"Ten Minutes into the Future of Aviation" with HH Sheikh Ahmed bin Saeed al-Maktoum

I think if we look at some of the challenges, always we see that the sector of reaching bilateral with other countries — some you will find easy, they look at the model and what we have achieved and they want to follow. And maybe some country, they see it is challenging because it would replace them or other will take their place. I think we have to see that the model of open sky policy was really the plus, but when you talk to any country, they should really see this model is really working because we are a small population base today. I mean if we talk about the UAE or Dubai and when we see an airport like in Dubai with a population of 6 million, 8 million or 10 million and we really see 90 million passengers come to this airport, you know that you should really ask yourself, why shouldn't we be like them? And there are countries with much bigger population bases but we see the number that their airports can handle is much smaller. Of course that is not easy and simple because also you have to invest in the infrastructure and the people.

Also I think one element that we should not really forget always is what our cost base is. Cost is a very important factor regardless of what you are doing and how successful you are. You have always to look at your cost because there is always somebody else who will come and try to give that service as good as you for much less cost. And those airlines who will be successful — what we see the industry is facing today — even fuel price is always a big factor in the aviation industry. And also you think about currency, currency is also a major factor in the profitability of the airline. So fuel and currency — I think the political situation not only around us but globally, you would see if people talk about geopolitical problems, you see that today a route is going or doing so well, maybe the next day you will not see that route because something happened within that country and you have to stop it. So you always have really to diversify your business. Diversification not meaning that you jump into different types of business — I think the focus on the business that you know better is the best thing — but you shouldn't only be flying to one continent.

Still, runway will be the runway or we will see maybe another model which we are talking about. Yes, it could be the Hyperloop, airplane going out of space to reach another point with much less time. Even they say one day flying from Dubai to Australia maybe it will take you five minutes instead of 14 hours to Sydney. That would happen — yes, it will happen, I'm sure, one day. I don't know in 20 years, 30 years, 50 years, but it will happen. If we look at the model plane they took from London to here, maybe it almost took you over a day or two to reach here. Now you are within seven hours between Dubai and London in the supersonic flight, which had been stopped — the Concorde — at that time it was three and a half hours. And even at that time it could be much less, but there was a restriction flying overland. So I think we have to be really open that this will change in the future.

I remember when the 747 came, everybody said people will not need now to come to a technical stop in the Gulf area. They said everybody will be flying direct from London to Australia without passing through here. But actually we did create a reason for people, and I think this is the main reason — you have really to make sure that you create something that people want to stop here. And we have always to think what would be the next reason for more people to come here.

You have to expand because with more people you need more facilities. But also things are done a bit differently today — it's not only about big space. How would you be able to process people faster? And I think using technology and the model that we use today in the UAE, with His Highness' leadership, we are pushing technology and that technology really will help to process more people coming through — in or out or in transit. And I think that's really the model. So the focus on technology I think will also save a lot of cost in the future. But I think always we have to think — processing people much faster will always be the way. I think with the new aircraft, the new engines burning less fuel — all of that has helped. When people think about the new technology, talking about media videos — why you go to London or America, you can always see me and you talking about things without seeing it — it's real time, we can talk. But it's different when you sit with somebody, having a coffee, shaking hands — it's a different feeling. We, at the end of the day, are human beings and we need that touch. That element will always be there regardless of what technology can do.

I think in any sector of business, nobody — you won't be able to do it yourself. You need the help of others. As long as they are working together, there is no feeling of 'me, I did it.' You need everybody to work — you need the security people, you need customs, you need immigration, you need the tourism boards or ministries also to be there. Even your foreign office, allowing people to come. And I think this is one of the good reasons that we see more and more people today coming to the UAE — the achievement of bilateral agreements between the UAE and other countries. Seeing today more than 170 countries that would be allowed to come to the UAE, that's a big push. In the end of the day, we have our own lab here. We look at our industry, what the others are doing, and we try to learn from each other. And what we always think today — we know what we want tomorrow — but I think we'll always have shortfalls. Tomorrow will be a different day. We will learn that people will need something more and more and more, and it is really happening in a much faster pace today than ever before. And I think what we'll see in the next five or ten years is beyond our expectation, so we have to be ready. That will always be the case. We'll be spending more and more money on R&D here and also cooperating with others in the industry — not necessarily only in the aviation sector. When we talk about who we are collaborating with — if it is universities, car manufacturers, schools — I think even we have to start with the very young ones. I think the Emiratization program is really working well, the Ministry side engaging with every industry, and we have always to do more and more, especially in the education sector. And this is why the government of the UAE is really spending more and more money every year, specifically in education. I think our Minister of Youth is one of the youngest ministers in the world. She is doing a really great job, bringing all the talents together, working in every sector of business. When we are talking, we are talking about all the industries together.

It was really a big achievement and a success because what we tried to do here is something that serves over a billion and a half people — close to two billion people. It's not only about Dubai but it's good for the Middle East, the Gulf region, the Indian subcontinent. And Expo 2020 — which should she had something like 25 million visitors here — really bringing all those future brains to Dubai, to really exhibit in their own pavilion, share experience with the people of Dubai and with the world, in one place. From day one actually, when we planned to have the Expo, we always thought what will be after the Expo. Because the last thing you want to see is that you spend all this money — which we did spend a lot of money on the infrastructure. And His Highness Sheikh Ahmed really insisted that after the Expo, what we should be doing about the site. And this is why we have a legacy — that this site will continue after the Expo. We will see many companies really be there and we will use this place. It's next to our big airport where Al Maktoum will land. It's next to the free zone area, to the big port in Jebel Ali. The city itself is actually also moving toward the south. And this is why we see the metro is really connected to the site itself. So I think we have a very successful model after the Expo. People will not really think that you spent all this money and it is an empty place that will be demolished or kept locked. And I think it's not far away now — when we look at next year or the end of next year, the Expo is...