Emirates is seeking to raise billions of dollars from loans after the coronavirus forced the airline to ground its passenger fleet, according to people with knowledge of the matter.
The carrier is reaching out to local and international banks, the people said, asking not to be identified because the information is private. A spokesperson for Dubai-owned Emirates declined to comment.
Dubai’s government last week stepped in to shield the airline and said it would receive unspecified financial aid. Airlines around the world have grounded their fleets, laid off staff and requested government support for survival.
Emirates, whose fleet consists of all wide-body aircraft, had turned Dubai into a hub for global travel, typically operating more than 500 flights a day.
— Bloomberg