Air Arabia has lost $57.86 million in the first nine months of 2020
Air Arabia seeks government funding
CEO of Air Arabia says UAE-listed airline company is in talks with Emirati government for financial assistance to help it get through coronavirus crisis.
Wednesday 11/11/2020
Air Arabia has lost $57.86 million in the first nine months of 2020
DUBAI - 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.