Emirates Airline, the biggest Arab airline, said it may be ready to sell shares to the public in two to three years as the global air-travel market shows signs of recovery and Middle Eastern carriers expand their business.
“Because the market is going towards growth, within two to three years from now would be excellent,” Chairman Sheikh Ahmed bin Saeed Al-Maktoum said in an interview at the Dubai air show, referring to a timing of an initial public offering. Any decision would rest with the government, led by Sheikh Mohammed bin Rashid Al-Maktoum, he said.
Sheikh Ahmed said at the last Dubai show in 2007 that the government would probably sell about 20 percent to 30 percent of the airline in an IPO, seeking to raise as much as $9 billion. Emirates has since been hit by the global slump in air travel. In the six months through September, the carrier’s sales fell 13.5 percent on lower passenger and cargo yields.
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