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Emirates Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum said the Dubai-based airline is “very satisfied” with its cash reserves, but if the government asked him to be IPO-ready tomorrow, he would have to do it.
He said Emirates’ cash reserves would be revealed during the airline’s financials next month, which comes on the heels of “another record-breaking year.”
Speaking at the ongoing Arabian Travel Market, Sheikh Ahmed also hinted that the airline could be considering a new order at the Dubai Airshow. Emirates currently has 261 aircraft and over 300 on order to join the fleet.
With the airline’s full-year results for 2024-2025 to be announced next month, Sheikh Ahmed also spoke about Emirates’ approach to the market volatility stemming from US tariffs, admitting there had been some disruptions on the cargo side, but he expected 2025 to be another good year for the company.
While many airline analysts have predicted that a US-China trade war could prove beneficial to Gulf carriers, with the Asian giant refusing to take delivery of Boeing aircraft, Sheikh Ahmed said the dynamic is not as simple as it looks.
“Would there be a market for such aircraft? Maybe. But we must remember these aircraft were kitted out for Chinese airlines, and Boeing will not sell them to us at half the price. Retrofitting will be an expensive prospect,” he said.
(Reporting by Bindu Rai, editing by Seban Scaria)
