Emirates Airlines has announced that its employees are getting their full payments by October after its salary cut implementation in March due to Covid-19 outbreak. The Dubai government has provided a bailout loan of USD 2 billion (AED 7.3 billion) to Emirates for helping the company function in this worst time of pandemic. This will help Emirates employees to get out of the worse condition caused by Coronavirus.
Almost all the fields are adversely affected by the pandemic due to low demand, strict national and international borders regulations and physical distance. Emirates along with all airline companies are worst affected by the virus spread. Emirates also had to stop almost all flights and cut off employees’ remuneration in March. The company also requested employees to take unpaid leave between September 1st to November 30th to manage the costs. In July, Emirates had revealed that it has already cut 10 percent of its staff and might reach up to 15 percent. Hundreds of cabin crew had also lost their jobs within this period. Emirates only had more than 60,000 staff.
Prince Sheikh Hamdan bin Mohammed Al Maktoum has officially tweeted in March : “Today, we renew our commitment to support a success story that started in the mid-1980s to reach its goal of sitting on the throne of global aviation. The Government of Dubai is committed to fully supporting @Emirates at this critical time & will inject equity into the company.”
He also added “.@Emirates, our national carrier, positioned Dubai as an 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.”
As per the indication, the Dubai government supported the Emirates, although it’s not enough for a large company like Emirates as it depends on international travel and long distance carriers. Still, it is an appreciable move to save the huge business at this difficult time. The whole global airlines may still need to wait till 2024 for the full recovery in the sector as per to the International Air Transport Association (IATA). Emirates has also resumed back to track slowly, the carrier is expected to take over 100% by next summer flying all over 143 destinations.