Dubai Vows to Inject Funds Into Emirates

Dubai Crown Prince, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has vowed that Dubai will inject funding into Emirates amid the ongoing coronavirus pandemic.

According to the UAE’s state-run WAM news agency, the move to inject liquidity to the company is a reflection of “its strategic importance to the Dubai and UAE economy; also the airline’s key role in positioning the emirate as a major international aviation hub”.

“the government of Dubai is committed to fully supporting Emirates at this crucial time and will inject liquidity into the company”.

Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum

Today, we renew our commitment to support a success story that started in the mid-1980s to reach its goal of sitting on the throne of global aviation. The Government of Dubai is committed to fully supporting @Emirates at this critical time & will inject equity into the company. pic.twitter.com/3cabmUDOVD

— Hamdan bin Mohammed (@HamdanMohammed) March 31, 2020

Travel restrictions, imposed as a result of the coronavirus pandemic, forced Emirates to suspend passenger operations earlier in March, as well as cut staff wages.

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Further details of the government plan to inject funds into the airline will be announced “at a later stage” WAM reported.