12-Jul-2011 1:07 PM

Emirates funded A380 deliveries through to July 2012

Emirates announced it has secured full financing for its A380 deliveries through to Jul-2012 through a mixture of debt and equity and will self-finance up to 85% of its aircraft purchases (Bloomberg, 12-Jul-2011). A recent USD1 billion bond issues was an "opportunistic" risk management and cash cushioning exercise. Gary Chapman, President of Dnata and Services, Emirates Group confirmed Emirates would consider a further bond sale, depending on pricing. He also confirmed Emirates would consider seeking a credit rating if it saw an advantage in such a move.