- The recent International Air Transport Association (IATA) financial outlook for the global air transport industry said the airlines are expected to lose $84.3 billion in 2020.
- AirAsia is expected to let go of several of its employees in India as its part-owner AirAsiaBerhad struggles to maintain its group operations.
- The Dubai based carrier Emirates laid-off around 792 employees, according to reports.
Airlines around the globe are still struggling to turn around even after the government announced certain relaxation for the aviation industry. The pandemic and the resultant nationwide lockdown has severely affected economic activities around the world, and the financial crisis in the aviation sectors is expected to have prolonged effect compared to the other sectors, said a senior official at SBI, while speaking at a webinar organised by the PHD Chamber of Commerce and Industry.
The recent International Air Transport Association (IATA) financial outlook for the global air transport industry said the airlines are expected to lose $84.3 billion in 2020. It also said the airline industry’s revenue is expected to fall by 50% to $419 billion from $838 billion in 2019.
Impact of the airline struggle has been pretty open where airlines enforced cost-cutting measures ranging from salary cuts to furloughs.
Here are some of the massive layoffs that affected the lives of many in the aviation industry