Throughout 2014, Dubai Airports was focused on key business drivers impacting corporate profitability, while enabling business expansion across both Dubai International and Al Maktoum International at Dubai World Central (DWC).
During the period under review there was a renewed focus on ensuring all commercial activity continued to enhance the overall reputation of Dubai Airports and our airports, while fostering constructive and productive business relationships with our partners and concessionaires.
Overall Dubai Airports manages 19 separate revenue categories, comprising 1,500 individual commercial and airline arrangements operating across both airports on a 24/7 basis.
A 6 per cent growth in passenger numbers, together with an evolving portfolio of commercial activities, boosted consolidated corporate revenue by 11 per cent in 2014.
Aeronautical revenue rose by 7 per cent, reflecting steady passenger growth and aviation activity at Dubai International in 2014, which ended the year as the world’s busiest airport for international passengers. This was achieved despite the airport being reduced to a single runway during the middle of the year, and a related planned reduction in capacity over the summer months.
Non-aeronautical, or commercial revenue, grew by 15 per cent in 2014, and represented 53% of corporate revenue. This result strongly supports Dubai Airports’ long-term corporate objective of reducing sole dependency on aeronautical revenue sources, or other funding, to finance our expansion – while keeping aeronautical charges among the most competitive when compared to similar global hubs.
Overall, the sustained increase in corporate revenue, together with disciplined cost management, saw Dubai Airports end 2014 in a profitable position.