EMIRATES was honoured with aviation’s top finance award when it was recognised as ‘2003 Airline of the Year’ at the 5th Annual Deal of the Year Award, held during the 24th Annual New York Airfinance Conference.
The award, from international magazine Airfinance Journal, which is published in London, is the only global aviation award to recognise financial performance.
The event capped a two-day conference attended by hundreds of airlines, bankers, financial decision-makers, regulators, lawyers, consultants and manufacturers. It gave Emirates an opportunity to underscore its first-ever North American route, starting from this month as ultra-longhaul Airbus A340-500 jets fly daily nonstop services between Dubai and New York.
Alasdair Whyte, managing editor of Airfinance Journal said: “Emirates’ financial achievements in 2003 were simply phenomenal. On the treasury side, Emirates completed a string of innovative and landmark financing deals. It also made a record profit in what was the toughest year in global aviation history.”
Riyaz Peermohamed, senior vice-president, corporate treasury for Emirates Group, said: “With a record-breaking $26 billion in new aircraft on order, Emirates’ fleet will double to more than 130 jets in just eight years to accommodate rapid expansion to the world’s major gateways, including New York and other US cities. Innovative financing and steadfast credibility with a wide range of regional and international resources have been, and will continue to be, critical to supporting this growth.” Peermohamed also presented an Emirates case study during a seminar at the conference. Emirates’ fleet of 67 wide-bodied jets is one of the youngest in the skies, with an average age of approximately four years.