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Wed 24 Nov 2010 03:15 PM

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Export credit changes would hurt smaller carriers - Emirates  

Carrier's president expects the Airbus SAS A350 wide-body jet will face a 'few delays'

Export credit changes would hurt smaller carriers - Emirates  
EMIRATES BOSS: Clark said he expects the Airbus SAS A350 wide-body jet will face a few delays that may extend to as much as one year (ITP Images)

Emirates president Tim Clark said
smaller airlines may find that export credit used to fund plane purchases becomes
more expensive if the guarantees are opened up to carriers in western Europe
and the US.

The extension of guarantees to
companies such as Air France-KLM Group would likely be accompanied by changes
to export credit agency terms that would make them “more expensive,” Clark said
at a briefing in Paris.

“It’s not going to affect us at
Emirates because we’ll get our money with or without export credit agencies,”
Clark said, adding that changes would have the greatest impact on carriers that
“can’t go to the commercial debt market because their balance sheets aren’t
strong enough.”

Clark said he expects the Airbus SAS A350 wide-body jet
will face a “few delays” that may extend to as much as one year, according to
comments at a press briefing in Paris on Wednesday.

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