Over 800,000 jobs in airline industry at risk in MENA region

istock/Marcus Millo

The International Air Traffic Association is urging governments to provide state aid to their airlines.

Globally, airlines are facing a liquidity crisis and hundreds of thousands of jobs are at risk because of the coronavirus outbreak.

IATA Middle East Vice President Muhammad Ali Albakri says that even the most drastic cost cuts were being outstripped by falling revenue.

He said more than 800,000 jobs were directly at risk across 10 Middle East and North Africa countries including the United Arab Emirates, Saudi Arabia and Morocco.

The epidemic, which has killed more than 8,000 globally, has seen many airlines warn they may not survive the crisis.

IATA estimates the epidemic has cost Middle East airlines $7.2 billion in revenue as of March 11 with 16,000 flights cancelled since January.
 
The industry body is proposing direct state financial support, loans and loan guarantees and tax relief.

More from Business

  • DoH awards research projects over AED19 million to transform AD healthcare

    The Department of Health – Abu Dhabi (DoH), in partnership with the Authority of Social Contribution - Ma’an, has awarded over AED19 million in grants to support advancements in groundbreaking fields such as cell and gene therapies, precision medicine, and advanced cancer treatments.

  • UAE, Italy sign MoU to combat financial, economic crimes

    The UAE General Secretariat of the National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee (GS-NAMLCFTC) and the Italian Guardia di Finanza on Friday signed a Memorandum of Understanding for a strategic partnership in the fight against the emerging financial crime threats.

  • Putin says there is no time to sign new Ukraine gas transit deal this year

    President Vladimir Putin said on Thursday there was no time left this year to sign a new Ukrainian gas transit deal, and laid the blame firmly on Ukraine for refusing to extend the agreement that brings gas to Slovakia, the Czech Republic and Austria.

  • New tax programme for government employees

    Dubai Finance (DOF) and PwC Academy, the talent and skills development arm of PwC Middle East, have announced a strategic partnership to introduce a new Tax Professional Certificate aimed at tax professionals working within Dubai’s government entities.

  • Brazil says workers at BYD construction site victims of human trafficking

    Chinese workers found at a construction site for a factory owned by China's electric vehicle producer BYD in Brazil's Bahia state are victims of human trafficking, Brazilian labor authorities said on Thursday.