Emirates airline announced today that it has repaid a US$ 550 million sukuk bond in full on its maturity date 18 June, 2012. The sukuk bond, listed on the Luxembourg Stock Exchange, was originally issued in 2005 with a seven year term.
The US$ 550 million sukuk bond was the first of its kind to be issued by Emirates representing its commitment to utilising a diverse range of funding tools, including Islamic financing.
“The repayment of our first ever sukuk bond is part of Emirates’ varied financing strategy and reflects our robust financial position,” commented His Highness (H.H.) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group. “Our consistent profitability and sound business model continue to ensure that we receive sufficient offers of financing to support our long term growth.”
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