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FINANCIAL NEWS
Emirates to spend USD10bn a year
29 Apr 2011
(MENAFN) Dnata, Emirates Group’s airline services arm’s president, Gary Chapman, said that the airline would expand its fleet by buying thirty aircrafts a year for the next three years, as a result, it would spend USD10 billion each year as purchase cost, reported Arab News.
Chapman added that after the political upheaval in the Middle East that made rates more expensive, the company canceled plans it had for a bond to finance its aircraft expansion.
He also said that as a result of its plans to expand, sooner or later, Emirates, the Dubai government owned carrier, would tap debt markets to finance its expenditure although it has enough cash at the time being.
It is worth noting that Dnata, which provides ground handling, cargo, travel and flight catering, launched a branding campaign aimed at enhancing its profile abroad. The unit is seeking acquisitions in Asia and the Gulf Arab region following its purchase of the flight catering unit of Italy’s Autogrill SpA in 2010.
More News
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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