Emirates repays $550m sukuk
Dubai, June 18, 2012
Emirates airline, Dubai's flagship carrier, repaid in full a $550 million Islamic bond, or sukuk, at maturity on Monday, the company said in a statement.
"The repayment of our first ever sukuk bond is part of Emirates' varied financing strategy and reflects our robust financial position," chairman Sheikh Ahmed bin Saeed Al-Maktoum said in the statement.
"With the Eurozone debt crisis on-going it is likely that Islamic financing, with its large pool of liquidity, will play an increasingly important role for us moving forward."
Emirates put to rest speculation that it may refinance the maturing sukuk in an interview with a local newspaper last week. - Reuters