Emirates to start paying back Dubai for its $4B lifeline
DUBAI, United Arab Emirates (AP) — Long-haul carrier Emirates plans to use projected profits from this fiscal year to pay back the Dubai government for some of the roughly $4 billion it pumped into the beleaguered airline during the height of the coronavirus pandemic.
The cash infusion provided a lifeline to one of the world's biggest airlines at a time when travel had come to a near standstill globally due to COVID-19.
The airline's CEO and chairman told reporters on Tuesday that the Dubai-based airline expects to see profits this year and will use those earnings to pay back its shareholder, the government.
The airline's success is seen as integral to the health of Dubai’s economy.
