Emirates, the No. 1 airline on international routes, is interested in buying the world’s leading inflight catering business from Deutsche Lufthansa AG, the head of the Dubai-based company’s Dnata services arm said.
Emirates, investing in a wide-body jet fleet including 90 Airbus SAS A380 superjumbos worth $34 billion at list prices, said financing the planes isn’t a concern and that it’s fully funded through July 2012.
An early 1970s photo in a Huntsman Corp. annual report shows a smiling young Jon Huntsman Jr. holding a dozen eggs in polystyrene packaging, an innovation that helped make a fortune for the family business.
Emirates, the world’s biggest airline by international traffic, needs more than $28 billion through 2017 to expand its fleet of Boeing Co. and Airbus SAS jets, almost double the amount raised since 1996.
Emirates will repay a $500 million bond due in March if it doesn’t get “attractive” terms in a refinancing deal because the biggest Arab airline is sitting on $3.4 billion of cash, President Gary Chapman said.
Emirates, the biggest Arab airline, said it expects to fly 15 percent more passengers this year after reporting a more than fivefold jump in annual profit on cost cuts, lower fuel prices and productivity gains.
Huntsman Corp. reported a power failure at its Port Neches, Texas, chemical plant that caused operating unit outages across the site, according to a filing with state regulators. Power has been re-established, according to the report.