(TAN): The Dubai government will provide funding to state-owned airline Emirates to help the company amid the coronavirus outbreak, reports said.
According to reports, Dubai’s crown prince, Sheikh Hamdan bin Mohammed Al Maktoum declared the move, adding that the government is “committed to providing full support” to the airline.
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“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,” his tweet said.
However, the details of the financial assistance has not yet been disclosed, as per reports.
“Emirates our national carrier, positioned Dubai as an global travel hub and has great strategic value as one of the main pillars of Dubai’s economy, as well as the wider economy of the UAE. We will announce further details about the equity injection and more measures soon,” the crown prince said in another tweet.
Chief Executive Officer and Chairman of Emirates Group, Sheikh Ahmed bin Saeed Al Maktoum reportedly said the business was suffering because of the crisis.
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“Our business is taking a hit, but what matters in the long run is that we do the right thing for our customers, our employees, and the communities we serve,” Al Maktoum was quoted by Flight Global as saying.
Emirates has reportedly cut salaries for its employees for three months, after it suspended passenger flight operations amid travel restrictions. As per reports, the President of Emirates will take a full basic salary cut for those three months.
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