Emirates, the world's biggest long-haul airline, joined its peers globally on Sunday and confirmed it is also laying off staff as a result of the coronavirus pandemic, which brought air travel to a halt.
The airline said that the pandemic had affected many industries around the world "and although we have endeavoured to sustain the current family as is, we reviewed all possible scenarios in order to sustain our business operations, but have come to the conclusion that we unfortunately have to say goodbye to a few of the wonderful people that worked with us", according to a statement carried by the Dubai Government media office on Sunday.
Emirates, which employs more than 60,000 people, did not quantify the redundancies or specify which functions would be affected.
The airline said it does not "view this [step] lightly" and will work with affected employees to ensure they are treated "with fairness and respect" and that they are "taken care of with necessary means".
Earlier this month, the airline said it was taking "aggressive" measures to protect its business from the effects of the Covid-19 pandemic while navigating a gradual return to operations in the coming months after reporting a 21 per cent rise in annual profit.
While Emirates' net income for the financial year ending March 31 rose to Dh1.1 billion, from Dh871 million a year ago, due to "healthy" demand and cheaper fuel, the Covid-19 crisis affected its fourth quarter.
Annual revenue declined 6 per cent year on year to Dh92bn due to a temporary suspension of passenger flights in March and the 45-day runway closure at Dubai International Airport.
"For the first 11 months of [the] 2019-20 [financial year], Emirates and dnata were performing strongly, and we were on track to deliver against our business targets," Sheikh Ahmed bin Saeed, Emirates chairman, said.
"However, from mid-February things changed rapidly as the Covid-19 pandemic swept across the world, causing a sudden and tremendous drop in demand for international air travel as countries closed their borders and imposed stringent travel restrictions."
The outbreak has hit the global aviation industry, with strict movement restrictions wiping out passenger travel demand.
Global airlines face a severe liquidity crisis and bankruptcy after revenue plummeted due to reduced capacity or complete passenger flight suspensions.
Emirates' revenue fell 4 per cent as it carried 56.2 million passengers.
The airline reduced seat capacity by 6 per cent, leading to passenger load factor of 78.5 per cent, reflecting its "successful capacity management and positive travel demand across nearly all markets up until the outbreak of Covid-19 in the last quarter".
Emirates Group, which includes airport and travel services arm dnata, reported an annual 28 per cent decline in profit to Dh1.7bn in the fourth quarter due to Covid-19.
Annual revenue dropped 5 per cent to Dh104bn.
A strong dollar and unfavourable currency swings eroded the group's profits by Dh1bn, the group said.
The group said it would not pay a dividend to the emirate's government, which holds a stake through the Investment Corporation of Dubai, because of the "unprecedented business environment" and the need to protect its liquidity position.
Emirates Group ended the year with a cash balance of Dh25.6bn.
MATCH INFO
Southampton 0
Manchester City 1 (Sterling 16')
Man of the match: Kevin de Bruyne (Manchester City)
Our House, Louise Candlish,
Simon & Schuster
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Global state-owned investor ranking by size
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Superliminal%20
%3Cp%3EDeveloper%3A%20Pillow%20Castle%20Games%0D%3Cbr%3EPublisher%3A%20Pillow%20Castle%20Games%0D%3Cbr%3EConsole%3A%20PlayStation%204%26amp%3B5%2C%20Xbox%20Series%20One%20%26amp%3B%20X%2FS%2C%20Nintendo%20Switch%2C%20PC%20and%20Mac%0D%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
RESULTS
Catchweight 63.5kg: Shakriyor Juraev (UZB) beat Bahez Khoshnaw (IRQ). Round 3 TKO (body kick)
Lightweight: Nart Abida (JOR) beat Moussa Salih (MAR). Round 1 by rear naked choke
Catchweight 79kg: Laid Zerhouni (ALG) beat Ahmed Saeb (IRQ). Round 1 TKO (punches)
Catchweight 58kg: Omar Al Hussaini (UAE) beat Mohamed Sahabdeen (SLA) Round 1 rear naked choke
Flyweight: Lina Fayyad (JOR) beat Sophia Haddouche (ALG) Round 2 TKO (ground and pound)
Catchweight 80kg: Badreddine Diani (MAR) beat Sofiane Aïssaoui (ALG) Round 2 TKO
Flyweight: Sabriye Sengul (TUR) beat Mona Ftouhi (TUN). Unanimous decision
Middleweight: Kher Khalifa Eshoushan (LIB) beat Essa Basem (JOR). Round 1 rear naked choke
Heavyweight: Mohamed Jumaa (SUD) beat Hassen Rahat (MAR). Round 1 TKO (ground and pound)
Lightweight: Abdullah Mohammad Ali Musalim (UAE beat Omar Emad (EGY). Round 1 triangle choke
Catchweight 62kg: Ali Taleb (IRQ) beat Mohamed El Mesbahi (MAR). Round 2 KO
Catchweight 88kg: Mohamad Osseili (LEB) beat Samir Zaidi (COM). Unanimous decision
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
THE POPE'S ITINERARY
Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial
Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Cargoz%3Cbr%3E%3Cstrong%3EDate%20started%3A%3C%2Fstrong%3E%20January%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Premlal%20Pullisserry%20and%20Lijo%20Antony%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2030%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Seed%3C%2Fp%3E%0A
The biog
Favourite film: The Notebook
Favourite book: What I know for sure by Oprah Winfrey
Favourite quote: “Social equality is the only basis of human happiness” Nelson Madela. Hometown: Emmen, The Netherlands
Favourite activities: Walking on the beach, eating at restaurants and spending time with friends
Job: Founder and Managing Director of Mawaheb from Beautiful Peopl
