Dubai's DXB to reopen terminal as passenger numbers set to rise

London (Quantum Commodity Intelligence) –Dubai Airports announced that it will reopen Dubai's International's Terminal One and Concourse D on June 24, with passenger numbers set to rise in the second half of the year. 

"This move signals our confidence that the outlook for the rest of the year and beyond is one of optimism, as well as being a clear indication of Dubai's intent to lead the aviation industry in its efforts to enable social and economic recovery of the world," said Sheikh Ahmed Bin Saeed Al Maktoum, chairman of Dubai Airports.

The facilities were closed on March 25, 2020 following the partial suspension of operations at DXB as part of the strategy to control the spread of Covid-19.

Prior to the pandemic, Dubai was the fourth busiest airport in the world with over 86 million passengers per year, after Atlanta, Beijing and Los Angeles.

But Dubai is a major global transit point and seen as a bellwether of international travel. 

Dubai will host the delayed EXPO 2020 from October of this year, which organisers have said could attract 11 million foreign visitors.

The UAE has rolled out one of the world's most effective vaccine programs in preparation for the reopening of international tourism and business.

Last week Dubai's Emirates Group, the owner of the airline Emirates, said it had a "solid cash balance of $5.4 billion" to take advantage of the recovery in the aviation market.

Air passenger numbers are rising in every region for the first time, according to industry analysts OAG, led by south Asia as India recovers from its second wave of COVID-19 with daily infections just 15% of peak levels.

US bank Goldman Sachs sees August global jet fuel demand at 5 million barrels per day, up from 3.9m bpd in May.

However, jet cracks in Asia remain sluggish, falling $0.60/b FOB Singapore to $2.71/b on the week ending June 18, according to Quantum data.