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CORONAVIRUS: EMIRATES PLANS TO CUT DOWN NUMBER OF EMPLOYEES BY 30 PERCENT

Emirates Group is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring down its number of employees by about 30 per cent from more than 105,000.

A media reported on Sunday that the company was also considering speeding up the planned retirement of its A380 fleet.

An Emirates spokeswoman said that no public announcement has been made yet by the company regarding “redundancies at the airline,” but that the company is conducting a review of “costs and resourcing against business projections. Any such decision will be communicated in an appropriate fashion.

Like any responsible business would do, our executive team has directed all departments to conduct a thorough review of costs and resourcing against business projections,” the spokeswoman said.

Emirates, one of the world’s biggest long-haul airlines, said earlier in May that it would raise debt to help itself through the coronavirus pandemic, and may have to take tougher measures as it faces the most difficult months in its history.

The state-owned airline, which suspended regular passenger flights in March due to the virus outbreak that has shattered global travel demand, had said that a recovery in travel was at least 18 months away.

It reported a 21 per cent rise in profit for its financial year ending March 31, but said the pandemic had hit its fourth-quarter performance.

Bloomberg News reported that the airline said it would tap banks to raise debt in its first quarter to lessen the impact of the virus on cash flows.

@ Reuters

@ NAN


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