Business | Aviation
Emirates and Dnata now under ICD
The government of Dubai has transferred ownership of Emirates airline and air travel services firm Dnata to state-owned Investment Corporation of Dubai (ICD), Emirates said yesterday.
- Reuters
- Published: 23:46 December 30, 2008
Dubai: The government of Dubai has transferred ownership of Emirates airline and air travel services firm Dnata to state-owned Investment Corporation of Dubai (ICD), Emirates said yesterday.
"We can confirm that ownership of Emirates Group Decree Companies which include Emirates and Dnata have been transferred to the Investment Corporation of Dubai under official decrees ... " a spokesman for the airline said, without stating a reason for the move.
It was not immediately clear if the decision might be linked to a move towards privatising the larg-est Arab airline or selling a stake in it.
"The transfer does not affect the management structure nor any of our contracts with employees, suppliers or other third parties.
"It is business as usual," the spokesman said.
"Emirates Group Decree Companies continue to be wholly owned by the government although now indirectly through the Investment Corporation of Dubai."
Meanwhile, Emirates airline received its fourth A380 superjumbo yesterday as manufacturer Airbus achieved its 2008 target of 12 A380 deliveries.
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