The concession is worth $1.3 billion
Emirates is set to receive its first Airbus A350 aircraft in October, with a total of 5 Airbus aircraft expected to be delivered to the airline by the end of this year.
Adel Alredha, Deputy President and Chief Operations Officer — Emirates Airline, said on the sidelines of the first edition of Dubai AI and Web3 Festival that the airline will receive 5 Airbus aircraft by the end of December this year, while no Boeing aircraft have been received so far.
He added: ''Due to delays in aircraft deliveries, we have had to extend the service of some of our current aircraft.''
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Alredha also mentioned the company's aircraft modernisation programme and Emirates' commitment to providing the best customer experience, noting that the aircraft retrofit programme covers 190 aircraft, following an increase in the number of aircraft targeted for modernisation, according to a plan that costs over $3 billion.
Alredha explained that the delivery challenges date back years, as many companies involved in aircraft manufacturing were affected during the Covid-19 pandemic, either by reducing production or laying off a percentage of their workforce. As a result, he continued to say, after the pandemic ended, the demand for air travel was very high, exceeding these companies' ability to meet market demands and reorganise their operations effectively.
The concession is worth $1.3 billion
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The CBUAE explained that banks' capital and reserves do not include subordinated borrowings/deposits, but do include the current year's profits