Dubai: Emirates’ Group Vice-Chairman Maurice Flanagan said, there’s been a ‘hate Dubai week’, gauging by the global media coverage on Dubai World debt restructuring and Dubai will navigate itself out of the situation soon.
“It has been a ‘hate Dubai week’ – I hate to say, especially the way the international press has portrayed the emirate,” Maurice Flanagan told Gulf News.
“I’m confident that Dubai will steer out of the situation soon and there will be more sensible news coverage in European, especially the British press.”
Flanagan, who helped Dubai Government launch Emirates Airline in 1985, says his airline will not be affected by the current situation which has pushed credit default swap up – as borrowing could become more expensive. A fair number of aircraft in Emirates fleet have been financed by banks.
“I do not see that happening to us as we have a strong balance sheet and, even in the economic downturn, we made profits,” he said.
“We just announced our first half results which is very good and our second half results will even be better.”
