Emirates, the world's biggest airline by international traffic, plans to sell dollar bonds as a "cash buffer" and will decide on the size after investor meetings end today, its president said.
"With the obligations we have coming up, it's nice to have the cash buffer to deal with anything ahead of us," including an increase in fuel prices and regional unrest, Tim Clark said in a telephone interview yesterday. "Can we do without it? Yes, we can. We are in a comfortable position." Emirates, which reported record profit of Dh5.93 billion for the financial year ending March 31, has a cash reserve of Dh16 billion.
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