Some 45% of airlines reported having already reduced their staff numbers in the second quarter of 2020 due to cost-cutting measures following the COVID-19 pandemic.
Most airlines are considering downsizing their staff over the next 12 months due to the coronavirus crisis, the International Air Transport Association said Wednesday, citing an internal survey. 'With the recovery in demand likely to be slow, 55 percent of respondents expect to have to decrease
"With the recovery in demand likely to be slow, 55 percent of respondents expect to have to decrease employment levels over the coming 12 months," global aviation body IATA said in a statement following a quarterly business confidence survey of more than 300 airlines.
Some 45 percent reported having already reduced their staff numbers in the second quarter of 2020 due to cost-cutting measures following the COVID-19 pandemic.Meanwhile 57 percent expect passenger yields to fall over the next 12 months and think ticket prices could fall due to the weak recovery in demand.
Some 19 percent expect to see a gradual increase in fares once the balance between supply and demand is restored.Geneva-based IATA represents some 290 airlines comprising 82 percent of global air traffic.It expects air traffic to return to pre-crisis levels in 2024 and estimates that traffic will fall by 63 percent in 2020 compared to 2019, with a shortfall of $419 billion in the sector due to the coronavirus crisis. headtopics.com
Europe and the Asia-Pacific region are expected to be the first to return to 2019 traffic levels, while the Americas are expected to experience a slower recovery, according to IATA.The aviation sector has been hit hard by the crisis, with almost all aircraft fleets grounded and tens of thousands of jobs lost.
The US company United has announced that it could lay off up to 36,000 employees. American Airlines has cited the figure of 25,000 redundancies.Germany's Lufthansa wants to cut 22,000 jobs, Air Canada 20,000, British Airways 12,000, Air France-KLM up to 12,500, Australia's Qantas 6,000, Scandinavia's SAS 5,000 and Britain's easyJet 4,500.
LATAM, the largest airline in Latin America, has announced the loss of 2,700 jobs.Virgin Australia announced Wednesday that it would close budget subsidiary Tigerair Australia and lay off 3,000 staff as it prepares to relaunch under new owners. Read more: Yahoo Singapore »
Minneapolis jury convicts ex-policeman Derek Chauvin of murdering George Floyd
Sept 12 start date for EPL too early for Chelsea: Frank LampardChelsea manager Frank Lampard said starting the new English Premier League season on Sept 12 is too early and his players run the risk of suffering injuries, given the short turnaround between campaigns. Chelsea trail Bayern Munich 3-0 heading into the second leg of their...
Malaysia's police recommend charging 12 suspects in fireman Adib's death, new inquestPETALING JAYA (THE STAR/ASIA NEWS NETWORK) - Malaysia's Home Minister Hamzah Zainuddin said on Tuesday (Aug 4) that the police have recommended charging 12 suspects related to the death of firefighter Muhammad Adib Mohd Kassim, as well as a new inquest into the case.. Read more at straitstimes.com.
Religious leaders consulted in choosing 12 sites allowed to host more congregants, says MCCYSINGAPORE - The 12 religious organisations that will have more congregants for prayers were chosen after consulting faith leaders and they reflect the religious diversity here, said the Ministry of Culture, Community and Youth (MCCY) on Wednesday (Aug 5).. Read more at straitstimes.com.
Virgin Australia to cut 3,000 jobs, focus on short haul under new ownerSYDNEY (BLOOMBERG) - Virgin Australia Holdings will cut a third of its workforce under the ownership of Bain Capital as the buyout firm attempts to resurrect the airline during the industry's worst-ever crisis.. Read more at straitstimes.com.
Hotel group Accor to cut 1,000 jobs after coronavirus lossPARIS (AFP) - France's Accor, the world's sixth largest hotel chain, said on Tuesday (Aug 4) it was slashing 1,000 jobs worldwide in a major cost cutting plan accelerated by the effects of the coronavirus pandemic.. Read more at straitstimes.com.
Football: Arsenal to cut jobs as COVID-19 bitesFA Cup winners Arsenal announced on Wednesday they were planning to cut 55 jobs due to the damaging effect of the coronavirus pandemic on the ...