Sheikh Ahmed says Emirates was never part of the Abu Dhabi bail out deal

"We never really talked in any way about any of our strategic companies with Abu Dhabi," Sheikh Ahmed told the newsagency. "I know it's always been the rumor."

Abu Dhabi has been widely reporting as ‘bailing out’ Dubai with $15 billion of financial assistance to help ease a $26-billion debt that rocked the financial stability of the Gulf States in the world’s financial market.

Many pundits questioned what Dubai would offer Abu Dhabi in return for the cash, with prized assets like Emirates Airline thought to be part of negotiations.

"When you think about what Emirates has achieved I think anyone would want to have equity in it," Sheikh Ahmed told Dow Jones.   "It's a very successful business for Dubai."

Emirates Group is one of Dubai's most prized assets and one of the fastest growing airlines globally. The carrier indirectly contributes in the region of AED40 billion ($10.89 billion) to Dubai's economy each year and is key to the emirate's success story.

"If it wasn't for Emirates, this market wouldn't have been able to grow as it has. It's a huge contribution," Sheikh Ahmed said, highlighting the economic benefits to the emirate of a group that employs over 32,000 in Dubai.

The carrier currently operates a fleet of close to 150 wide-body aircraft, including eight A380s. It has a further $55 billion of orders with Airbus and Boeing and plans to increase this order.

"We're in talks with Boeing and Airbus," Sheik Ahmed said. "We're looking at buying more aircraft maybe as much as ten—either 777 or A330s."

Sheikh Ahmed said that despite the global financial crisis, Emirates hasn't had any problem securing aircraft deals.

The chairman did not rule out the possibility of Dubai selling shares in an initial public offering to help finance aircraft, and said that any offering would be well received.

"I think maybe one day," he said. "If Emirates decided to IPO I'm sure it will be good, especially if it's placed within the U.A.E. stock markets."