Emirates Airlines gets $2 billion injection from government

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The government of Dubai has injected 7.3 billion dirhams ($2 billion) in new equity into Emirates airline since March, according to a bond prospectus seen by Reuters.

Dubai Crown Prince Sheikh Hamdan bin Mohammed al-Maktoum said in March the government would inject new equity into Emirates to help it survive the coronavirus pandemic, though no such injection has since been announced.

Earlier this month, Emirates and Etihad were reported to have askedcabin crew to take unpaid leave from next month.

In the wake of the global pandemic, the United Arab Emirates-based airlines have already cut thousands of jobs.

Emirates, Etihad Airways and Qatar Airways – are amongst the best known airlines in the world and amongst the biggest rivals. COVID-19 epidemic only exemplified this rivalry, as each airline strived to announce a return to their pre-pandemic destinations.  

AerotimeHub reports that at the beginning of the pandemic, Etihad Airways announced the suspension of their passenger services. A day later, Emirates airline operated their last pre-lockdown flight. For these two, the next months were full of cargo hauling and occasional repatriation flights, mostly employing airliners as impromptu transporters.

Qatar Airways went the other route. They reduced flight numbers by over two-thirds, but did not stop operations altogether, using remains of scheduled flights to fly home people who got stranded abroad, bring medical supplies and haul cargo – and sometimes, all of this together.

As a result, come April, the airline proudly announced briefly becoming the world’s biggest airline, accounting for 17.8% of the global market. 

Reuters AeroTime Hub

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