Emirates Group has revealed plans to cut about 30,000 jobs which will bring down its number of employees to about 30 per cent from more than 105,000, as part of efforts to reduce costs amid the coronavirus outbreak.
According to reports on Sunday, the company was also considering speeding up the planned retirement of its A380 fleet.
A spokesperson of the organization stated 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.
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 had said that a recovery in travel was at least 18 months away, thereby suspending regular passenger flights in March due to the virus outbreak that has shattered global travel demand.
Also, the airline 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.
In the meantime, further reports suggest that the airline had announced efforts to tap banks to raise debt in its first quarter to lessen the impact of the virus on cash flows.
The airline joins a host of other businesses that have been badly hit by the outbreak of the pandemic which has claimed thousands of lives globally.
Players in the aviation sector have been forced to ground activities due to the severity of the global health crisis.