Emirates, the Dubai-based international airline equipped with one of the most modern fleets in the world, has now received its entire order of Airbus A340-500s with the arrival of its 10th A340-500 aircraft.

Emirates has invested close to $2 billion (approximately Lm720 million) (gross order value) for the acquisition of its A340-500 fleet. The financing has been obtained from well diversified sources comprising 29 per cent from European banks, 10 per cent from Islamic sources, 24 per cent from commercial banks within the GCC and 37 per cent from commercial banks outside the GCC – a substantial portion of which came from banks in Japan and China.

Emirates’ fleet currently stands at 81 aircraft and comprises 29 Airbus A330-200s, 12 Boeing 777-300s, nine Boeing 777-200s, 10 Airbus 340-500s, eight A340-300s, five Boeing 777-300ERs, one Airbus A310, one Airbus A310F and six Boeing 747 freighters.

Emirates’ fleet, with an average aircraft age of only 56 months, reflects the airline’s business strategy of focusing on medium and long-haul routes. The airline has constantly upgraded its fleet to include aircraft with more capacity and a longer range.

Emirates also has firm orders for 30 Boeing B777-300 Extended Range, of which five are already in service, and the remainder will join the airline’s rapidly-expanding fleet by the end of 2007.

Today, the airline operates its A340-500 aircraft on routes to Sydney-Christchurch, Melbourne-Auckland, Osaka and New York. The introduction of the 10th A340-500 aircraft has allowed Emirates to operate its second daily service to New York, as from 16 November.

The airline’s impressive order book, worth almost $30 billion (approximately Lm11 billion) in list prices, consists of orders for 92 aircraft including 45 Airbus A380-800s (including two A380Fs), 25 Boeing 777-300ERs plus nine options, two A310-300Fs and 20 Airbus A340-600 Higher Gross Weight aircraft.

Emirates flies from Malta to Larnaca in Cyprus and onwards to Dubai four times a week, on Mondays, Wednesdays, Fridays and Sundays, using an Airbus A330-200 with a freight capacity of 13 tonnes each way.