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Emirates Needs $5 Billion in Fiscal 2014 to Buy Airliners

Published: 20/03/2013 08:24:14 PM GMT
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Emirates, the world's biggest airline by international passenger traffic, said it needs about $5 billion in the year starting April to pay for planes. (more)

Emirates, the world's biggest airline by international passenger traffic, said it needs about $5 billion in the year starting April to pay for planes.

The money will be raised from "a mixture of all the sources we have considered in the past, so commercial bank, operating leases, some export credits," Brian Jeffery, senior vice president for corporate treasury, said today as the carrier's Islamic bonds listed on Nasdaq Dubai.

Dubai government-owned Emirates, which begins its fiscal year on April 1, has raised $1.75 billion from the sale of sukuk and bonds over the past two months. "Whether we do any more is not certain of course, but compared to the past few years, we have already started to do more capital markets transactions because of the conditions of the markets," Jeffery said.


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