Emi­rates needs ?$5b in next fis­cal year


Emi­rates the world’s big­gest air­line by in­ter­na­tional pas­sen­ger traf­fic, said it needs about $5 bil­lion in the year start­ing April to pay for planes.

The money will be raised from “a mix­ture of all the sources we have con­sid­ered in the past, so com­mer­cial bank, op­er­at­ing leases, some ex­port cred­its,” Brian Jef­fery, se­nior vice-pres­i­dent for cor­po­rate trea­sury, said on Wed­nes­day.

Emi­rates, which be­gins its fis­cal year on April 1, has raised $1.75 bil­lion from the sale of sukuk and bonds over the past two months. “Whether we do any more is not cer­tain of course, but com­pared to the past few years, we have al­ready started to do more cap­i­tal mar­kets trans­ac­tions be­cause of the con­di­tions of the mar­kets,” he said.


The stu­dent del­e­gates de­bated in nine dif­fer­ent com­mit­tees over the con­fer­ence’s four days, in­clud­ing the Se­cu­rity Coun­cil, League of Arab States, World Eco­nomic Fo­rum and Gen­eral As­sem­bly.

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