Emirates introduced 35 long-haul jets over full year

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...
By
Published: May 12, 2017

Middle Eastern carrier Emirates received 35 long-haul aircraft over its 2016-17 financial year, as its fleet modernisation removed the Dubai-based airline’s last Airbus A330s and A340s.

The airline describes its long-haul renewal as a “record”, adding that it included 19 Airbus A380s and 16 Boeing 777-300ERs.

“This has been the largest number of deliveries we have received in a financial year,” says the operator.

It adds that it raised Dhs29.1 billion ($ 7.9 million) to finance the 35 aircraft, with structures including Japanese operating leases and taking advantage of investor bases in Korean, the UK, Germany and Spain.

Emirates adds that it overcame the suspension of export credit agency support by structuring an “innovative” commercial bridge of Dhs4.4 billion with US and Chinese institutions.

As a result of the expansion – as well as the full-year effect of 31 aircraft taken on operating leases in the previous year – the airline’s operating lease charges increased by 30% to Dhs2.4 billion in 2016-17.

Over the period it cut 27 older jets from the fleet – among them the last A330s and A340s in January – leaving it with 259 aircraft, including 15 freighters.

The changes increased the airline’s capacity by a net 7.2%, it says, and leave Emirates as an all-A380 and 777 operator.

During the year the airline expanded its A380 network to 47 destinations, and the carrier says it uses the type to serve 30% of the cities on its network.

Emirates’ renewal has reduced the average fleet age to 63 months, from the level of 74 months during 2015-16. The airline claims the industry average is 140 months.

news

Tagged with: , , , , , ,

Email This Post Email This Post