Emirates airline is to invest up to $12 billion in its future home at the new terminal at Al Maktoum International Airport (DWC).
The airline will spend billions on infrastructure, including catering facilities and aircraft hangars, Sheikh Ahmed bin Saeed, chairman and chief executive of Emirates Airline and Group, said at a media event on Tuesday at Dubai Airshow.
The $35 billion airport terminal at DWC is under construction and the first phase is expected to be finished by 2032 with a capacity to handle 150 million passengers a year. Once fully completed, the airport is set to reach a capacity of 260 million annual passengers.
Dubai International Airport, Emirates airline's current home base, is expected to handle 95.3 million passengers by the end of this year and reach the 100 million mark in the next 18 months, Paul Griffiths, chief executive of Dubai Airports, said in October.
Sheikh Ahmed's comments came after UK Export Finance (UKEF) on Tuesday issued an expression of interest for up to $3.5 billion in funding for the expansion of DWC.
UKEF is a government department and the nation’s export credit agency, which partners with private sector finance providers to grow UK exports and international trade.
The announcement, made during a ceremony at Dubai Airshow, marks the first international expression of interest in the mega-project.
Commenting on how the $3.5 billion funding from the UK government will be used, Sheikh Ahmed said: “When we talk about Al Maktoum International, it’s much more than that."
"So that [today’s announcement] will be a drop in the ocean, but it is welcome to see such governments to be really pushing for their company to be there and to be part of Dubai’s success."
The UAE and UK have a long-standing trade and economic partnership.
"Al Maktoum International Airport is set to redefine the future of global aviation, creating significant opportunities for British suppliers to showcase their cutting-edge capabilities," Chris Bryant, UK minister of trade, said in a statement.
The project is being delivered through a structured programme that entails "advanced engineering, resilient design and long-term planning", Khalifa Al Zaffin, executive chairman of Dubai Aviation City Corporation said.
