Arab Today, arab today emirates superjumbos fully funded for next year
Last Updated : GMT 05:40:48
Arab Today, arab today
Arab Today, arab today

Emirates superjumbos fully funded for next year

Arab Today, arab today

Arab Today, arab today Emirates superjumbos fully funded for next year

Dubai - Arabstoday

Emirates, investing in a wide-body jet fleet including 90 Airbus A380 superjumbos worth $34 billion (Dh124.8 billion) at list prices, said financing the planes isn\'t a concern and that it\'s fully funded through July 2012. A $1 billion bond issue last month was \"opportunistic\" and Emirates would consider a further sale given \"suitable\" pricing, Gary Chapman, President of Dnata and Services, Emirates Group, said in an interview. The world\'s biggest international airline would consider seeking a credit rating if such a move appeared advantageous, he said. \"The bond was part of risk management and making sure we have a nice cushion of cash just in case,\" Chapman said in Dubai, adding that there are no plans for a further issue right now. Article continues below Obligations for the current year are being met through a mixture of debt and equity, he said. Emirates plans to spend about $4 billion annually over the next three to four years. Fuel-price volatility will be managed through ticket-price changes and the carrier\'s cash balance, and it has been less active in hedging for fear of being locked in at prices creating a competition disadvantage, Chapman said. \"We have limited cover in terms of call options which will be triggered at higher prices,\" he said. \"We are not heavily hedged at the moment and that\'s a conscious decision.\" Emirates removed its fuel surcharge in May after oil prices fell. Hub challenge Emirates is building the largest superjumbo fleet as it seeks to establish Dubai as an inter-continental travel hub and win passengers from Air France-KLM Group, British Airways and Deutsche Lufthansa AG. Emirates will need about $27 billion to fund jet deliveries for the next six years, Chapman reiterated. About 199 planes are slated for delivery through 2019, the latest fact sheet says. \"We always aim to have about 50 per cent of our fleet on operating leases, so we often do sale and lease back,\" a strategy that shifts asset risk from the balance sheet, said Chapman. The company, which self-finances up to 85 per cent of aircraft purchases, aims to continue building up its cash pile. \"There\'s a lot of uncertainty still out there in the world, given what\'s happening in Greece and Portugal, he said. \"And the US is struggling.\" Emirates had Dh16 billion in cash at the end of its fiscal year on March 31 and would generally aim to maintain a figure equal to 25-30 per cent of revenue, Chapman said. During the financial crisis of 2008 and 2009 most airlines suffered a drop of 20 per cent in sales, he said. Dnata rebranding Emirates boosted annual earnings 43 per cent to a record Dh5.93 billion in the fiscal year as it attracted passengers with its growing A380 fleet. Plans to rebrand the Dnata ground-handling and catering unit are underway as part of an overseas expansion, with the name being applied to operations in Singapore, currently trading via Changi International Airport Services (CIAS), and the UK, fully acquired in 2005 and operating as Trade Handling. \"We now handle more aircraft, more passengers, more cargo, and more baggage outside of Dubai than inside, so we are no longer Dubai-centric,\" Chapman said. Emirates will continue to expand its ground-handling operations and is in talks on acquisition opportunities in the segment, which it may announce before the year\'s end, he said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today emirates superjumbos fully funded for next year Arab Today, arab today emirates superjumbos fully funded for next year

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday