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Tue 20 Jun 2017 09:07 AM

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No plan to buy stake in any airline, Emirates confirms

Airline says it will continue to focus on organic growth, increase network

No plan to buy stake in any airline, Emirates confirms
Emirates acquired a stake in SriLankan Airways in 1998 by paying $70 million (AED257m), but sold its share for $53 million (AED194m) in 2010. (LAKRUWAN WANNIARACHCHI/AFP/Getty Images)

Emirates has no plans to buy stakes in any airline and
airport across the world, the airline has confirmed.

The Dubai-based airline clarified its stance after Sri
Lanka’s State Finance Minister Eran Wickramaratne said informal talks have
taken place with those, including Emirates, who have shown interest in
investing in its national career SriLankan Airways.

“Emirates confirms it has no plans to acquire a stake
in any airline and airport in Sri Lanka or elsewhere,” an airline spokesperson
told Arabian Business.

“Our business is focused on organic growth and has a
pipeline of investments to renew and grow the fleet, expand the global network
and continuous innovation of our products and services.”

The airline acquired a stake in SriLankan Airways in
1998 for $70 million (AED257m), but sold its share for $53 million (AED194m) in
2010.

Speaking to reporters in Colombo, Wickramaratne said
the government was “in contact with Emirates at the moment” and has plans to
hold talks with few other airlines.

“We will not go for outright privatisation of our
airline. It will be only equity sharing under the private public partnership
model,” he said.

Arabian Business has approached SriLankan Airlines for
a comment.

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