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Mon 6 Oct 2008 01:20 PM

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Emirates growth still on course amid credit crunch

Airline's chairman says there is no problem financing aircraft despite tighter liquidity.

Emirates growth still on course amid credit crunch
GROWTH PLAN: Emirates says the global financial crisis will not stop the airlines 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.

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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