“Sheikh Ahmed” (50) is the Chairman of Emirates Group, which consists of the following units: Emirates Airlines, Dnata Airport Operations, Emirates SkyCargo, Transguard (transportation of valuables-unit) and Emirates Hotels and Resorts.

Sheikh Ahmed is the uncle of the 10th rule of Dubai, His Highness Sheikh Ahmed Bin Saeed Al Maktoum, and key in transforming Dubai into a global hub between East Asia and Europe.

The record aircraft order at the 2007 Dubai Air Show It was Sheikh Ahmed who bought, in the name of Emirates Airlines, a total of 58 Airbus A380 aircraft,

The conglomerate’s consistent expansive strategy, at a time when many European and North American carriers downsized their fleets or even went bankrupt, proved to be right.

On 30th April 2008, Sheikh Ahmed announced that the Emirates Group had achieved its 20th consecutive net profit of US$ 1.45 billion (an increase of 54.1 percent) for the year 2007/2008, which ended on March 31st 2008. The airline’s profit has since increased by 62.1 percent to US$ 1.37 billion.

At the annual media conference, Sheikh Ahmed stressed that “our pride is not only based on the profit development but rather on our contribution to Dubai’s economy - an estimated US$ 47 billion.” The Chairman, who got married in June, added: “Emirates is fortunate to be located in Dubai at the centre of the new Silk Road between East and West.” Emirates cabin crews around the world welcomed a total of 21.2 million passengers aboard during the last financial year.

For the global business traveller, the Skywards Card - with which he or she can collect air miles with Emirates - became a standard wallet item. The international carrier of the UAE currently employs some 35,000 people from 145 nations.

When the old Swissair grounded on 2nd October 2001, many of its pilots found new jobs at Emirates. Other Gulf airlines benefited from job cuts in Western countries as well.

Etihad Airways from Abu Dhabi and low-cost carriers Air Arabia (Sharjah) and Jazeera Airways from Kuwait (the only budget airline operating in Dubai) are all competing with Emirates Airlines. The success of the two latter carriers triggered Sheikh Ahmed’s decision to launch a low cost carrier of his own, named FlyDubai, which is expected to take off in early 2009.

Dubai Duty Free

The Emirates is also fortunate to have a new Terminal 3 at Dubai International Airport, scheduled to open in October 2008.

Business and First class passengers can enjoy a decent stay at the 18 executive lounges globally. In Dubai, families are also invited to spend some quality time in the Marhaba Lounge (“marhaba” is the classic Arab way of saying “good day”). “Passenger traffic at Dubai Airport is growing at 18 percent a year and showing no sings of slowing down”, says Executive Vice Chairman Maurice Flanagan CBE.

However, Chairman Sheikh Ahmed confirmed that there had been a slowdown in the

Business class segment due to record high oil prices. Asked if rumours were true that it is subsidized with cheap fuel, the Emirati answered: “I wish this was the case.

The answer is: no, we are paying market prices.” Fuel costs remained the top expenditure for the 4th year running, accounting for 30.6 percent of total operating costs compared to 29.1 percent in 2006/2007.

So far, the group has been financed simply by borrowing money from banks. However, the will to go public and to list some 20 to 25 percent of the capital of the state-owned Emirates group was expressed by Sheikh Ahmed in November 2007.

This could certainly boost Emirates capital base, since the red and white logo is already recognisedglobally. Emirates is not only flying to 99 destinations and all continents, but is constantly expanding its sponsorship network.

•At home, Emirates Airlines sponsors the annual Dubai World Cup; the most lucrative horse race globally (usually held in March), as well as the Golf tournament, Dubai Desert Classics, which takes place every year in January.

•Among Europe’s top football clubs, Emirates sponsors the teams of Germany’s Hamburger SV and England’s Arsenal London. Arsenal’s US$600 million stadium is even named after the airline. Emirates Stadium opened in July 2006 and has a capacity of 60,355 spectators.

Dubai would not be Dubai if it did not have dreams that go beyond the civil aviation industry. Dubai’s ruler, Sheikh Mohammed, announced the creation of the Dubai Aerospace Agency (DAE).

Around US$ 15 billion will be invested in this giant that will pave Dubai’s path to a centre for designing, constructing planes and repairing aircraft. The DAE University had aimed to become a centre for educating pilots, aircraft designers and mechanics, but was forced to cancel the entire study program.

DAE blames high oil prices for the lack of interest among young potential students. Nevertheless, Dubai hopes to create 30,000 new jobs with the help of DAE by 2015.