Adds particulars from assertion
DUBAI, June 15 (Reuters) – State-owned Emirates stated on Tuesday Dubai was dedicated to supporting it by way of the coronavirus disaster after the airline’s holding firm plunged to its first annual loss in over three a long time.
The Dubai authorities has injected $3.1 billion into Emirates because the onset of the pandemic, the airline group stated in its annual report. It disclosed a $2 billion fairness injection final yr.
Emirates airline made a 20.28 billion dirham ($5.52 billion) loss for the yr, whereas the group recorded an annual lack of 22.1 billion dirhams, its first in 33 years.
The airline, one of many world’s largest previous to the pandemic, noticed income plunge 66.4% to 30.9 billion dirham as passenger visitors plummeted 88.3% to only 6.5 million
“”Nobody is aware of when the pandemic can be over, however we all know restoration can be patchy,” Emirates Chairman Sheikh Ahmed bin Saeed Al Maktoum stated in an announcement.
(Writing by Alexander Cornwell; Modifying by Jason Neely and Muralikumar Anantharaman)
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