It now seems that Emirates Airlines could be a possible bargaining chip in Dubai’s attempt to get over its mountain of debt. Economists at the French Bank, Societe Generale, have said that Dubai might have to offer Emirates as collateral in order to ensure a bailout for neighbor Abu Dhabi.

They go on to suggest that this could happen by merging with Abu Dhabi’s Etihad Airways. Vivek Tawadey, head of credit portfolio strategy at BNP Paribas, said that it could be Emirates Airlines on the table. After all, this is one of Dubai’s crown jewels, because it has a very strong market reputation, and it also acts as a bub between Asia, the Middle East and Europe.

Emirates Airlines is owned by the Investment Corporation of Dubai, which is in turn controlled by the Dubai government, as is Dubai World. Of course, Dubai World is the source of the current financial crisis that everyone is hearing so much about.

Maurice Flanagan, the Emirates Airlines boss, said that Dubai is unlikely to sell Emirates to help raise funds or to allow a merger. The company also has no plans to join any other global airline alliance at this time. Etihad Airways has also denied any talks of a merger with Emirates.

Emirates Airlines is one of the world’s few international airlines that is profitable, posting a net profit of £163 million after carrying 22.7 million passengers last year. Markets across the world are stabilizing as Dubai World enters into talks to restructure its debt pile. However, more information will not be known until the talks are finally complete.