S&P Global said that coronavirus pandemic could reduce global air passengers by up to 30 per cent in 2020/Bloomberg
by BloombergOman Air plans to cut jobs as the COVID-19 pandemic took its toll on the Gulf carrier’s flight schedule.
Abdulaziz Al Raisi, Oman Air’s Chief Executive Officer, said that the state-owned carrier had to reduce flights, suspend routes and park planes in a way that the company had never done before, adding that the airline can no longer sustain the current level of employment.
S&P Global said that coronavirus pandemic could reduce global air passengers by up to 30 per cent in 2020.
Oman Air joins airlines around the globe in reducing headcount after the outbreak prompted countries to shut borders and halt commercial flights. According to the International Air Transport Association (IATA), Middle East airlines had lost $7.2 billion in revenue from the pandemic as of 11 March 2020.
“Those holding positions that are no longer required will be let go but will be welcomed back as the airline resumes operations,” said Al Raisi.
IATA stated that governments must urgently consider providing aid to airlines in the Middle East to help them cope with a liquidity crisis due to the coronavirus outbreak.
MOST READ
BUSINESS
Fed rate cuts add pressure on Saudi banksBUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Dubai’s W Motors seeks funds to go electricBUSINESS
HSBC considering exiting from TurkeyBUSINESS
Zimbabwe turns to UAE to sell a stake in...BUSINESS
ADIA plans to sell a $2 billion stake in...BUSINESS
Amanat considers stake in VPS HealthcareBUSINESS
ECI, HSBC partner to support UAE businessesBUSINESS
Saudi Arabia’s NCB, Riyad Bank end merger talksBUSINESS
National Bank of Oman to exit from EgyptBUSINESS
DAMAC Chairman acquires Italy’s Roberto CavalliBUSINESS
DIEDC expands network of partners in IndonesiaBUSINESS
ADIB seeks to increase foreign ownership limitBUSINESS
HSBC, Emirates NBD cut jobs in UAE as banks...BUSINESS
Salt Bae backers seek a partner and a $1...BUSINESS
KIZAD, ECI partner to support UAE businessesBUSINESS
UAE plans to loosen cap on bank lending to...
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
