The government of the emirate of Dubai pumped AED7.3 billion dirhams (USD2 billion) into Emirates (EK, Dubai International) 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 International) effective immediately, allowing for smoother connections via Dubai International.
"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.
While both carriers are government owned and have a one-way codeshare partnership, they are run and operate independently of each other. flydubai focusses on secondary and regional markets that are too thin for Emirates' widebody-only fleet. During the COVID-19 pandemic, multiple executives from both airlines touted closer cooperation as a way forward.
According to the ch-aviation PRO airlines module, Emirates currently places its code on all services operated by flydubai, although flydubai does not place its code on a single flight operated by its larger sister carrier.
