Tag: Dubai UAE
Emirates to get financial aid from Dubai govt, as airlines struggle globally
Dubai has promised financial assistance for state-owned carrier Emirates as various international airlines look for government bailouts amid the corona virus pandemic. The government will inject new equity into the carrier, one of the world’s leading long-haul airlines, during this “critical period”, Sheikh Hamdan bin Mohammed Al Maktoum, the crown prince, said in a statement, according a Financial Times report. Dubai is the latest government to intervene in the sector reeling from the coronavirus pandemic. The global airline industry will burn through $61bn of their cash reserves during the second quarter of this year, according to the latest forecast from ... Read more