Emirates Airline has underscored its own "secure financial position" despite the debt clouds hanging over its Dubai home by detailing the financing for its next six Airbus A380 deliveries.
Airline boss Tim Clark says the carrier has raised more than $1.13 billion, or $188 million per aircraft on average, in financings through two different structures.
"We have never encountered difficulties in obtaining finance for our aircraft acquisition programme, with both international and regional banks comfortable with our financial stability," he says.
"As one of the world's most profitable airlines, Emirates has always honoured its financial commitments and we continue to progress with our rigorous fleet and network expansion plans."
The first mandate, covering three A380 aircraft, is arranged by US bank Citibank and is guaranteed by the European Export Credit Agencies, which usually back 75% of the cost of the aircraft. The second, which also covers three aircraft, is arranged by Doric Asset Finance and taps the German KG fund market.
Source: Flight International
