Emirates got $2b from Dubai to survive crisis months

Dubai’s government has put 7.3b dirhams ($2b) into Emirates since the coronavirus pandemic brought global air travel to a near halt in March and said it’s prepared to send more help to its flagship airline. The state indicated earlier in the year it was committed to providing financial support to the world’s largest long-haul carrier, and a bond prospectus seen by Bloomberg shows the extent of the aid provided over the past five months. “Any further support will be subject to the airline’s requirements and will depend on the impact and duration of the ongoing Covid-19 situation,” according to the document. Emirates was particularly hard hit by the pandemic because its business model is built around the biggest category of jets carrying passengers between all corners of the globe. Long-haul travel is widely expected by the industry to be the slowest to recover from the crisis as passengers shy away from lengthy journeys and virus hotspots. Emirates resumed some regular passenger flights on May 21 after suspending most trips for almost two months. The airline expects to increase its network to 80 destinations in September, COO Adel Al Redha said earlier this month, with service to all destinations by 2021.<br/>