Emirates equipped with one of the most modern fleets in the world, has
received its entire order of Airbus A340-500s with the arrival of its 10th
A340-500 aircraft.Emirates has invested close to USD 2 billion for the
acquisition of its A340-500 fleet. The financing has been obtained from well
diversified sources comprising of 29 per cent from European banks, 10 per
cent from Islamic sources, 24 per cent from commercial banks within the GCC
and 37 per cent from commercial banks outside the GCC - a substantial
portion of which came from banks in Japan and China.
Emirates’ fleet - with an average aircraft age of only 56 months - reflects
the airline’s business strategy of focusing on medium and long-haul routes.
The airline has constantly upgraded its fleet to include aircraft with more
capacity and longer range.
In 1999 the longer-range Airbus A330-200 was introduced in the Emirates
fleet as a replacement for the Airbus A310-300. Likewise the airline soon
added the Boeing 777-200 Extended Range (ER) aircraft - ideal for medium and
long-haul routes - to supplement its Boeing 777-200 fleet. Emirates also has firm orders for 30 Boeing B777-300 Extended Range, of
which five are already in service, and the remaining will join the airline’s
rapidly-expanding fleet by end 2007.
Emirates Group Chairman His Highness Sheikh Ahmed bin Saeed Al Maktoum said:
“The presence of longer range aircraft in our fleet reflects our business
strategy which focuses on medium and long-haul routes. Taking advantage of
the range that such aircraft offer Emirates has successfully redrawn the
world’s air routes, opening up new non-stop services such as Dubai-Australia
and Dubai-North America.”
Sheikh Ahmed added: “The quantum leap for Emirates came when it became the
first airline in the world to operate the ultra-long range Airbus A340-500.
The world’s longest-range, large passenger jet in service, the Airbus
A340-500 powered by four Rolls-Royce Trent 500 engines is able to fly
between any two places on the globe with no more than a single stop.”