For sale: Emirates Airlines
Posted: Tue 30 Nov, 2010 2:08 PM
Emirates Airlines could well be up for grabs. In a bid to reduce the national debt, Mohammed Ibrahim Al Shaibani, director general of the Dubai Ruler s Court, was quoted as having stated that the possibility of offering a stake in the airline has been studied and considered , according to a report in eTurboNews.
Emirates Airlines is the most high profile carrier in the Middle East. The company s first half net profit for 2010 was AED3.4-billion (US$926-million), an increase of four times as compared to same time last year.
Dubai s sovereign debt currently stands at about US$30-billion.
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