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Tue 29 May 2012 12:18 PM

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Emirates can settle US$550m debt next month - Jeffery

Dubai airline has not decided whether it will refinance or repay debt, says executive

Emirates can settle US$550m debt next month - Jeffery
Airline has ‘good’ cash flows and is able to repay its US$550m of Islamic bonds due in June.

Emirates, the biggest airline by international traffic, has ‘good’ cash flows and is able to repay its US$550m of Islamic bonds due in June, Senior Vice President of Corporate Treasury Brian Jeffery said.

The airline has not decided whether it will repay or refinance the debt, Jeffery told reporters in Dubai today. The price differential of issuing sukuk as opposed to non-Islamic debt would need to be “significant” to issue the Shariah-compliant securities, he said.

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