GCC Aviation Report - Marmore MENA
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Transcript of GCC Aviation Report - Marmore MENA
Research Highlights: Examining and analyzing the status of GCC Aviation Sector highlighting the demand, supply and investment trends. The report also presents growth drivers and key learning points.
Markaz Infrastructure Report 2013
GCC Aviation
Redefining the Global Game
MARKAZ INFRASTRUCTURE RESEARCH GCC Aviation -December 2012
Kuwait Financial Centre S.A.K. “Markaz” 2
Disclaimer This report has been prepared and issued by Kuwait Financial Centre S.A.K (Markaz), which is regulated by the Capital Markets Authority and the Central Bank of Kuwait. The report is owned by Markaz and is privileged and proprietary and is subject to copyrights. Sale of any copies of this report is strictly prohibited. This report cannot be quoted without the prior written consent of Markaz. . Any user after obtaining Markaz permission to use this report must clearly mention the source as “Markaz “. The report is intended to be circulated for general information only and should not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any financial instruments or to participate in any particular trading strategy in any jurisdiction. The information and statistical data herein have been obtained from sources we believe to be reliable but no representation or warranty, expressed or implied, is made that such information and data is accurate or complete, and therefore should not be relied upon as such. Opinions, estimates and projections in this report constitute the current judgment of the author as of the date of this report. They do not necessarily reflect the opinion of Markaz and are subject to change without notice. Markaz has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate, or if research on the subject company is withdrawn. This report may not consider the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors are urged to seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and to understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security’s price or value may rise or fall. Investors should be able and willing to accept a total or partial loss of their investment. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily indicative of future performance. Kuwait Financial Centre S.A.K (Markaz) may seek to do business, including investment banking deals, with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. This report may provide the addresses of, or contain hyperlinks to, websites. Except to the extent to which the report refers to website material of Markaz, Markaz has not reviewed the linked site and takes no responsibility for the content contained therein. Such address or hyperlink (including addresses or hyperlinks to Markaz’s own website material) is provided solely for your convenience and information and the content of the linked site does not in any way form part of this document. Accessing such website or following such link through this report or Markaz’s website shall be at your own risk. For further information, please contact ‘Markaz’ at P.O. Box 23444, Safat 13095, Kuwait ; Email: [email protected] ; Tel: 00965 1804800; Fax: 00965 22450647.
MARKAZ INFRASTRUCTURE RESEARCH GCC Aviation -December 2012
Kuwait Financial Centre S.A.K. “Markaz” 3
Table of Contents Executive Summary ...................................................................................................................... 7
Overview ...................................................................................................................................... 9
Airports Economics ..................................................................................................................... 11
Airports Management ................................................................................................................ 14
GCC Airports ............................................................................................................................... 16
Passenger Traffic, Cargo Volumes, and Projects Country Wise ................................................... 23
Saudi Arabia ............................................................................................................................... 25
Saudi Arabia Aviation Sector: An Introduction ..................................................................................... 25
Growth Drivers in the KSA Aviation Sector ........................................................................................... 25
Major Airlines of Saudi Arabia ............................................................................................................. 27
International Airports in Saudi Arabia .................................................................................................. 30
Major Domestic Airports in Saudi Arabia ............................................................................................. 38
Government regulators ....................................................................................................................... 45
UAE ............................................................................................................................................ 48
UAE Aviation‐ An Introduction ............................................................................................................. 48
UAE Aviation Sector: Historical Background ........................................................................................ 50
Current Economics of the Sector .......................................................................................................... 53
Demand Drivers in the UAE Aviation Sector ......................................................................................... 54
Major Airlines of UAE .......................................................................................................................... 56
Major Airports in UAE .......................................................................................................................... 58
Government regulators & Other Important Aviation Sector Organizations in UAE ............................... 70
Qatar ......................................................................................................................................... 74
Current status and trends .................................................................................................................... 74
Upcoming Projects in Qatar ................................................................................................................. 74
Kuwait ........................................................................................................................................ 75
Current status and trends .................................................................................................................... 75
High Potential for Growth .................................................................................................................... 76
Upcoming projects in Kuwait ............................................................................................................... 76
Bahrain ...................................................................................................................................... 78
Current status and trends .................................................................................................................... 78
Upcoming projects in Bahrain .............................................................................................................. 78
Defining events .................................................................................................................................... 78
MARKAZ INFRASTRUCTURE RESEARCH GCC Aviation -December 2012
Kuwait Financial Centre S.A.K. “Markaz” 4
Oman ......................................................................................................................................... 79
Current status and trends .................................................................................................................... 79
Upcoming projects in Oman ................................................................................................................. 79
Key events in Oman ............................................................................................................................. 80
Conclusion ........................................................................................................................................... 81
Key Learning Points .................................................................................................................... 82
Annexure: ................................................................................................................................... 84
Appendix .................................................................................................................................... 89
MARKAZ INFRASTRUCTURE RESEARCH GCC Aviation -December 2012
Kuwait Financial Centre S.A.K. “Markaz” 5
Tables Charts 1 Summary Forecast to 2015 1 GCC airports passenger volume. (‘000)
2 Passenger (Pax) volumes GCC countries (2002–2011) 2 GCC airports cargo volume.
3 Aircraft deliveries by region between 2010 and 2011 3 Passenger forecast of the three major GCC airlines
4 Aviation sector profitability (last 40 years) 4 Growth in Passenger traffic at JED
5 Main airports and airlines in the GCC 5 Growth in Cargo at JED
6 New aircraft deliveries up to 2028 (above 100 seats) 6 Growth in Passenger traffic at DMM
7 Low-cost carriers in GCC countries 7 Growth in Cargo at DMM
8 Passenger volume growth country wise for the period 2002–2011
8 Growth in Passenger traffic at RUH
9 Cargo volume growth by country for the period 2002–2011 9 Growth in Cargo at RUH
10 Saudia network summary: 03-Jun-2012 10 Growth in Passenger traffic at MED
11 Estimation of Passengers Flown by Saudi Airlines and NAS Airlines
11 Growth in Cargo at MED
12 Details of flights, passengers and Cargo at International Airports
12 Growth in Passenger traffic at AHB
13 Airport Expansion Projects at King Abdulaziz International Airport : Jeddah
13 Growth in Cargo at AHB
14 Airport Expansion Projects at King Khalid International Airport: Riyadh
14 Growth in Passenger traffic at GIZ
15 Airport Expansion Projects at Prince Mohammad Bin Abdulaziz International Airport: Madinah
15 Growth in Cargo at GIZ
16 Airport Expansion Projects at Abha Regional Airport 16 Growth in Passenger traffic at TUU
17 Airport Expansion Projects at Prince Nayef Bin Abdulaziz Regional Airport (ELQ)
17 Growth in Cargo at TUU
18 SWOT Analysis of KSA Aviation Sector 18 Growth in Passenger traffic at ELQ
19 Airport Expansion Projects in Dubai at execution stage 19 Growth in Cargo at ELQ
20 Airport Expansion Projects in Abu Dhabi 20 Growth in Passenger traffic at EAM
21 Airport Expansion Projects in Sharjah at execution stage 21 Growth in Cargo at EAM
22 Airport Expansion Projects in Ras Al Khaimah at Study Stage
22 Time Line for opening of various Airports
23 Airport Expansion Projects in Fujairah 23 Top 12 Busiest Airports in the world in terms of passenger traffic
24 Passenger volume growth (Qatar) for the period 2002–2011
24 Top 10 Busiest Airports in the world in terms of passenger traffic. (Jan to April 2012)
25 Passenger volume growth (Kuwait) for the period 2002–2011
25 Growth in Passenger Traffic US (ATL) and London (LHR) and DXB
26 Passenger volume growth (Bahrain) 2002–2010 26 Top 10 busiest airports in the world in terms of cargo volume
27 Passenger volume growth (Oman) for the period 2002–2011
27 Growth in Cargo Volume at DXB
28 Details of Passenger Traffic and Cargo Volume at Domestic Airports of Saudi Arabia
28 Timeline for Dubai International Airport Development
29 Details of Various Aviation Projects of Saudi Arabia 29 Growth in Passenger Traffic at AUH
30 Landing Charges - Dubai International Airport 30 Growth in Cargo Volume at AUH
31 Aircraft Parking Charges - Dubai International Airport 31 Growth in Passenger Traffic at Sharjah International Airport
32 Aerobridge occupancy charges - Dubai International Airport
32 Cargo Volume at Sharjah International Airport
33 Landing Charges - Al Maktoum International Airport 33 Air Craft Movement at Sharjah International Airport
34 Aircraft Parking Charges - Al Maktoum International Airport 34 Dubai Aviation Ownership Structure
35 Fire Coverage charge - Al Maktoum International Airport
MARKAZ INFRASTRUCTURE RESEARCH GCC Aviation -December 2012
Kuwait Financial Centre S.A.K. “Markaz” 6
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