Emirates will not splash cash at Farnborough
Emirates Airline president Tim Clark on Tuesday said the airline has no plans to make any new orders at the Farnborough Air Show in July.
He told Dow Jones Newswires that the Dubai-based airline already has dozens of aircraft on order, with its order books to last through 2022.
Emirates had in past announced significant aircraft orders during such air shows.
Clark also ruled out any possibility that the Dubai-based carrier would seek an equity investment in Qantas Airways.
However he said the airline would be open to other types of commercial arrangements, such as codesharing, with the Australian carrier.
"We wouldn't put equity into it. That's not what we do," Clark said in an interview with Dow Jones Newswires.
Earlier this month, Qantas issued a warning signaling its full year profits for 2012 are likely to be 90 percent lower than 2011.
The carrier blamed the decline in global aviation operating conditions, events in Europe and its highest ever fuel bill.
Clark was also quoted by Australian media on Tuesday as saying Adelaide was moving towards the top of the list of new destinations Emirates is hoping to serve.
Emirates currently flies to Sydney, Melbourne, Brisbane and Perth, operating about 70 flights a week into and out of Australia.
Abu Dhabi's Etihad Airways this month acquired a 4.99 percent in Virgin Australia and said it planned to build up its stake in the Australian airline as it looks to compete with its Gulf rivals.
“Our intention is to build up our stake but we need to do it step by step as we need to get regulatory approval,” said CEO James Hogan. “The Australian market is a very strong market for us.”