Emirates investing in jumbo jet fleet

Emirates is investing in a wide-body jet fleet including 90 Airbus SAS A380 Super-jumbos worth $34bn at list prices and financing the planes isn’t a concern as it’s fully funded through July 2012. A $US1 billion bond issue earlier last month was "opportunistic" and Emirates would consider a further sale given 'suitable' pricing," Gary Chapman, President for Services, said. The world's biggest international airline would consider seeking a credit rating if such a move appeared advantageous, he added. Emirates had $4.4 billion in cash at the end of its fiscal year on March 31 and would generally aim to maintain a figure equal to 25-30 per cent of revenue, Chapman said. Emirates will need about $25.26 billion to fund jet deliveries for the next six years, Chapman reiterated. About 199 planes are slated for delivery through 2019, the latest factsheet says. Now Emirates handles more aircraft, more passengers, more cargo, and more baggage outside of Dubai than inside, so it is no longer Dubai-centric. Emirates will continue to expand its ground-handling operations and is in talks concerning one or two acquisition opportunities in the segment, to be announced before the year's end, said Chapman. "We continue to look at opportunities," the Executive added.