2023-05-02 16:39:45
Tim Clark, President of Emirates Airlines (Archyde.com)
Fly Emirates
We have a good business model that generates a lot of liquidity
Emirates Airlines President Tim Clark said that the company was able to strengthen its balance sheet and has more cash flows than it had in the past, and the financial results are better than ever.
Clark added, in an interview with Al Arabiya, during the Arabian Travel Market exhibition, that “one of the things that we have been able to do over the past two years after the difficult times of the pandemic is to strengthen our balance sheet.”
He stated that some of the aircraft that had commitments had been completed, and that was costing too much.
Clark continued: “The result is that we have been able to build cash flow on our balance sheet that will show in our financial results next week. We intend to do more of that and then we will have to go into the debt markets to finance large numbers of these aircraft.”
It’s something we’ve done a lot in the past.”
And the head of Emirates Airlines said that the group did not face a problem in providing liquidity to build its fleet, adding: “We have a very strong balance sheet as you will see. We have a good business model that is very profitable and achieves a lot of liquidity now, any investor, any bank or even any lessor will look at that.” He says I want to share it
And this is Emirates, we haven’t defaulted on anything, even during the pandemic.”
Clark noted that when the debts on these planes were one way or the other, they were 100 percent obligated.
As for the expected financial results, Clark stated: “It’s a good story, much more than we had before and compared to before the pandemic, we’re doing better than ever.”
And earlier in the day, Clark said, the company still has problems re-routing the “remaining” of the “A380” aircraft in the post-pandemic stage.
He added that the company has orders for 165 aircraft and may order more later. He also indicated that demand will remain as strong as it was, according to Archyde.com.
He pointed out that the supply chains will respond to demand and may reach in the middle of next year almost to their normal state.
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