Emirates Repays US$550 million Sukuk Fund in Full
DUBAI, UAE - Emirates airline announced today that it has repaid a US$ 550 million sukuk bond in full on its maturity date 18 June, 2012. The sukuk bond, listed on the Luxembourg Stock Exchange, was originally issued in 2005 with a seven year term.
The US$ 550 million sukuk bond was the first of its kind to be issued by Emirates representing its commitment to utilising a diverse range of funding tools, including Islamic financing.
"The repayment of our first ever sukuk bond is part of Emirates' varied financing strategy and reflects our robust financial position," commented His Highness (H.H.) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group. "Our consistent profitability and sound business model continue to ensure that we receive sufficient offers of financing to support our long term growth."
Emirates recorded its 24th consecutive year of profit in the 2011-12 financial year, despite unprecedented economic pressure, highlighting its strong financials.
"With the Eurozone debt crisis on-going it is likely that Islamic financing, with its large pool of liquidity, will play an increasingly important role for us moving forward," added Sheikh Ahmed.
Emirates uses a variety of financing options, including: operating leases, EU/US export credits, commercial asset-backed debt, Islamic financing, Conventional bonds as well as Islamic Sukuks.
More Airlines News
Qatar Airways inaugurates service to Helsinki
Monday, 10 October 2016
The inaugural Qatar Airways flight to Helsinki, Finland, landed today. Qatar Airways Group Chief ...
Jennifer Aniston stars in another Emirates TV commercial
Saturday, 08 October 2016
Hollywood actress, director and producer Jennifer Aniston has starred in a new Emirates A380 ...
Emirates Airbus A-380 lands in Amman, Jordan
Sunday, 25 September 2016
Emirates’ Airbus A380 touched down at Queen Alia International Airport in Amman, Jordan for a ...
Qatar Airways wins Business Traveller Asia-Pacific Award
Sunday, 25 September 2016
At a ceremony in Hong Kong, Qatar Airways was awarded the title of Best Middle East/African ...
Emirates adds Guangzhou to its global list of A380 destinations
Tuesday, 09 August 2016
Emirates will operate its flagship A380 on services between Dubai and Guangzhou from 1st October ...
Water cannons welcome Emirates' inaugural flight to Yangon
Wednesday, 03 August 2016
Emirates Airline launched its inaugural flight to Yangon, Myanmar, this morning. This marks the ...
Start your Adventure
North & South America