Finance

Emirates may need to raise cash if air travel does not pick up By Reuters

© Reuters. FILE PHOTO: Emirates airline sees full fleet returning to the skies this year

DUBAI (Reuters) – Emirates is generating enough cash to operate but may need to raise more cash if air travel demand does not pick up in the next six months, its president said on Wednesday.

Air travel remains at low levels globally due to the coronavirus pandemic, leaving many planes grounded or flying near-empty.

“We are good for another six, seven or eight months in terms of cash. We have sufficient cash coming in to be able to keep the day to day operations at a neutral basis,” Tim Clark told the online World Aviation Festival.

“But like everybody else, if in six months global demand is where it is today then we are all going to face difficulties. Not just Emirates.”

The Dubai state carrier, which reported a loss of $3.4 billion in the first half of the year, has resumed flights with all 151 of its Boeing (NYSE:) 777 jets, which are mainly carrying cargo.

The airline is currently carrying around 20,000 to 30,000 passengers a day, Clark said without providing a pre-pandemic comparative figure.

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