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Emirates to tap bond market in near future: reports

1-Jun-2011 12:18 PM

Emirates Airline has reportedly plans to tap the bond market in the near future as the carrier considers its fleet expansion with the delivery of more A380s and B777-300ERs (The National/Bloomberg, 01-Jun-2011). The carrier has already completed lending terms with three foreign banks, including Doric Asset Finance, Natixis and Jackson Square Aviation for the financing of 10 of the aircraft, including five A380s and five B777s scheduled for delivery by Jul-2011. Emirates has also completed an operating agreement with Dubai Aerospace Enterprise (DAE) to lease seven new Boeing freighters, including two B747-800Fs and five B777s. "With the obligations we have coming up, it's nice to have the cash buffer to deal with anything ahead of us," President Tim Clark noted.