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Company News

Air Arabia in talks with government for funding, CEO says

DUBAI, Nov 11 (Reuters) - 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. ($1 = 3.6728 UAE dirham) (Writing by Alexander Cornwell, editing by Louise Heavens)

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