Sir Maurice Flanagan, executive vice chairman and one of the founders of Emirates Airline, has revealed that “it would make sense” to sell the airline in the future, in order to help service Dubai’s mountain of debt. Experts estimates that such a sale would generate up to US$11bn.
“I wouldn’t like to see it happen,” Flanagan said when asked if the airline, the largest in the region and one of Dubai’s most prized assets, would ever be sold. However, he conceded it had not been ruled out as a source of revenue to help finance Dubai’s debts, estimated by the IMF to be around $109bn.
“I don’t think it is being seriously thought of, but the time might come when it would make sense to do that,” Flanagan added, in an interview to be published in Arabian Business next Sunday.
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