Civil Defense warns of thunderstorms in most Saudi regions until Thursday    U.S praises Saudi Arabia for hosting U.S - Russia talks in Riyadh    Energy minister: 5 Saudi renewable energy projects go operational in Egypt    Russia, US agree to resolve diplomatic issues, discuss Ukraine war in Riyadh talks    Turki Al-Sheikh: Visitors to Riyadh Season hit record number of 20 million    Al-Falih: Asia demonstrates strong investment interest in Saudi Arabia    Cabinet: Hosting US-Russia talks reemphasizes Saudi Arabia's commitment to global peace and security    Saudi Arabia affirms commitment to joint work toward building a future for GCC tourism    Al-Hada Road in Taif will reopen for traffic on Thursday    Israel keeps some troops in Lebanon after truce withdrawal deadline    'I was just in a plane crash': Witnesses recount escape in Toronto    Al Ahli defeat Al Gharafa to seal AFC Champions League Elite knockout berth    Al Nassr hold Persepolis to goalless draw, leaving Iranian side's knockout hopes in doubt    Saudi Prosthetic Limbs Center revives hope in the life of little Matilda    Spouse of Crown Prince launches Misk Heritage Museum 'Asaan' in Diriyah    Conclave and The Brutalist win big at the Baftas    Al Ittihad CEO calls for fairness as Al Hilal raises officiating concerns ahead of Saudi Classico    Benzema shines with goal and two assists as Al Ittihad dominate Al Wehda French star leads Al Ittihad to 4-1 victory, extending lead over Al Hilal ahead of top-of-the-table clash    Maya Diab joins Arab stars and celebrities in celebrating the Centrepoint Ramadan 2025 collection launch at Riyadh Boulevard    Oilatum tackles rise in Eczema and Dry Skin in Saudi Arabia    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    









Emiratesunaffected by crisis
Published in The Saudi Gazette on 01 - 12 - 2009

Airbus dismissed any concerns over the impact of the Dubai crisis on top customer Emirates on Monday, saying the airline was meeting its payments and would stick by expansion plans that call for dozens of new planes.
“We have complete faith in Emirates. They are current in all their contractual commitments with Airbus and we are confident that they will remain so,” Airbus sales chief said.
“We expect (Emirates chief executive) Tim Clark and his team to continue their growth strategy and we want to be part of that bright future,” he told Reuters by email.
Clark told a British newspaper on Sunday that the airline, which has an estimated $55 billion of aircraft on order, had no plans to cancel plane purchases.
He also said it would refinance or repay all its outstanding bonds on schedule and that its finances were on solid ground.
However if market turbulence gets worse, the airline will have to “moderate” its growth, he told the Sunday Telegraph.
Emirates is a major customer of both EADS subsidiary Airbus and its US rival Boeing.
The Arab world's largest airline has a total of $34.8 billion worth of planes on order from Airbus based on current list prices.
That includes 53 superjumbos worth $17.4 billion out of a total order of 58 of the world's largest airliner, making Emirates the planemaker's biggest customer by order value. Emirates has so far taken delivery of five A380s.
Dubai's state-owned Emirates Airline said the debt crisis afflicting the sheikdom won't halt a surge in profit or threaten the carrier's independence and jetliner orders with Boeing Co and Airbus SAS.
Calling the media response to the city's debt-servicing issues “hate Dubai week,” Emirates Vice Chairman Maurice Flanagan said net income in the second-half ending March 31 will surpass the $205 million posted in the first six months and should reach about $1 billion next year.
“We confidently expect our second-half to be stronger than our first,” said Flanagan, who helped found the airline in 1985.
Emirates, also owned by Sheikh Mohammed Bin Rashid Al Maktoum, added 22 percent more seats in the first half as most carriers reined in capacity to cope with the recession.
Flanagan said in a telephone interview that Dubai's rulers are unlikely to cancel plane contracts while Emirates continues to make money and that the carrier has a detailed business plan for the expanding fleet.


Clic here to read the story from its source.