Emirates Says Aircraft Retrofit Program Now Pushing $5 Billion

(Bloomberg) — Emirates President Tim Clark said the company is spending close to $5 billion in cash to retrofit existing aircraft like the Airbus SE A380 jumbo or the Boeing Co.’s 777 to bridge delays with new models on order, particularly from the US manufacturer.

“We’ve had to take control of our own destiny,” Clark told journalists at a meeting in Berlin on Wednesday. “I could see the problems on the horizon, so we took the decision then, and thank God we did.”