State-owned Emirates has announced that Dubai would provide help to see it through the coronavirus crisis after it reported losses of $3.4bn (€2.8bn).
Emirates blamed the ongoing global travel restrictions on the loss, which seen revenue drop by 75% to $3.2bn while passenger traffic fell by 95% to 1.5 million.
Emirates’ Chairman Sheikh Ahmed bin Saeed al-Maktoum said: “We have been able to tap on our own strong cash reserves, and through our shareholder and the broader financial community, we continue to ensure we have access to sufficient funding to sustain the business and see us through this challenging period.”
Sheikh Ahmed, who is also a senior member of Dubai’s ruling family and holds senior positions in government, also said that the Dubai government would support the airline on its path to recovery path.
