Coronavirus: Dubai government to inject equity to Emirates amid travel shutdown
The Government of Dubai will support Emirates with an injection of equity as the airline suffers during the coronavirus crisis, Dubai Crown Prince Sheikh Hamdan bin Mohammed al-Maktoum said in a Tweet on Tuesday.
The coronavirus has prompted governments around the world to ban travel to combat the spread of the deadly disease. The UAE suspended all passenger flights in and out of the Gulf Arab state last week for a two-week period.
“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,” the Crown Prince said in a Tweet.
.@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. pic.twitter.com/wdcrn2trO9— Hamdan bin Mohammed (@HamdanMohammed) March 31, 2020
The coronavirus, officially known as COVID-19, has infected 611 people in the UAE, with five fatalities. Sixty-one have so far recovered.