Jazeera Airways lays off 300 employees

By Backend Office, Desk Reporter
    Jazeera Airways Kuwait | Image used for representational purpose only

    Rohit Ramachandran, CEO of Jazeera Airways says that the airline is communicating to its lessors to try to delay or dismiss costs for as long as COVID -19 pandemic continues.

    Jazeera Airways Co., Kuwait’s low-cost airline solution has laid off about 300 employees which amounts to a third of its total workforce. The drastic measure was taken in an attempt to slash costs as the coronavirus adversely affects the airline industry.

    The airline has about $100 million in cash reserves and has not spoken to any banks about an investment or soliciting government funding.

    Airlines all over the world are taking a hit from the COVID-19-induced breakdown in the travel market. Japan Airlines Co. posted its first quarterly operating loss in at least eight years and stayed its annual dividend. Germany’s government is soliciting a 25% stake in Deutsche Lufthansa AG in exchange for a financial bailout, according to people close with the matter.

    In the region, Emirates and Etihad Airways who are both based in the United Arab Emirates, have warned that 85% of the world’s airlines would face bankruptcy by the end of the year without government interference.

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