By 2014, Singapore Airlines had phased out the type, discontinuing SQ21 and SQ22, which had been the longest non-stop scheduled flights in the world. Emirates Airlines decided to accelerate the retirement of its A340 fleet, writing down the value of the A340-500 type to zero despite the oldest -500 only being 10 years old, with president Tim Clark saying they "designed in the late 1990s with fuel at $25-30. They fell over at $60 and at $120 they haven’t got a hope in hell".