Emirates Airline Said To Seek Billions In Loans, In Addition To Govt Support
Dubai government last week to shield the Emirates airline with new equity

One of the options being discussed are bilateral loans, which are cheaper, can be agreed quickly and done in smaller tranches compared with syndicated facilities.
Emirates airline is in talks to raise billions of dollars in loans, on top of Dubai’s state bailout for the world’s largest long-haul airline carrier, as the coronavirus pandemic grounds flights.
The carrier is reaching out to local and international banks about the funding that will be in addition to the undisclosed amount of financial aid from the government, according to people with knowledge of the matter, who asked not to be identified because the information is private.
One of the options being discussed are bilateral loans, which are cheaper, can be agreed quickly and done in smaller tranches compared with syndicated facilities, the people said. No final decisions about the borrowing have been made, they said.
A spokesperson for Dubai-owned Emirates declined to comment.
Emirates - an emblem of Dubai’s meteoric rise in the last three decades from a desert outpost into a global business and tourism hub - is being particularly hard hit by the abrupt collapse in air travel as countries lock down to slow the spread of the virus. The government last week said it would step in to shield the airline with new equity.
The airline is the largest of the major Middle East carriers, which also include Qatar Airways and Etihad Airways. All three are state owned, giving them a potential advantage in swiftly securing bailout packages. Emirates, whose fleet consists of all wide-body aircraft, typically operates more than 500 flights a day.
The International Air Transport Association (IATA), which represents 290 airlines around the world, estimates the industry may suffer more than $250 billion in lost revenue this year.
For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.UAEs Maseera Acquires Egyptian Fintech ADVA
The move marks a critical milestone in Maseera’s regional expansion strategy Read more
Oman Mandates IBAN For Domestic Transfers From July 2025
The move follows the Oman Central Bank's implementation of the IBAN system for international transfers from March 31, 2... Read more
Egypt And Jordan Thank The European Parliament For New Financial Aid
The European Union members recently approved loans worth $4.4 billion in three instalments to Egypt and $555 million to... Read more
Standard Chartereds SC Ventures To Replicate Asia, Africa SME Model In GCC
SC Ventures to bring its successful SME building strategy in India, South East Asia and Africa to GCC, and plans to rol... Read more
UAE Central Bank Revokes Licence Of Dynamics Insurance Brokers For Regulatory Breaches
Dynamics Insurance Brokers "failed to comply with the licensing terms and requirements issued by the Central Bank and w... Read more
Eid Al Fitr Holidays In The GCC; Dubais 100 Most Influential People; UAE Petrol Prices To Change; Royal Baby Announced – 10 Things You Missed This Week
Eid holidays, the Dubai 100, UAE petrol prices, Royal Baby named, Palm Jebel Ali investments and more top news stories ... Read more