Emirates airline received AED 7.3 billion ($2 billion) from the Dubai government to bridge the capital crises caused by the Covid-19 pandemic. The government provided the aid to their flagship airlines after Dubai’s crown prince in March promised investment to Emirates to see it through the crisis. However, no such news has been announced publicly by the government or by the airlines.
Also read: Emirates To Operate Special Flights To Five Cities In India
The Department Of Finance Refused To Comment On This Deal
The details of this deal were disclosed in a plan for possible bond issuance by the Dubai government. When a leading news agency asked the department of finance about it, they declined to comment on it. Emirates airline also hasn’t responded to this news. In May, it had planned to raise debt to manage the impact of the pandemic, and it raised AED 4.4 billion in the first quarter. However, the cabin crew were asked to take voluntarily unpaid leave this month.
Coronavirus Hits Aviation Industry Hard
Coronavirus pandemic has hit the economy hard. While many industries have suffered the losses, it’s the Aviation industry that has suffered majorly. With travel taking a back seat, Aviation has been one of the worst-hit during the pandemic. To deal with the crisis, airline industries are now giving unpaid leave to their employees and have also cut thousands of jobs to manage the situation. And the Emirates airline is no different. Emirates has cut thousands of jobs to deal with the crisis. This month it asked the cabin crew to take voluntary unpaid leave. The redundancy process that began in July is continuing, with more staff laid off this month. And in aid to revive the losses, Emirates resumed flights to a whole lot of countries and announced the resumption of passenger services to Bangkok- the world’s most visited city, with daily flights starting this month.
Also read: Emirates To Resume Flights To Lusaka From 4 September
The resumption of flights to Bangkok will expand Emirates’ current network to 78 cities in September, offering travellers in Europe, the Middle East, Africa and Asia Pacific convenient connections via Dubai to the popular Thai destination.