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United Arab Emirates Aviation Industry Paper

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Economics

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Essay

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Introduction
Overview of the UAE Aviation industry
The United Arab Emirates has consistently emerged as one of the leading
emerging players in the global aviation industry. The quantum of investments in
the aviation industry of the country tantamount to a huge investment of
approximately $270 billion dollars in 2019. As of 2019, the Dubai International
Airport has been ranked as the 6
th
busiest airport in the world in terms of number
and quantum of volume of shipments handled. The sector has contributed to
approximately 15% to the country’s Gross Domestic Product. The country has
consistently improved upon its infrastructure, maintenance facilities and customers
satisfaction levels along the years.
Currently, the UAE aviation industry employs approximately 800000 jobs with a
potential to add 600000 more jobs by 2025. The sector, of late, has received
adequate support from the Government of UAE leading to more aviation
companies acquiring licenses and competing with each other to provide quality
services at affordable prices. The UAE aviation industry is dominated by
companies such as Etihad Airways, Qatar Airlines, FlyDubai and Air Arabia. With
accelerated improvements such as state-of-the-art infrastructure, huge tourist
inflow and job availability, the country has proved to be a haven for foreign
investors, among the Gulf countries. The country alone accounts for 45% of the
total air traffic in the Gulf countries. The aviation sector of UAE is also equipped
with the largest number of Boeing and Airbus aircrafts. The top 4 airline
companies in the country owns approximately a fleet of 500 aircrafts for both
domestic and international purposes.

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Establishing an aviation company in the UAE
Dubai is one of the busiest airports in the world currently and is equipped with
modern infrastructural facilities for ease of customers which led to a phenomenal
growth in the aviation industry of UAE recently.
The Civil Aviation Law of UAE is one of the primary laws which an airline
company has to comply with in order to establish its operations in the country. The
Dubai’s Company Law has been amended several times since its inception in 1984
with the sole motive of inducing foreign investment across various sectors in the
UAE. A company setting up its business operations has to mandatorily comply
with the UAE Commercial Law.
Some of the initial criteria involved in getting an airline company registered
include the following:
The prospective company must choose a specific business form and comply with
all the regulatory requirement of UAE Commercial Law.
The company is also required to provide relevant and necessary documents to the
authorities concerned (Dubai Economic Department), in accordance and in
conformation to the type and nature of business.
The company is also required to obtain relevant licenses by payment of licensing
fees and are required to comply with the terms of licensing.
In case of companies falling under Free trade zone, they are required to comply
with the terms and conditions of Federal Law No.8 on Free Trade Zones. The UAE
Ministry of Economy would be investing a huge amount of USD135 billion into
the aviation sector in order to transform and radicalize the country as a global air
transportation hub.

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Introduction Overview of the UAE Aviation industry The United Arab Emirates has consistently emerged as one of the leading emerging players in the global aviation industry. The quantum of investments in the aviation industry of the country tantamount to a huge investment of approximately $270 billion dollars in 2019. As of 2019, the Dubai International Airport has been ranked as the 6th busiest airport in the world in terms of number and quantum of volume of shipments handled. The sector has contributed to approximately 15% to the country’s Gross Domestic Product. The country has consistently improved upon its infrastructure, maintenance facilities and customers satisfaction levels along the years. Currently, the UAE aviation industry employs approximately 800000 jobs with a potential to add 600000 more jobs by 2025. The sector, of late, has received adequate support from the Government of UAE leading to more aviation companies acquiring licenses and competing with each other to provide quality services at affordable prices. The UAE aviation industry is dominated by companies such as Etihad Airways, Qatar Airlines, FlyDubai and Air Arabia. With accelerated improvements such as state-of-the-art infrastructure, huge tourist inflow and job availability, the country has proved to be a haven for foreign investors, among the Gulf countries. The country alone accounts for 45% of the total air traffic in the Gulf countries. The aviation sector of UAE is also equipped with the large ...
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