Emirates announces $1 billion bond repayment

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By Sarah Townsend www.arabianbusiness.com

Emirates has repaid a bullet bond valued at $1 billion (AED3.673 billion) and plans to repay another bond worth SGD150 million ($111 million) later this month, the airline said on Thursday.

The first bond had a maturity date of June 8 and was raised in 2011 to address Emirates’ working capital requirements, it added.

The Singapore dollar bond was originally raised in 2006. The airline said it was repaying both bonds from its own cash resources, ‘reflecting its robust financial position’.

Emirates last month reported its highest ever profits for the year ending March 31 2016 – with $2.2 billion (AED8.2 billion) of profits, up from 50 percent last year. More info

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