According to a news report, Dubai has stopped work on Al Maktoum airport, which was designed to be one of the biggest Airport planned to have the capacity of more than 250 million passengers per year.
The halt on the work comes amid a decline in Gulf Economies and stagnant Tourism which has lost its steam. The Al Maktoum Airport was planned with a budget of $36 billion and aimed to consolidate the position of Emirates airline in Global Air travel.
Keeping in view the changing Macro Economic landscape, the inauguration date of the first phase of the airport has been delayed by five years to October 2030.
Dubai’s economy has slowed down and witnessed the slowest growth since 2010 this year. The prime reason of economic slow down is the impact of geopolitical tensions, low Crue oil prices and decline in Tourism.
Dubai, which was once a hub of Tourism, has been seeing slow down in tourist activities since 2017. This has directly impacted the Largest Airline “Emirates” which is now struggling to find new profitable routes and has been changing its fleet plans as it recently cancelled proposed Airbus SE A380 super-jumbo plan.