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Emirates to make stock market debut?

Dubai is considering an initial public offering (IPO) of Emirates, according to CEO Tim Clark.

According to a report by Reuters, the Dubai government is looking to list 10 state-backed companies on the local stock exchange, including Emirates.

A AED2 billion ($545m) market maker fund would be established to encourage trading activity.

“Yes, there has been talk about it,” Clark is quoted by Reuters in response to the possibility of an IPO.

“Yes, there has been, perhaps a little bit more flesh on the whole subject than there has been in the past,” he added.

“I’m waiting instructions as to how this is going to affect the Emirates Group. What the government of Dubai decides to do…is up to them, I would basically do as I am bid.”

Despite Emirates suffering a loss for 2021, Clark expects the airline to break even or make a profit in 2022.

“I am very pleased to say we have returned to profitability already, over the last six, seven weeks, we’ve been profitable,” he said.

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