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Air Arabia in talks with government for funding, CEO says

United Arab Emirates-listed Air Arabia is in talks with the government over financial assistance to help it get through the coronavirus crisis, its chief executive said on Wednesday. Asked if the budget carrier would need interim funding from the government, CEO Adel Ali told a virtual CAPA aviation summit: "We have put a request in.

Reuters | Dubai | Updated: 11-11-2020 14:54 IST | Created: 11-11-2020 14:42 IST
Air Arabia in talks with government for funding, CEO says
Representative image Image Credit: ANI

United Arab Emirates-listed Air Arabia is in talks with the government over financial assistance to help it get through the coronavirus crisis, its chief executive said on Wednesday.

Asked if the budget carrier would need interim funding from the government, CEO Adel Ali told a virtual CAPA aviation summit: "We have put a request in. If it comes, we will be very happy. It will help us to pay some of our outstanding quicker. If it doesn't, I think we can survive hopefully for some time to come."

Air Arabia has lost 212.5 million dirhams ($57.86 million)in the first nine months of the year, compared with a 791 million dirham profit in the same period a year ago.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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