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Emirates Airline repays in full a $1B bond raised in 2011

by June 9, 2016 General

DUBAI, United Arab Emirates (AP) ” The Middle East’s biggest carrier, Emirates Airline, says it has repaid in full a $1 billion bond that had been raised five years ago.

The Dubai-based airline said in a statement Thursday that it had paid the bond on its maturity date of June 8 with its own cash resources. The company says it’s also repaying another bond, raised in 2006, of 150 million Singapore dollars ($111 million) later this month.

Emirates says that by end of this month, the company will have repaid six bonds in the last five years totaling $2.84 billion.

The airline announced in May it had posted profits of $1.9 billion with revenues of $23.3 billion for the 2015-2016 fiscal year. Its hub at Dubai International Airport is the world’s busiest for international passengers.

This story has been automatically published from the Associated Press wire which uses US spellings