Through Global Participation of Companies
Major aviation companies unveil development projects in aviation sector
For immediate release
Dubai January 2019
The Global Investment in Aviation Summit, which will take place on 28-29 January 2019 at the Intercontinental Dubai Festival City, will bring together a group of major international aviation companies along with 2000 participants, investors, aircraft and service providers, operators, and high-level international dignitaries and government officials.
The Summit is an initiative of the UAE General Civil Aviation Authority and carries the theme “Linking Developed and Emerging Markets through Attractive Aviation Investment Opportunities”. It aims to explore the most prominent investment opportunities in the global aviation sector and to highlight projects related to the industry for major participating companies.
Among the aviation companies participating in the Summit are Aerion, Zunum Aero, Vinci Airports, Dubai South, in addition to start-up company, WheelTug Journey.
H.E Saif Mohammed Al Suwaidi, Director General of the General Civil Aviation Authority, said, “UAE has a good reputation in aviation sector. This big number of aviation companies joining GIAS, reflects the unique position that United Arab Emirates enjoys both on regional and international levels. UAE has been one of the first countries to meet environmental compliance and reduction of carbon emissions. Along with our priority to enable flow of investments, and the role we play to develop projects and implement regulations, we have rightfully earned our membership to the Committee on Environmental Protection in Aviation Sector in 2016.”
“The Summit is a platform that will allow participants to learn about the latest developments in the aviation industry, as well as it is an ideal opportunity to establish and strengthen strategic partnerships between companies and aircraft operators, and to exchange experiences that will enhance the investment opportunities in markets of Africa, Asia, the Middle East, and the emerging markets.”
Among the projects displayed by companies participating in the Summit, is the project launched by “Iron Supersonic” company, which aims to manufacture Supersonic business jet that will revolutionize aviation sector when it is launched in 2023. Zenum Aero, an electric aircraft hybrid with 50 seats, will be dedicated to kings and dignitaries and is expected to be launched commercially in 2020. The executive aircraft is powered by electric propulsion for a quick shuttle.
Dubai South will display its unique projects. Operating within an integrated global aviation system, Dubai South project is in cooperation with Al Maktoum International Airport, which upon completion stands to be the world’s largest airport with passenger capacity of 220 million and 16 million tons of cargo annually.
Other highlights of the Summit will be incubators’ review of aviation and sector-related projects as well as training programs and workshops for trainees who wish to know the secrets and techniques followed to achieve success in the aviation sector. The first air transport business incubators group has been established with the leading expertise of Emirates Group in collaboration with General Electric, Etisalat and Dubai Silicon Oasis Authority.
Further, Vinci Airports will present its acquisition of 50.01% of Gatwick Airport for GBP2.9 billion. Gatwick is the second largest and the most efficient airport in the UK. Pierre-Hugues Schmit, Chief Commercial Officer, Vinci Airports, will be sharing with Summit participants their vision and plans and their expertise in the strategic development and management of the airport.
Aspiring company WheelTug Journey will unveil their flagship project which is the electric taxi system. The e-taxi system includes small electric motors in the nosewheels to enable aircrafts to move forward and backward without using their engine or any external tugs.
The Global Investment in Aviation Summit will take place as the travel industry in the Middle East, one of the fastest growing markets, is growing. The International Air Transport Association (IATA) predicts that growth will continue by 4.6% until 2034. Market developments in the Middle East, as well as the convergence of global markets, will continue to create a safe haven for aviation capital investments on fixed growth rates.