Emirates (EK, Dubai Int’l) or one of its subsidiaries could soon be listed on the Dubai Financial Market stock exchange, Ahmed bin Saeed al-Maktoum, the group’s chairman and chief executive, said while touring the 2021 Dubai Air Show.
Speculation that the state-owned airline could stage an Initial Public Offering (IPO) has been ongoing for decades, such as in 2007 when its president, Tim Clark, commented that a listing was likely to value it at between USD20 billion and USD30 billion.
Since the Covid-19 outbreak, however, it has posted losses and received state equity injections totalling USD3.1 billion.
Earlier this month, the Emirate of Dubai announced the listing of ten state-owned companies on the local stock exchange in an acceleration of new listings in sectors such as energy, retail, and logistics. So far, it has named the Salik road toll system and the utility Dubai Electricity and Water Authority to take this route.
“We are one of the companies owned by the government of Dubai. I’m sure that the [Dubai Securities and Exchange Higher Committee] will be announcing which company will be [listed next]. Within Emirates Group, one or two units [could be listed] – there are many successful businesses that we run,” he said without elaborating, as quoted by Gulf Business magazine.
Al-Maktoum also pledged that Emirates will deploy more A380-800s as demand rises.
“Currently we have forty-seven A380s in operation, and by the end of the year we plan to deploy roughly sixty,” he said.
According to the ch-aviation fleets advanced module, forty-nine of the airline’s 120 A380s are currently active.
As previously reported, Emirates announced at the airshow that it had ordered six freighters – two B777-Fs from Boeing and four B777-300(ER)(SF)s from Israel Aerospace Industries.
Malé Velana International Airport, the main international airport in the Maldives, has extended the minimum time between landings for international flights, resulting in the cancellation of a large number of slots, according to an announcement by Edelweiss Air (WK, Zurich).
In an aeronautical circular valid until March 31, 2022, the Maldives Airports Company has also warned airlines of possible delays and diversion of flights due to congestion at the airport during operational peak hours resulting from ongoing civil works to upgrade the airport’s capacity. Operators have been advised to have enough fuel for at least 45 minutes of holding. The company also warned airlines to strictly follow slot times as there is limited parking space. Preference would be given to aircraft arriving on schedule, it said.
The slot changes have impacted Edelweiss, which has announced changes to its winter flight schedule for 2021/22 from Zurich. Due to the capacity reduction at Malé Airport, the Swiss leisure carrier will no longer be able to fly to Malé on Mondays and Thursdays as planned, but has…
Emirates (EK, Dubai Int’l) has ordered two B777-Fs from Boeing and four B777-300(ER)(SF)s from Israel Aerospace Industries.
The two new-build freighters will be delivered in April and June 2022 respectively while the P2F B777-300(ER)s, according to IAI, will undergo cargo conversion at Etihad Airways‘ MRO hub in Abu Dhabi Int’l from early 2023 through 2024 with each aircraft taking up to an estimated five months for the process. The agreement also includes an option for further B777-300(ER) conversions at a later stage. Neither Emirates nor IAI would disclose the identity of the aircraft to be used.
“Emirates plays a key role in making essential goods available to customers and consumers globally through the capacity available on our widebody fleet, the reach of our global network and the advanced infrastructure at our Dubai hub,” Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive, Emirates Airline and Group, said during the 2021 Dubai Air Show. “Today, we are delighted to announce an investment of USD1 billion to further expand…
Editorial Comment: Updates with Emirates press release – 17.11.2021 – 08:52 UTC
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The entire board of TAAG Angola Airlines (DT, Luanda), including Chief Executive Officer Rui Carreira, has been axed by presidential decree in line with the Angolan government’s plan to restructure and privatise the airline, according to an announcement by President João Lourenço.
The move is part of the implementation of TAAG’s restructuring plan and strategic objectives and follows Presidential Decree No 186/20 of July 17, 2021, by which the nominal value of TAAG’s share capital was adjusted and the company’s shareholder structure was adjusted to no longer be wholly-owned by the state, according to a Presidency statement.
Those dismissed include Board Chairman Hélder da Silva Gonçalves de Moura e Preza; CEO Rui Carreira; and eleven board members. According to State broadcaster Rádio Nacional de Angola (RNA), Carreira has, however, been given a non-executive directorship on the airline’s new Board. Carreira did not immediately respond to a request for comment.
Meanwhile, Angolan media reports that former Viva Air Perú chief executive Eduardo Fairen Soria will replace Carreira as CEO of TAAG. Soria is also a…
Editorial Comment: Added information on the new Board. – 25.10.2021 – 08:27 UTC
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Emirates mulls IPO for itself or one of its units – ch-aviation
