Emirates won the ‘ Middle East & Africa Airline of the Year ‘ Aviation 100 awarded by the Airline Economics magazine. The Aviation 100 awards honor the most outstanding commercial aviation performers as well as the most creative and profitable financing and leasing deals concluded over the past 12 months. The awards took place during the 2019 conference gala dinner of the Airline Economics Growth Frontiers Dubai.
Emirates and its financing partners also received the ‘ Aviation 100 Middle East & Africa Supported Finance Deal of the Year for 2019, ‘ which resulted from the financing of two Emirates A380 aircraft, the first A380 Bpifrance (French Sovereign Fund) Assurance Export supported financing, which also combined a commercial tranche provided by Korean investors structured and purchased from EMP capital. This is the first large volume transaction that was closed by European Export Credit Agencies post the cessation of cover and the very first A380 Bpifance Assurance Export backed financing for several years.
Nirmal Govindadas, senior vice president of Emirates, Corporate Treasury, said: “Together with our financing partners and ECAs (Bpifrance, Euler Hermes and UK Export Finance), we are actively searching for strong and creative opportunities to finance our growing aircraft fleet in the global markets. The truly global combination of financing parties from Canada, France, the UK, Germany and South Korea underscores the confidence of international investors in Emirates‘ strong track record as well as our resilient and profitable business model. Such innovations are a testament to the ability of Emirates to raise funding in a challenging economic environment.”
Aviation 100 awards recipients are determined by rigorous vetting, industry-wide surveys, and editorial deliberation. The Emirates Aviation 100′ Airline of the Year ‘ award was won based on the pole position of the airline as the world’s largest international carrier, a strong network, and continuing fleet and service upgrades.
The Emirates network has expanded in 85 countries and territories to 158 destinations. Through adding three A380 planes, the carrier has increased its fleet so far in 2019. Emirates launched Porto in July this year and will begin services to Mexico City in December via Barcelona. Emirates also expanded its frequencies across fifteen destinations and increased capacity to ten cities.