Dubai's Emirates to spend $10bn a year to expand fleet

Emirates, the Arab world's largest airline, will spend about $10bn a year to fund its fleet expansion over three years but is not under pressure to tap the bond market, a senior official said.

The Dubai government-owned carrier, which expects to receive about 30 aircraft a year for the next three, dropped plans for a bond to finance expansion after political unrest in the Middle East made rates more expensive.

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