Planet DMC

News and tidbits from the travel industry

Category: Bloomberg

Dubai Halts Mega-Airport Project as Gulf Economies Stumble

Dubai’s economy grew at the slowest pace since 2010 last year as the Gulf’s chief commercial center grappled with fallout from geopolitical tensions and a low oil price. Tourism has been stagnant since 2017, while Emirates remains based at the original Dubai International hub as it mulls how best to develop its strategy of carrying passengers between all corners of the globe. The company is finding it tougher to add profitable new routes, and its reworking its fleet plans with the cancellation of the Airbus SE A380 super-jumbo.Layan Odeh (Bloomberg)

Airbus Launches New Longer Range A321 Plane in Swipe at Boeing

The manufacturer gave details about the jet on the first day of the Paris Air Show, seeking to take advantage of rival Boeing Co.’s woes related to two fatal crashes and drum up orders for the long-anticipated jet. The A321 XLR could fly on transatlantic routes and has a range of 4,700 nautical miles.Benjamin Katz (Bloomberg)

Lufthansa Overtakes Air France as Europe’s Largest Airline After 14 Years

The changing hierarchy marks the culmination of mostly organic growth at Lufthansa, aided by the purchase of smaller brands Swiss, Austrian and Brussels and the expansion of discount unit Eurowings, which grew by almost one-quarter last year. Lufthansa also secured a key deal with pilots in 2017 and last year benefited from unexpectedly high demand in first class. Air France-KLM, by contrast, has suffered years of strife as workers resist overhaul plans, leading to successive management shakeups as its French state shareholder balked at sometimes violent labor unrest. The French arm was also affected by air-traffic control strikes last year, as well as the nationwide Yellow Vests anti-government protests.Tom Lavell (Bloomberg)

Erdogan Trumpets Turkey’s Clout at Gigantic New Airport Opening

The new airport, located some 20 miles outside Istanbul on the coast of the Black Sea, will cover 76.5 million square meters (29.5 miles) upon completion — a footprint larger than Manhattan. Its first three runways should be able to serve 100 million passengers annually in 2020, with a target of accommodating as many as 200 million on six runways by 2029.Benjamin Harvey (Bloomberg)

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