Dubai airport’s November passenger traffic falls

Dubai airport needs a record 8.9 million passengers in December to meet its previously stated full-year target of 90.3 million. (AFP)
Updated 06 January 2019

Dubai airport’s November passenger traffic falls

  • The number of passengers using the airport fell 0.8 percent to 6.9 million in November
  • Dubai airport, the hub for airlines Emirates and flydubai, has seen the rate of passenger traffic growth slow this year after 15 years of strong increases

DUBAI: Dubai International Airport's monthly passenger numbers dropped in November, leaving the world's busiest airport for international travelers needing a record month to meet its full-year target.
The number of passengers using the airport fell 0.8 percent to 6.9 million in November, said operator Dubai Airports on Sunday.
For the first 11 months of the year, 81.4 million passengers have used the airport, up 1.3 percent.
That means the airport needs a record 8.9 million passengers in December to meet its previously stated full-year target of 90.3 million.
The highest number of passengers to travel through Dubai airport in a single month was 8.37 million in August 2018.
Dubai airport, the hub for airlines Emirates and flydubai, has seen the rate of passenger traffic growth slow this year after 15 years of strong increases.
Cargo handled in November increased 0.6 percent to 237,059 tons, said Dubai Airports.


Oil falls below $57 on virus impact and OPEC+ delay

Updated 19 February 2020

Oil falls below $57 on virus impact and OPEC+ delay

  • Contagion ‘is spooking market players,’ analysts say after Asian shares fall and Apple issues warning

LONDON: Oil fell below $57 a barrel on Tuesday, pressured by concerns over the impact on crude demand from the coronavirus outbreak in China and a lack of further action by OPEC and its allies to support the market.

Forecasters including the International Energy Agency (IEA) have cut 2020 oil demand estimates because of the virus. Though new cases in mainland China have dipped, global experts say it is too early to judge if the outbreak is being contained.

Brent crude was down 82 cents at $56.85 a barrel in mid-afternoon trade after rallying in the previous five sessions. US West Texas Intermediate crude fell 70 cents to $51.35.

“Risk aversion has returned to the markets,” said Commerzbank analyst Carsten Fritsch.

“OPEC+ has shown no sign yet of reacting to the virus-related slump in demand by making additional production cuts.”

The virus is having a wider impact on companies and financial markets. Asian shares fell and Wall Street was poised to retreat on Tuesday after Apple said it would miss quarterly revenue guidance owing to weakened demand in China.

“This has spooked market players and triggered a sharp pullback in risk assets,” said Tamas Varga of oil broker PVM.

The IEA last week said that first-quarter oil demand is likely to fall by 435,000 barrels per day (bpd) from the same period last year in the first quarterly decline since the financial crisis in 2009.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, have been considering further production cuts to tighten supply and support prices.

The group, known as OPEC+, has a pact to cut oil output by 1.7 million bpd until the end of March.

The next OPEC+ meeting next month is set to consider an advisory panel’s recommendation to cut supply by a further 600,000 bpd. Talks on holding an earlier meeting in February appear to have made no progress, OPEC sources said.

As well as OPEC+ voluntary curbs, support for prices has come from involuntary losses in Libya, where output has collapsed since Jan. 18 because of a blockade of ports and oilfields.