Dubai’s government has put AED7.3 billion ($2 billion) into Emirates since March to help its flagship airline sustain operations during the coronavirus pandemic.
The state indicated earlier in the year it was committed to providing financial support to the world’s largest long-haul carrier, and a bond prospectus seen by Bloomberg shows the extent of the aid over the past five months.
“Any further support will be subject to the airline’s requirements and will depend on the impact and duration of the ongoing Covid-19 situation,” according to the document.
The state indicated earlier in the year it was committed to providing financial support to the world’s largest long-haul carrier, and a bond prospectus seen by Bloomberg shows the extent of the aid over the past five months.
“Any further support will be subject to the airline’s requirements and will depend on the impact and duration of the ongoing Covid-19 situation,” according to the document.
Emirates was particularly hit by the pandemic because its business model is built around the biggest category of jets – Airbus A380s and Boeing 777s – carrying passengers between all corners of the globe.
Long-haul travel is widely expected by the industry to be the slowest to recover from the crisis as passengers shy away from lengthy journeys.
The figure was earlier reported by Reuters
