Dubai Government to inject equity into Emirates
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The government of Dubai has offered its backing to Emirates, and will “inject equity into the company” in order to protect it from the impact of the coronavirus pandemic.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of Dubai, said the airline was vital to the strategic interests of the United Arab Emirates economy. “Dubai is fully committed to supporting Emirates airlines in the current critical period,” he added.
Further details on any financial package will be announced at a later stage.
The Dubai flag-carrier grounded the vast majority of its flights last month in response the global lockdown initiated to fight the coronavirus pandemic.
Emirates is one of the largest airlines in the world, operating the largest biggest fleets of Airbus A380 and Boeing 777 planes. It has been consistently profitable since its launch in 1985.