Emirates announces possible sale of shares.
The chairman of Emirates airline said Tuesday that an initial public offering of the Dubai-based state carrier’s shares is feasible, at a time when the state is trying to boost its local financial market.
Emirates’ Tim Clark told reporters at the Dubai Air Show that a proposal to sell Emirates shares “is out there” after his boss, Emirates chairman Sheikh Ahmed bin Saeed Al Maktoum, commented on the possibility.
Clark said Emirates, long the jewel of state-linked companies that analysts call “Dubai Inc,” is attractive to future investors, AF reported.
“Of course the pandemic has hampered us, but, as you know, Emirates’ profitability is a well-known fact,” he commented. “We will restore that in the next six to eight months. We are already on track to do that.”
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