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Wednesday, 25 November 2009 17:18 UAE time

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Emirates growth still on course amid credit crunch

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 06 October 2008
GROWTH PLAN: Emirates says the global financial crisis will not stop the airline's expansion plans. (Getty Images)
GROWTH PLAN: Emirates says the global financial crisis will not stop the airline's expansion plans. (Getty Images)

Dubai's government-owned Emirates, the Middle East's largest airline, 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 while visiting the Cityscape property exhibition in Dubai.

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

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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. (Reuters)

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