Word: airports
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While most of the world's airlines have spent the past year slashing costs and trimming services, Emirates started eight new major routes in 2004 alone and now flies to 78 destinations in 55 countries. Last summer, Emirates began its first U.S. flights, to New York City's J.F.K. airport. The airline is already considering as many as nine U.S. destinations. "The U.S. is the final important piece," says Flanagan, whose airline also initiated flights to Lagos, Shanghai and Vienna last year. "Airlines are generally bad businesses. Emirates is different," says Damien Horth, an analyst at UBS in London...
...Dubai, the airline and its base at the airport--which is undergoing a $4 billion expansion--are just part of a bigger plan. They fit into the "superlative" strategy of the ruling Maktoum family. The tiny emirate on the coast of the Persian Gulf--once a significant trading hub--is now spending billions of dollars to become the world's high-end playground. And getting Emirates' brand known worldwide is part of that plan: last year the airline spent $150 million to buy the naming rights for a new 60,000-seat stadium for the popular London soccer team Arsenal...
Once upon a time, when Maurice Flanagan was working at the airport in Nairobi, wet weather meant one thing: it was time to jump into his car and drive quickly up and down the clay runway. If his wheels got stuck, he would wave off any approaching airplane. He has come a long way. Now vice chairman and group president of Dubai-based Emirates Airlines, Flanagan is in charge of the globe's 14th largest and fifth-most-profitable airline. Under his watch, the once tiny, government-owned Emirates Airlines has been transformed, growing more than 20% a year...
...While most of the world's airlines have spent the past year slashing costs and trimming services, Emirates started eight new major routes in 2004 alone and now flies to 78 destinations in 55 countries. Last summer, Emirates began its first U.S. flights, to New York City's J.F.K. airport. The airline is already considering as many as nine U.S. destinations. "The U.S. is the final important piece," says Flanagan, whose airline also initiated flights to Lagos, Shanghai and Vienna last year. "Airlines are generally bad businesses. Emirates is different," says Damien Horth, an analyst at UBS in London...
...Dubai, the airline and its base at the airport?which is undergoing a $4 billion expansion?are just part of a bigger plan. They fit into the "superlative" strategy of the ruling Maktoum family. The tiny emirate on the coast of the Persian Gulf?once a significant trading hub?is now spending billions of dollars to become the world's high-end playground. And getting Emirates' brand known worldwide is part of that plan: last year the airline spent $150 million to buy the naming rights for a new 60,000-seat stadium for the popular London soccer team Arsenal...