Dubai halts mega-airport project as Gulf economies stumble

Work on Dubai’s Al Maktoum Airport, designed to be one of the world’s biggest with an annual capacity of more than 250m passengers, is on hold as Gulf Arab economies falter, people familiar with the matter said. Construction activity has been halted and finances for expansion frozen until further notice. The completion date for the first phase of the airport, envisaged as a US$36b super-hub allowing local airline Emirates to consolidate its position as the world’s No. 1 long-haul carrier, had already been pushed back 5 years to 2030 in October. Dubai Airports said it’s reviewing the long-term master plan and that “exact timelines and details of next steps are not as yet finalised.” It said it aims to ensure development takes full advantage of emerging technologies, responds to consumer trends and preferences, and optimises investment. <br/>