“Emirates Airline and Group celebrated the listing of a $913m sukuk (Islamic bonds) in Dubai’s stock market early Wednesday,” Daily News Egypt reports.
“The listing brings the total value of Sukuk listed on Dubai’s exchanges to $34.96bn,” the company said in an official statement. The company added that this “reinforces Dubai’s position as an international centre for Sukuk activity and underlines its growth as the global Capital of the Islamic Economy.”
This is the first time sukuk were used to finance and pre-fund the acquisition of the company’s A380 aircraft, Sheikh Ahmed Bin Saeed Al-Maktoum, the company’s chairman and CEO said. In March 2013, the airline listed $1bn in sukuk in NASDAQ Dubai, Daily News Egypy noted.
Emirates is an airline based in Dubai, United Arab Emirates. The airline is a subsidiary of The Emirates Group, which is wholly owned by the government of Dubai’s Investment Corporation of Dubai. It is the largest airline in the Middle East, operating over 3,300 flights per week from its hub at Dubai International Airport, to more than 144 cities in 78 countries across six continents.
Emirates is the world’s biggest international carrier, the seventh largest airline in the world in terms of revenue, and the largest airline in the Middle East in terms of revenue, fleet size, and passengers carried. The airline is also the fourth-largest airline in the world in terms of international passengers carried according to Wikipedia.