Jun 12 2012 |
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Emirates CEO Tim Clark: Won't Seek Equity Investment in Qantas
Tuesday, Jun 12, 2012
-- Emirates Airline not interested in seeking equity investment in Qantas Airways
-- Dubai-based carrier open to other arrangements, including codesharing, with Qantas
-- Emirates Airline has no plans to make new orders at Farnborough Air Show in July
BEIJING-- Emirates Airline Chief Executive Tim Clark said Tuesday the Dubai-based carrier isn't interested in seeking an equity investment in Qantas Airways Ltd. (QAN.AU), though he said the airline would be open to other types of commercial arrangements, such as codesharing, with the Australian company.
"We wouldn't put equity into it. That's not what we do," Mr. Clark said in an interview with Dow Jones Newswires. He said the only equity investment the carrier ever made was on SriLankan Airlines in 1998, but exited that arrangement in 2008, noting the difficulties in maintaining such investments.
Mr. Clark also said the airline has no plans to make any new orders at the Farnborough Air Show in July, noting it already has dozens of aircraft on order, with its order books to last through 2022. Emirates had in past announced significant aircraft orders during such air shows.
Write to Jeffrey Ng at jeffrey.ng@dowjones.com
(END) Dow Jones Newswires
12-06-12 0548GMT
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