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FINANCIAL NEWS
Emirates Airline pays back USD500m bond
28 Mar 2011
(MENAFN) Emirates Airline chairman and chief executive, Sheikh Ahmed bin Saeed Al Maktoum, stated that the airline repaid a USD500 million bond which was due in March, and predicted that the coming financial year would be very successful, reported Arabian Business.
Al Maktoum also said that the world’s third top carrier by capacity eyes more success in 2011 by enforcing its fleet with 120 Airbus A380 planes.
The chairman added that the UAE-based airline would raise its fares due to increasing fuel prices pushed by the unrest taking place in many Arab countries.
It is worth noting that Emirate’s President, Tim Clarke, said that the company had cancelled plans for a bond which would finance its expansion. He pointed out that the ongoing political uprising around the region caused rates to climb, which forced the airline to drop its expansion plans.
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