UAE gov’t injects $2bn into Emirates

The government of the emirate of Dubai pumped AED7.3 billion dirhams (USD2 billion) into Emirates (EK, Dubai Int’l) earlier this year, Reuters has reported citing a bond prospectus. While the government has previously pledged that it would aid its flag carrier, the specifics of the capital injection – or indeed, its existence – were not disclosed. The government also pledged further support if needed. Emirates disclosed the injection in a prospectus for a separate bond issuance. In the first quarter, the airline secured AED4.4 billion (USD1.2 billion) and is currently seeking more funding. The amount sought was not disclosed. Meanwhile, the carrier said in a press release that as its efforts to restore some semblance of normal operations continue, it has reactivated its one-way partnership with sister carrier flydubai (FZ, Dubai Int’l) effective immediately, allowing for smoother connections via Dubai Int’l. “The two Dubai-based airlines have revived their successful and strategic partnership to offer customers increased connectivity, convenience and travel flexibility. Emirates customers can now travel on codeshare flights to over 30 destinations on flydubai, while flydubai customers have over 70 destinations they can travel to on Emirates,” the airlines said.