Sheikh Ahmed bin Saeed: the credit crunch will not affect the growth Emirates Airline.
Monday, 27 October 2008

Emirates Airline stated that the world financial crisis will not impede the expansion campaign because the company is not facing problems with funding aircraft despite the decrease in liquidity on Monday.

“We don’t have a problem with funding new aircraft,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group.

Emirates Airline has asked for the purchase of 58 airplanes of the model A380, which have two floors, from the company Airbus. This purchase deal is worth more than $18 billion.

The company of Emirates Airline stated last month that it has made arrangements for funding following Islamic guidelines that’s worth $265 million in order to pay the debts of renting two new airplanes from the company Boeing.

With these two airplanes, Emirates Airline fleet will increase to 111 aircraft.

Source: Press Release (Emirates)