Emirates to return to bank market in 2014

Source: Flightglobal.com
This story is sourced from Flightglobal.com

Emirates plans on returning to bank funding to purchase aircraft after tapping the capital markets for nearly half of its deliveries this year.

"We took advantage of the capital markets because the banking market, which has historically been our biggest source of financing, was either disappearing or too pricey," said Brian Jeffery, senior vice-president of Emirates at International Society of transport Aircraft Trading (ISTAT) today.

"However, the banking market is returning and we are getting some very competitor offers from banks for April 2014 onwards."

For its current financial year, Emirates financed 12 out of 25 aircraft in the capital markets, he says.

While Jeffery admits the capital markets are a "big part" of its strategy, he admits more commercial bank funding is likely for Emirates.

"Yes, capital markets are very important to us, but I have say it is not the only option for us," he says, adding: "We will go back a bit more to the banking market for next year."