Dubai Airports CEO to Announce 2013 Budget Plan in September

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By Zainab Fattah  www.businessweek.com

Dubai Airports said it will unveil its budget for 2013 next month as it expands capacity to meet demand from Emirates, the world’s largest international airline.

“We are finalizing our 2013 finances, and we expect it to be announced by the second week of September,” Chief Executive Officer Paul Griffiths told reporters last night.

The budget, which will be determined with Dubai’s Department of Finance, isn’t directly related to the expansion plans, and all options for raising those funds remain open, he added.

Dubai International Airport’s third concourse should be finished in the first quarter of next year, Griffiths said. The facility will be used exclusively by Airbus SAS A380 superjumbos and is part of a $7.8 billion plan aimed at lifting the hub’s capacity 50 percent to 90 million passengers a year by 2018.

Work has also begun on a fourth concourse, which will be built next to the existing Terminal 1 by 2015, after the construction contract was awarded to Abu Dhabi-based ALEC. More info

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