Emirates Received Aid from Dubai Government
Posted on 09/01/2020
Emirates is the flag carrier airline of the United Arab Emirates. The airlines received 7.3 billion AED (US$ 2 billion) from the government of Dubai, as the airlines, like many others, faced a cash shortage due to the COVID-19 pandemic. The disclosure was revealed in a bond prospectus. Emirates already started the process of layoffs to maintain entity liquidity. Furthermore, Emirates is in talks with The Boeing Company on a redesign of orders for new wide-body jets.