The COVID-19 pandemic has been detrimental for numerous industries, with aviation & tourism being the worst affected. Announcements regarding closed in both these industries are released daily, with the most recent coming from Emirates Airlines. The chief executive officer of Emirates Airlines confirmed that nine thousand jobs are being terminated amid the coronavirus pandemic. This marks the 1st time that Emirates has disclosed their job losses to an international community, with those losses being minimal since their launch in 1985.
Emirates Airlines maintained workforce volumes at sixty thousand employed staff, with those individuals originating from different nations. Emirates is multinational & supports workforces worldwide in dozens of airports. When asked by BBC Business what the total number of job losses will be seen with Emirates, Sir Tim Clark remarked a percentage figure of fifteen. This follows after operations were terminated amid social distancing requirements & international travelling bans, prompting all aircraft to be docked at international hangar bays.
Sir Tim Clark emphasized that Emirates Airlines isn’t being affected to the same extent as others. Those sentiments are correct, with their brand becoming internationally famous & synonymous with first-class business executives. Profits were steadily rising before the COVID-19 pandemic, providing Emirates Airlines with significant reserve funds. It’s not known how long these funds can sustain their daily losses, with bailouts also possible from Middle Eastern Princes.
Financial burdens associated with the coronavirus pandemic has forced Emirates Airlines to take drastic measures, informing 700 Pilots that their services wouldn’t be required because of “Over Redundancy Concerns”. An additional 1200 Pilots were told that their positions would be potentially lost, citing concerns of financial losses with the COVID-19 pandemic.
Aviation experts are now questioning if Emirates Airlines should selloff or scrap their Airbus A380s, the largest passenger superjumbo jet. This would provide them with the required finances to sustain their workforces throughout the pandemic, without depleting their reserve funds. It’s highly unlikely that Emirates Airlines will sacrifice their fleet for the benefit of employed pilots. It should be mentioned that the International Air Transport Association anticipates $84 billion in worldwide aviation losses. Emirates Airlines will sustain a small percentage of these losses.