Emirates, the world’s biggest airline by international traffic, needs more than $28 billion through 2017 to expand its fleet of Boeing Co. and Airbus SAS jets, almost double the amount raised since 1996.
Financing requirements for the 12 months through March 2011 will be $1.3 billion, and total about $27 billion for the following six years, Gary Chapman, Emirates’ president of group services in charge of finances, said in an interview in Dubai.
Emirates, which will take delivery of two aircraft each month for the next six years, operates a fleet of 150 jets and has firm commitments for a further 203 planes. The carrier, which is building up a fleet of 90 Airbus A380 aircraft with 45,000 seats, is using its base in Dubai to create a global network to compete with Singapore Airlines Ltd., Air France-KLM Group and Deutsche Lufthansa AG.
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