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Emirates says Credit Crunch Won't Affect Growth Plans - ASHARQ AL-AWSAT English Archive
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DUBAI, (Reuters) – Dubai’s government-owned Emirates airlines, the Middle East’s largest, said on Monday the global financial crisis would not curb its expansion drive as it had no problem financing aircraft despite tighter liquidity.

“We have no problem in our aircraft financing,” Emirates Chairman Sheikh Ahmed bin Saeed al-Maktoum told Reuters on the sidelines of a property fair in Dubai.

Emirates has around 58 Airbus A380s on order worth over $18 billion.

It said last month it had raised $265 million in an Islamic financing arrangement to pay for the lease of two new Boeing planes whose delivery brings Emirates’ passenger fleet to 111.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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