Published Sun, Nov 17 20191:38 AM ESTUpdated Sun, Nov 17 20193:38 AM EST Natasha Turak@NatashaTurak
We expect a big expansion in trade from China: Dubai Airports CEO from CNBC.
DUBAI — Dubai Airports CEO Paul Griffiths isn’t worried about the growth in the Chinese economy — yet. The chief of the United Arab Emirates government-owned airport operator is still seeing positive trajectory in Chinese air travel to and from the major hub of Dubai, he told CNBC at the Dubai Airshow on Sunday.
Asked by CNBC’s Hadley Gamble about slowing traffic from China, Griffiths replied, “I’m not sure that’s the case.”
“We’re still seeing very positive growth on the Chinese routes, so much so that we’ve now introduced specific features throughout the airports — hot water dispensers, Mandarin menus at some of the restaurants, the ability to use Chinese payment services throughout the airport. So we are getting ready for a big expansion in trade from China. And I think as with a lot of markets in the past, we’ve been able to demonstrate we can buck the overall trends and still see growth where the others are not experiencing the same level of growth.”
China’s gross domestic product (GDP) growth was hit by a slowdown to 6% in the third quarter of this year from 6.2% in the previous quarter, its lowest in three decades. Growth trajectory remains highly uncertain as the trade war between China and the U.S. stretches into its 16th month, with high-stakes negotiations underway.
Dubai International Airport (DXB) posted a 2.4% decline in passenger traffic for this year’s third quarter, handling 23.2 million passengers between July and the end of September.
The first nine months of 2019 saw 4.5% fewer passengers than the same time period a year ago at 64.5 million. Griffiths attributed the declines to a 45-day long closure of a runway at DXB in the spring, and the grounding of the Boeing 737 MAX jet since March, the liquidation of major Indian carrier Jet Airways in April, which he said caused a “hiatus in Indian traffic.”
DXB is the world’s busiest airport for international travelers, CNBC reported last year, handling 89.1 million passengers in 2018.
source : https://www.cnbc.com/2019/11/17/dubai-airshow-we-expect-a-big-expansion-in-trade-from-china-ceo-says.html