In a bid to reduce its heavy debt burden, Dubai's government is considering selling some of its most prized assets, including a stake in flagship carrier Emirates Airline, the director general of the Dubai Ruler's Court said Sunday.
"The possibility of offering a stake in Emirates Airlines to the public is always there and is being studied and considered," Mohammed Ibrahim Al Shaibani told a Dubai press conference in an update on the emirate's economic situation. "But it is well known that offering stakes to the public in solid commercial companies like Emirates is not always useful."
Emirates Airline is widely considered one of Dubai's most precious and profitable assets. The Middle East's largest carrier last month said first-half net profit rose fourfold to 3.4 billion U.A.E. dirhams ($925.8 million), from 752 million dirhams a year earlier.
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