10-Mar-2011 1:25 PM

Emirates cancels plans for bond issue following North Africa unrest

Emirates CEO Tim Clark stated the carrier has cancelled plans for a bond to finance expansion after the uprisings in North Africa made rates more expensive (Reuters, 09-Mar-2011). "We tested the water and it was pretty muddy. So, we've parked it," Mr Clark stated.  The carrier had mandated banks for a bond issue. Mr Clark stated the carrier has no problems financing its expansion, however, and that "cash flows had been mapped".

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