Aviation set to take off in ’20

dubai — The global aviation sector is expected to pick up next year amid hopes that the trade war between the US and China will be resolved that will benefit the global economy, said Tim Clark, president of Emirates airline.

Speaking at an aviation conference in Dubai on Monday, Clark warned that airfares could surge as a result of the tit-for-tat tariff war between the US and Europe on import of aircraft.

“Global consumer confidence is falling and we are in a state of disequilibrium. It can be salvaged. With the US presidential elections next year, we may see the two economies — US and China — start activating in the first quarter of the year. In my view, by this time next year, the trade war will be history and the global economy will be moving,” Clark said.

He, however, warned that as a result of the hike in tariffs by US President Donald Trump, Europe will reciprocate next year.

“If Europe hikes the import tariffs, the prices of aircraft are likely to rise and the cost of travel.”

The US said it would impose a 10 per cent tax on European jetliners following a World Trade Organisation ruling that Airbus benefited from illegal state aid.

Aviation sector has already been contributing significantly to the UAE economy. The International Air Transport Association (Iata) last week noted that the aviation industry may generate an additional 620,000 jobs and an extra $80 billion to the UAE’s GDP by 2037.

In my view, by this time next year, the trade war will be history and global economy will be moving Tim Clark, President of Emirates airline

Summer has been good and fuel prices are also fairly-priced, hence, all going is good for the year Adel Ali, Group CEO of Air Arabia