Emirates Will Cover Medical Expenses If Passengers Catch Covid-19 Pandemic

Emirates airline, the United Arab Emirates flag carrier, has become the world's first airline to offer to cover customers' medical expenses and quarantine costs should they contract Covid-19 during their trip.

The airline will pay medical expenses up to €150,000 ($173,000) and quarantine costs of up to €100 for 14 days, should they be diagnosed with the coronavirus during their travel, while away from home.

The cover will be available to all customers, at no extra cost, from now until October 31, 2020. It's valid for 31 days from the moment they fly the first leg of their trip, so passengers can continue to have the benefit even if they travel onwards from their Emirates destination.

Sheikh Ahmed bin Saeed Al Maktoum, Emirates group chairman and chief executive, said in a press release, "Emirates has worked hard to put in place measures at every step of the customer journey to mitigate risk of infection, and we have also revamped our booking policies to offer flexibility.

"We are now taking it to the next level, by being the first in the industry to offer our customers free global cover for Covid-19 medical expenses and quarantine costs should they incur these costs during their travel."

While Emirates is the first airline to take this step to boost traveler confidence, it's not the first player in the tourism industry to offer Covid payouts.

Central Asian nation Uzbekistan has promised the sum of $3,000 as compensation to visitors who contract Covid-19 while vacationing there.

The Mediterranean island of Cyprus, meanwhile, which reopened its borders to selected countries in June, is pledging to cover the cost of lodging, food, drink and medication for visitors who test positive for the virus during their stay.

Emirates is regularly named one of the world's top airlines in Skytrax's prestigious annual awards.

The UAE's strategic location between Oman and Saudi Arabia makes it a key connection for travelers heading from the West to the East and vice versa.

The airline's HQ is at Dubai International Airport, named the world's third busiest airport in 2018, and the carrier will be keen to resume its once bustling international operations.

Dubai real estate suffers major setback

Dubai's property sector suffered a series of blows this week after brokers confirmed a rise in distressed sales, a real estate guide downgraded its rating on residential property and an Islamic lender suspended new loans.

The once-booming real estate sector of the emirate is showing signs of collapsing due to the global credit crisis, as prices fall sharply and buyers struggle to get mortgage loans.

"There is a sizeable increase in the number of property owners in an urgent state to sell," Robert Macnair, sales director of Dubai-based Elysian Real Estate, told the media.

"It could be they have a large payment coming up or they've seen the market dropping over the last month ... there is a real sense of urgency."

Property prices on Dubai's Palm Jumeirah island, a man-made peninsula developed by government-owned Nakheel, have fallen as much as 40 percent since September, real estate brokers said on Thursday.

Elysian this week sent out a text message to up to 40,000 mobile phones advertising distressed property sales offering a luxury six bedroom, six bathroom villa in Dubailand, a multi-billion-dollar luxury theme park.

The villa advertised costs 21 million UAE dirhams ($5.72 million) - half its original price - and will be completed in 2009, the text read.

Dubai downgrade

Global Property Guide cut its long-term investment rating on Dubai residential property on Wednesday from neutral to negative due to the drop in gross rental yields from last year.

"Gross yields are now an average of 5.5 percent, significantly down from an average of 7.5 percent a year ago ... At these levels, Dubai is less attractive than it was previously as an investment property," it said in a research note.

Global Property Guide said Dubai has "an enormous" amount of new supply and expects prices to fall over the next 2-3 years.

To compound matters, Dubai Islamic mortgage lender Amlak AMLK.DU said it suspended new loans. This follows moves by several banks to tighten lending conditions in August and September.

"It is very hard to get loans now. Customers are suffering," Rehab Gouda, senior sales agent at Al Jabal Real Estate said.

"Either they have pre-approval from before the crisis, or they are cash buyers."

Source: Agencies