Emirates, the Arab world's largest airline, will spend about $10 billion a year to fund its fleet expansion over three years but is not under pressure to tap the bond market, a senior official said.
The Dubai carrier, which expects to receive about 30 aircraft a year for the next three, dropped plans for a bond to finance expansion after political unrest in the Middle East made rates more expensive.
"Emirates has roughly 30 aircraft a year coming the next five years and a lot of them are A380s... we will need about $10 billion a year," Gary Chapman, president group services and Dnata at Emirates Group told Reuters.
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