VENTURE CAPITAL POST

After ruling the global aviation sector for over 40 years, the wide-body jumbo jets faces a threat of possible extinction. The Boeing 747 wide-body, long-range jumbo jet faces stiff competition from Airbus A-380. Boeing sees a drop in orders for jumbo jets while Airbus has not received an order for the double-decker A-380 after the major order it won from Emirates Airlines.

The long-haul aircraft requirement of Dubai for positioning itself as a major global hub in the Middle East (ME) Region has been mostly fulfilled by Boeing. Dubai-based Emirates Airlines is banking on Boeing 777 as its top priority and followed by Airbus A380. Emirates Airlines has emerged as the largest airline in the world operating both aircrafts. Emirates Airline has been working on its business strategy to transform Dubai into a global hub in the Region. It aims at becoming an unavoidable destination for passengers from Asia to Europe and the US. This makes the requirement of long-haul aircraft for the Emirates Airlines.

PAL announced that they are conducting preliminary talks with ANA and Emirates for possible venture