27 June - 3.July, 2001

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Emirates launches DH 750 million bond issue

Emirates, the Dubai-based international airline has launched a 750 DH million (approx. Lm10 million) bond issue to partly finance new projects of the Group.

Emirates, which flies to Malta three times weekly, is one of the world’s fastest growing international airlines with a rapidly expanding global network. The Emirates Group consists of Emirates and Dnata, the largest travel management services company in the UAE and the sole ground handling agent at Dubai International Airport.

Recently, Emirates Chairman, HH Sheikh Ahmed bin Saeed Al-Maktoum declared the best-ever-financial results of the Group. In the company’s Annual Report, Sheikh Ahmed commented: "I had forecast another successful year for the Group, but the airline and travel industries are notoriously unpredictable. We had to make a number of major changes to our strategy and tactics to achieve what, in the end, was again a record year."

The bond issue is open to national investors, while other selected investors are being invited to invest. Copies of the offering memorandum relating to the bond issues are available from HSBC Director of Investment Banking, David Moleshead, (Tel (04) 227 1291 / 2288999) or from Terry Allen, Head of Treasury and Investment Banking at the National Bank of Abu Dhabi, (Tel (02) 665 9328).

Currently, the Emirates Group also owns the Destination and Leisure Management, consisting of Emirates Holidays; Al Maha Desert Resort, and Arabian Adventures; Mercator - the Information Technology division; and co-owner of SriLankan Airlines.

Emirates airline has been operating to Malta since 1998. The airline operates a non-stop flight from Dubai to Malta, and flights from Malta to Dubai have a stopover in Tripoli.



The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt