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Emirates “will not be affected” by Dubai problems |
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Monday, 30 November 2009 |
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The president of UAE-based Emirates Airline has told the UK’s Sunday Telegraph it’s business as usual for the carrier despite the debt crisis which has struck Dubai.
"We are all a bit shocked by what's happened and the global fall-out," Emirates Airline president Tim Clark said.
"But Dubai will navigate itself out of this, as will we. I am confident that the airline will not be affected by this."
Dubai's government is asking creditors of its Dubai World conglomerate for a US$59 billion debt moratorium of six months.
Clark said Emirates did not intend to cancel any orders for new aircraft, adding that its finances would not be impacted by the current crisis.
"We have independent bonds which are maturing in 2010 and 2011," he said.
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