Business | Aviation
Emirates management is ready for IPO
The management of Emirates is ready to work with an IPO should the government of Dubai, the owners of the airline, decide to go for such a route.
- By Francis Matthew, Editor at Large
- Published: 23:33 January 26, 2008
Davos: The management of Emirates is ready to work with an IPO should the government of Dubai, the owners of the airline, decide to go for such a route.
"The government has indicated that it might consider an IPO of between 20 and 30 per cent of the total value of the company, and we will be able to work well within that plan," Maurice Flanagan, executive vice-chairman of Emirates Group, told Gulf News.
The comment came after a news report stating that the possible sale of shares in Emirates "might harm the company by hampering decision-making" according to the company's senior managers.
Confident
"We are confident of continuing success and steady expansion," said Flanagan. "Any future IPO will allow us to continue to grow and remain profitable."
Emirates management indicated last November that the company might sell as much as 30 per cent to the public.
The sale of 30 per cent could raise $9 billion, overtaking the $4.6 billion November IPO of 23 per cent of Dubai port operator DP World as the Middle East's biggest initial offering.
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