totally deny that oil/energy has nothing to do with Dubai and its all about tourism, well maybe tourism is part of it but please tell me that the sheikhs and rulers of Dubai have no intrest in their countries oil reserves and all. Dubai after all is a city/emirate within UAE.

Quoting NYCFlyer (Reply 9):
Oil is relevant in that the greater Gulf economy is largely fueled by oil, even if Dubai per se does not have any. In a globalized world, and with Dubai as a regional financial center, oil very much matters to Dubai.

 checkmark 

Quoting AndesSMF (Reply 22):
This has led to massive importation of low-wage workers, especially from India and Pakistan."

That is another reason why Dubai could build at such a fast rate. These workers are living in slavery like conditons in Dubai. There is no union, there is no wage laws and the sponsering sheikh has the power at any time to deport the worker at his dicretion, so these workers are at their mercy. In most industrialized countries this would have never been accepted, labour is as costly if not more than materials... not in Dubai.

All these indirectly contribute to the cash base of EK no matter what a.net's say.
 
EK156
Posts: 646
Joined: Mon May 09, 2005 8:01 pm

RE: Emirates's Rapid Expansion

Mon May 01, 2006 7:27 pm

Quoting NYCFlyer (Reply 9):
3) The group (I forget the name) that owns EK also runs DXB. Therefore, this group has outlawed LCCs at DXB. LCCs are only at Sharjah.

The only LCC that is not allowed to operate out of Dubai is Air Arabia. While alot of other LCC airlines already operate out of Dubai. Don't forget there are not much LCC in the middle East Region.
 
pavlin
Posts: 391
Joined: Sun Oct 23, 2005 5:34 am

RE: Emirates's Rapid Expansion

Mon May 01, 2006 11:28 pm

But anyway even if they get backup from oil hedging, they are still a good airline. And will stay good in the future if it doesn't collapse under her own weight.
 
airfrnt
Posts: 2002
Joined: Fri Jul 02, 2004 2:05 am

RE: Emirates's Rapid Expansion

Tue May 02, 2006 1:33 am

Quoting Jacobin777 (Reply 18):

who are these "local customers" as you put it? The United Kingdom? The United States? Germany? Ireland? Scotland? France? Nigeria? South Africa? Japan? India? Pakistan?

You know... their hub is DXB... That might mean that their local customers live around DXB.

Quoting EKGOLD (Reply 19):
No they do not receive direct Subisides or pay income tax. The again, how many airlines around the world actually pay tax at the moment given earnings... Just remember tax is an after profit calculation.

In America, companies are taxed independently. DL may not pay much in taxes corporatly (although they still do have to pay huge chuncks of the payroll taxes), everyone of their vendors in ATL and other airports do.

Quoting EKGOLD (Reply 19):
Yes they get the flow on benefits of the petro dollar boom and economic benefits that exist in the region. So is Etihad, Qatar Airways. Why does Richard Branson feel the need to bring a plane to Dubai? All major European carriers also have multiple flights to Dubai a day. They are also jumping on the petro dollar fuelled boom.

Sooner or later that petro dollar fuelled boom will bust, and inevitably there will be some form of a crash around the middle east. DXB is trying to build up other enterprises (like EK) on the back of the boom right now, and then hope they survive the crash. That's not a bad plan. I remain skeptical that they can do it. Plenty of US companies knew that a .COM crash and a telecom crash where coming and tried to shift their business away from thoose sectors. They still ended up getting nailed at the end of the day.

Quoting EKGOLD (Reply 19):
Yes, Dubai sits in the middle of Europe, Asia, Africa and roughly 75% of the worlds population and probably the fastest growing area in terms of aviation growth. Look at India and China alone. Dubai can now link this entire market and soon the Americas, in most cases with a one stop service. It is almost pefectly located for intercontinental hub operations.

Ignoring the fact that the world's air routes are fragmented, Boyd recently made the point that by the same metrics, DFW in America had a ever better catchement market then Dubai does. More importantly in terms of markets and currently established world businesses anything in Japan and America has greater access to existing businesses then Dubai does. Dubai argues that this will change, but the market seems to be indicating that the oil is running out, rather then oil markets having a long term future. If nothing else, if oil continues at it's current high prices, Venezuala will be able to develop it's crude market, US will develop the oil shale, Canada will develop the oil sands, and alternative energies will get more investment. That also is not a good thing for the middle east.

Quoting EKGOLD (Reply 19):
Yes their business model works on brand new equipment, thereby slashes MX costs.
Yes they have access to a huge and cost effective labour resource
Yes they get economies of scale when negotiating large orders.

Funny. B6 had the exact same plan... Look at how well it worked for them last quarter.

Quoting SATX (Reply 21):
That means less than many people think. I've been through audits, it's nothing but bullshit IMO. You can pass an audit with cooked books. Most companies I worked for cooked the books, both public and private. Even Enron was given a clean bill of health for Pete's sake.

Let's be fair for a moment. I don't doubt that EK has some advantages that other carriers don't have. I also don't doubt that these advantages will go away in time. But what happened at Enron was pure crookery by the CFO. The CFO was in bed with Anderson. There is a reason Anderson no longer exists.
 
zbrox
Posts: 87
Joined: Thu Jan 05, 2006 6:57 am

RE: Emirates's Rapid Expansion

Tue May 02, 2006 2:11 am

Quoting ZKNEA (Reply 24):
Around 46% procent export is OIL. (2.5 million barels a day) and 100BIL barels reserve.

But anyway less than half amount of budget, that is till good compared to other gulf states.

PLEASE read some of the previous replies.
More than 90% of all this is in the emirate of Abu Dhabi.

The distinction between the different emirates is very serious. Abu Dhabi has (and I quote Swedens ambassador to the UAE) "...the real financial muscle".
And political I might add.

Dubai and Abu Dhabi are both part of the UNITED Arab Emirates.
Dubai is trading, horse-racing, tourism, media.
Family: Maktoum. Highest position: Prime Minister
Abu Dhabi is oil, government, money.
Family: Al Mayhan. Highest position: President.

Im'm not s
Compare Dubai to California and Abu Dhabi to let's say Texas (and make Austin the capital of the USA)
Would Georgw W and his friends then give government money to "Air Hollywood"?

The UAE has ONE oil financed airline and that's Etihad. "The National Airline of the UAE" as it is.

Abu Dhabi is a lot more low-key than Dubai. And sometimes you get a feeling that Dubai's super-tourism is not all appreciated.
There is a lot of power-balancing going on between the two Emirates. But you can be sure that at the end of the day there is NO discussion as to who rules the place.
 
nycflyer
Posts: 1288
Joined: Fri Jan 14, 2005 1:23 am

RE: Emirates's Rapid Expansion

Tue May 02, 2006 2:30 am

Quoting EK156 (Reply 26):
The only LCC that is not allowed to operate out of Dubai is Air Arabia. While alot of other LCC airlines already operate out of Dubai.

What LCC's in DXB are you referring to? I didn't know there were any, so please correct me.
 
EK156
Posts: 646
Joined: Mon May 09, 2005 8:01 pm

RE: Emirates's Rapid Expansion

Tue May 02, 2006 3:07 am

Quoting NYCFlyer (Reply 30):
What LCC's in DXB are you referring to? I didn't know there were any, so please correct me.

Al Jazeera of Kuwait

Air India Express

The New LCC from Saudi Arabia called Sama will soon fly to Dubai

That is 3 that I know off!!! Also when Mena Jet is up and running again that will be four!!!
 
zbrox
Posts: 87
Joined: Thu Jan 05, 2006 6:57 am

RE: Emirates's Rapid Expansion

Tue May 02, 2006 6:55 am

Sorry. Typo in my last post, missed editing.
Abu Dhabi ruling family is named Al Nayhan. No "M".
My bad.
 
ZKNEA
Posts: 148
Joined: Wed Dec 14, 2005 7:07 am

RE: Emirates's Rapid Expansion

Tue May 02, 2006 8:13 am

Quoting Zbrox (Reply 29):
Quoting ZKNEA (Reply 24):
Around 46% procent export is OIL. (2.5 million barels a day) and 100BIL barels reserve.

But anyway less than half amount of budget, that is till good compared to other gulf states.



Quoting Zbrox (Reply 29):
PLEASE read some of the previous replies.

Likewise, PLEASE read my posts. As far as I am aware I wrote no such thing.
 
JAL
Posts: 3876
Joined: Sun Apr 30, 2000 12:37 pm

RE: Emirates's Rapid Expansion

Tue May 02, 2006 8:23 am

I'm amaze at the rate of expansion at Emirates!!!!!
Work Hard But Play Harder
 
JFK998
Posts: 100
Joined: Wed Sep 07, 2005 11:39 am

RE: Emirates's Rapid Expansion

Tue May 02, 2006 9:17 am

Quoting EK156 (Reply 31):
What LCC's in DXB are you referring to? I didn't know there were any, so please correct me.

AirBlue (Pakistan) also. Right?
 
jacobin777
Posts: 12262
Joined: Sat Sep 11, 2004 6:29 pm

RE: Emirates's Rapid Expansion

Tue May 02, 2006 10:17 am

Quoting JFK998 (Reply 35):

AirBlue (Pakistan) also. Right?

 checkmark 

As well as Aero Asia (Pakistan)
"Up the Irons!"
 
zbrox
Posts: 87
Joined: Thu Jan 05, 2006 6:57 am

RE: Emirates's Rapid Expansion

Tue May 02, 2006 1:56 pm

Quoting ZKNEA (Reply 33):
Quoting Zbrox (Reply 29):Quoting ZKNEA (Reply 24):
Around 46% procent export is OIL. (2.5 million barels a day) and 100BIL barels reserve.

But anyway less than half amount of budget, that is till good compared to other gulf states.


Quoting Zbrox (Reply 29):PLEASE read some of the previous replies.
Likewise, PLEASE read my posts. As far as I am aware I wrote no such thing.

Right. You didn't.
Pavlin did. But for some reason the quote had your name to it...
Must have clicked under instead of above post...
Sorry.
 
ZKNEA
Posts: 148
Joined: Wed Dec 14, 2005 7:07 am

RE: Emirates's Rapid Expansion

Tue May 02, 2006 6:11 pm

Quoting Zbrox (Reply 37):
Must have clicked under instead of above post...
Sorry.

Suppose I can forgive you  tongue 
 
pavlin
Posts: 391
Joined: Sun Oct 23, 2005 5:34 am

RE: Emirates's Rapid Expansion

Tue May 02, 2006 6:17 pm

Quoting Zbrox (Reply 37):

Right. You didn't.
Pavlin did. But for some reason the quote had your name to it...
Must have clicked under instead of above post...

Click on the link and read it Zbrox
 
zbrox
Posts: 87
Joined: Thu Jan 05, 2006 6:57 am

RE: Emirates's Rapid Expansion

Tue May 02, 2006 7:22 pm

Quoting Pavlin (Reply 39):

Right. You didn't.
Pavlin did. But for some reason the quote had your name to it...
Must have clicked under instead of above post...
Click on the link and read it Zbrox

I read it. It refers to the UAE. The WHOLE of UAE.

Dubai is one of seven very independent "states" in the UAE.
As have been told before more than 90% of the countries oilrevenue is from the "state" of Abu Dhabi. Who happens to have their own airline - ETIHAD.

I get the feeling that Dubais expansion is not entirely liked by all parties in the UAE. Especially not in the wealthy and more conservative Abu Dhabi. And I doubt that the families of Abu Dhabi would use their oil money to invest in EK.
But maybe some of our UAE members can fill me in on this.