- 'Little Gregory' murder haunts France 40 years on
- Tariffs, tax cuts, energy: What is in Trump's economic plan?
- Amazon wants to be everything to everyone
- Jewish school in Canada hit by gunfire for second time
- With medical report Harris seeks to play health card against Trump
- China-EU EV tariff talks in Brussels end with 'major differences': Beijing
- Buried Nazi past haunts Athens on liberation anniversary
- Harris to release medical report confirming fitness for presidency: campaign
- Nobel prize a timely reminder, Hiroshima locals say
- China offers $325 bn in fiscal stimulus for ailing economy
- Small Quebec company dominates one part of NHL hockey: jerseys
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Want to film in Paris? No sexism allowed
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Little progress at key meet ahead of COP29 climate summit
- 'Party atmosphere': Skygazers treated to another aurora show
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Thunberg leads pro-Palestinian, climate protest in Milan
- Stock markets diverge before China weekend briefing
- EU questions shopping app Temu over illegal products risk
- Han Kang's books sell out in South Korea after Nobel win
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- Musk unveils robotaxi, pledges it 'before 2027'
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- On US coast, wind power foes embrace 'Save the Whales' argument
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Musk finally unveiling his long-promised robotaxi
- London's Frieze art fair goes potty for ceramics
- US, Europe stocks fall on US inflation data
- US consumer inflation eases to 2.4% in September
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- South Korea's Han Kang wins literature Nobel
- Ikea posts fall in annual sales after lowering prices
- Stock markets diverge, oil gains after China rebounds
'Bring it on': Emirates airline boss welcomes Saudi competition
The UAE's Emirates airline does not feel threatened by ambitious expansion plans in neighbouring Saudi Arabia and welcomes increased competition, its president said on Tuesday.
Saudi Arabia has announced a new national carrier, Riyadh Air, and a big new airport in the capital to handle up to 120 million travellers per year.
But Emirates president Tim Clark, who put the cost of the plans at $2.5-3 trillion, said there was a long way to go for Saudi airlines and other competitors, including Air India which ordered 470 Airbus and Boeing planes in February.
"You've now got Saudi Arabia announcing these huge plans, the likes of which nobody's really seen before," Clark told journalists at the Arabian Travel Market industry fair in Dubai.
"They made statements such that they want 100 million tourists into Saudi Arabia by 2030. But you don't need one airline, you need 10 airlines to do that," he added.
Saudia and Riyadh Air, which together announced orders for 78 Boeing 787 Dreamliners in March, will be complemented by NEOM Airlines, flying from NEOM, a $500 billion futuristic city being built from scratch, from 2024.
With annual air traffic at four billion worldwide before the pandemic, and rising by four-six percent per year, seven billion passengers could be flying every year by the 2030s, Clark said.
"Paradoxically, you'll hear me saying that the more carriers that come into play, they've got quite a good chance going forward of being profitable," he said.
But Riyadh Air and Air India also need to be served by "seamless, wonderful" airports, he added, if they are to follow the model of Dubai-based Emirates which flies out of one of the world's busiest air hubs.
"Do I see this as a threat to us? No, I don't think so. Because Emirates has spent the best part of 35, 36 years building its brand," Clark said.
"Never in my wildest dreams did I think that Emirates would have it all its own way in perpetuity... but is there room for more? Well, bring it on."
Clark would not pre-empt next week's earnings announcement but said it had been a "good year", with a seat factor or passenger load of nearly 80 percent last week.
Emirates reported record half-year profits of $1.2 billion in November as it bounced back to profit after a $1.1 billion loss in the post-pandemic 2021-2022 financial year.
The United Arab Emirates' biggest airline should regain its pre-pandemic network of destinations by summer next year, Clark said, when "20-25" Airbus A380s grounded for technical reasons are able to fly again.
Y.Tengku--CPN