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Emirates shares could be placed for IPO, says chairman

Emirates chairman, Ahmed Al Maktoum did not provide a specific timeframe for the potential IPO (Image - WAM)
By TRENDS Desk
May 11, 2022 11:36 pm
  • The chairman noted that the decision to sell shares to the public is up to the government of Dubai
  • The potential IPO will be an extension of an ongoing share-sale spree of government-owned entities

An initial public offering of Dubai’s state-owned airline Emirates may happen in the future, the flagship carrier’s chairman Ahmed Al Maktoum said.

“I’m sure that maybe sometime in the future Emirates will be in the market,” Al Maktoum said, without providing a specific time frame.

The chairman noted that the decision to sell shares to the public is up to the government of Dubai.

The potential IPO will be an extension of an ongoing share-sale spree of government-owned entities, including Dubai Electricity and Water Authority, road-toll operator Salik, and Empower.

Al Maktoum was also reported to have announced plans by Emirates to repay 15 billion dirhams ($4.1 billion) in pandemic-related support to the government — its shareholder.

He added that payments will be in the form of dividends to the government during the ongoing fiscal year, according to media reports.

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