Dubai Airshow marks industry 'turning point' with deals worth $78bn

The Dubai Airshow raked in $78 billion in secured or announced commercial and military deals during the five-day event last week, the first major aerospace exhibition in two years.

Among the most significant deals, Airbus received orders and commitments for 408 aircraft, comprising 269 firm orders and 139 provisional orders, covering the range of its commercial aircraft families, including a first commitment for the new A350 freighter version.

The manufacturer, based in Toulouse, France, bagged a major order for narrow-body jets from private equity company Indigo Partners. The group's airlines placed a firm order for 255 A321 Neo family aircraft, valued at $32 billion at 2018 list prices, although customer discounts are customary.

“Low-cost airlines looking to capitalise on a leisure-led travel recovery showed a healthy appetite for new aircraft at the Dubai Airshow, and the Airbus A321 garnered the most orders as airlines focus on driving down costs per seat,” a report by Bloomberg Intelligence said. “Demand for wide-body planes suffered due to an uneven return to long-haul flying.”

Global aircraft manufacturers secured deals, touted new freighters, reconnected with customers and expressed optimism about the future at the Dubai Airshow, which ended on November 18 amid signs of recovery from the Covid-19 pandemic that hammered the aviation industry last year.

More than 104,000 attendees flocked to the biennial event, which recorded a 50 per cent increase in trade visitors compared with the previous edition in 2019, according to Dubai Airshow 2021 organiser Tarsus Middle East.

“The event has been a real testament to the resilience, robustness and adaptability of the aviation and aerospace industries to come back with such strength after the pandemic,” said Timothy Hawes, managing director at Tarsus Middle East. “There have also been greater commitments towards sustainability and decarbonisation, which is of critical importance across the globe.”

Some 387 civil and military delegations attended the event, with 148 countries represented, according to the organiser. And 371 new exhibitors showcased their products at this year's expo, along with more than 80 start-ups.

About 175 aircraft were on display at the runway, including a number of international debuts such as Boeing's 777X wide-body jet.

The next edition of the Dubai Airshow will take place in 2023 at the Dubai World Central (DWC) — Al Maktoum International Airport.

Etihad Airways owned Boeing 787 and Airbus A350 parked alongside at the Dubai Airshow 2021. All photos: Etihad Airways
The UAE airline ramped up its sustainability efforts at the Dubai Airshow, with cross-organisational initiatives and high-level industry partnerships.
The first of Etihad’s A350s was unveiled at the Dubai Airshow this week.
Etihad’s collaborations with partners such as Boeing, GE, Airbus and Rolls Royce are geared towards its objectives to reach net zero emissions by 2050.
Etihad is calling its first A350 as the 'Sustainability50', in reference to the UAE's Golden Jubilee and the net-zero target year of 2050.
The airline’s sustainability initiatives have so far centred on the airline’s fleet of GEnx-powered Boeing 787s, as part of the Greenliner Programme.
Etihad aircraft on display at the Dubai Airshow this week.
The new UAE50 livery to mark the Golden Jubilee.

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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks.

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.

8. Pillar 2 implementation

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

RESULTS

6.30pm: Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m
Winner: Brraq, Adrie de Vries (jockey), Jean-Claude Pecout (trainer)

7.05pm: Handicap (TB) Dh102,500 (D) 1,200m
Winner: Taamol, Connor Beasley, Ali Rashid Al Raihe.

7.40pm: Handicap (TB) Dh105,000 (Turf) 1,800m
Winner: Eqtiraan, Connor Beasley, Ali Rashid Al Raihe.

8.15pm: UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
Winner: Soft Whisper, Pat Cosgrave, Saeed bin Suroor.

9.50pm: Handicap (TB) Dh105,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer.

9.25pm: Handicap (TB) Dh95,000 (T) 1,000m
Winner: Etisalat, Sando Paiva, Ali Rashid Al Raihe

The%20specs%20

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