Emirates airline profit expected to be higher than previous year
Dubai will not have any issues in repaying all its debt maturing in 2015, and more state-linked firms are likely to repay obligations ahead of schedule, a top government official said on Tuesday.
"We will have no issues in repaying debt coming up next year," said Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA), Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group. Sheikh Ahmed also heads Dubai's Supreme Fiscal Committee.
Sheikh Ahmed was speaking to Reuters on the sidelines of a Dubai travel industry conference.
"We saw some companies pay before time already. I think you might see some more like this in the year to come, " said Sheikh Ahmed.
Mohammed Al Shaibani, chief executive of sovereign wealth fund Investment Corp of Dubai, said in March that Dubai World has the means to make its first big repayments on time next year and expects to pay off more of its debt ahead of schedule.
Sheikh Ahmed is also chairman of Dubai's Emirates airline which will report its results for the financial year to end-March 2014 on Thursday. He said the company's profits would be higher than in the previous year.
© Emirates 24|7 2014
