June 16, 2021
DUBAI (AFP) – Dubai-based Emirates airline yesterday posted a USD5.5 billion annual loss, its first in more than three decades, after the coronavirus pandemic devastated the aviation industry.
The carrier said it received a capital injection of USD3.1 billion from its owner, the government of Dubai, to help it survive the crisis.
The Emirates group was “hit hard by the drop in demand for international air travel as countries closed their borders and imposed stringent travel restrictions”, said Chairman and Chief Executive Officer Sheikh Ahmed bin Saeed Al Maktoum.
“No one knows when the pandemic will be over, but we know recovery will be patchy,” he said in a statement.
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