Dubai’s ruler has pledged to financially protect state-owned airline Emirates from the fallout of the coronavirus pandemic.
The head of the Gulf state committed to injecting funds into one of the world’s largest long-haul carriers.
Emirates, which suspended most passenger operations last week, has temporarily cut staff wages by as much as half due to the impact of the coronavirus outbreak.
It only operates international flights, with most passengers transiting through Dubai.
Crown prince Sheikh Hamdan bin Mohammed al-Maktoum wrote on Twitter: “The Government of Dubai is committed to fully supporting @Emirates at this critical time and will inject equity into the company.
“Our national carrier positioned Dubai as a 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.”
He added that the state was renewing its commitment to “support `a success story that started in the mid-1980s to reach its goal of sitting on the throne of global aviation”.