EMIRATES STAKE COULD BE UP FOR GRABS

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By admin November 29, 2010 20:53

EMIRATES STAKE COULD BE UP FOR GRABS

The director general of the Dubai Ruler’s Court Mohammed Ibrahim Al Shaibani has suggested that the emirate could offer a stake sale in Emirates Airline as part of plans to reduce the its debt.

“The possibility of offering a stake in Emirates Airlines to the public is always there and is being studied and considered,” said Al Shaibani.

But he backtracked a little by saying that offering stakes in “solid commercial companies” such as the airline was “not always useful”.

However Dubai’s sovereign debt is around $30 billion, selling a stake in Emirates would go a long way to paying that down. The airline’s first half net profit increased four times to AED3.4 billion ($926 million) compared to the same period in 2009.

admin
By admin November 29, 2010 20:53
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