Emirates airline signs $750 million sales-backed loan | Reuters
Emirates, the world's largest long-haul airline before the pandemic, has signed a $750 million five-year dual-tranche financing facility with Emirates NBD, the bank said on Tuesday.
"The landmark transaction remains competitively priced and marks a first for Emirates Airline as a sales-receivable backed financing structure, aimed to diversify their liquidity pool," said Emirates NBD, Dubai's biggest lender.
Emirates has received $3.1 billion in state support from Dubai since the start of the pandemic. That includes $1.1 billion in June, when it reported a $5.5 billion loss for the year ended March - its first annual loss in more than three decades.
It was the airline's biggest annual loss, and only its third ever following losses in 1987-88 and 1985-86, its first year in operation, an Emirates representative has said.
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