11-Dec-2009 8:38 AM

Emirates raises over USD1.13 billion to finance next six A380 deliveries

Emirates announced (10-Dec-2009) USD1.13 billion in financing for its next six A380 deliveries scheduled up to early 2010. The first three aircraft are financed by Citibank and backed by a guarantee from the European Export Credit Agencies (ECAs). The next three A380s are financed through Doric Asset Finance. The carrier is scheduled to receive the first of six A380s next week, the second in late Dec-2009 and the next four in early 2010. Emirates will deploy A380 equipment on the Dubai-Incheon sector from 14-Dec-2009 and three times weekly Dubai-Paris service from 29-Dec-2009, which will increase to daily on 17-Jan-2010. [more]

Emirates: "Emirates remains in a secure financial position, despite the global financial crisis. We have never encountered difficulties in obtaining finance for our aircraft acquisition programme, with both international and regional banks comfortable with our financial stability. 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," Tim Clark, President. Source: Emirates, 10-Dec-2009.

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