EMIRATES REPAYS $500 MILLION BOND ON SCHEDULE

Emirates airline announced yesterday that it has repaid a $500m bond in full on its maturity date March 24, 2011. According to a statement by the world’s third largest carrier, the bond, listed on the Luxembourg Stock Exchange, was originally issued in 2004 with a seven-year term. “The repayment of this bond is part of Emirates’ overall financing strategy and reflects its robust financial position,” said HH Sheikh Ahmed bin Saeed Al-Maktoum, chairman and chief executive, Emirates Airline and Group. “We have a well-documented expansion plan for the airline and will continue to use our normal diverse range of options