Emirates to Extend 50% Salary Cuts Until September
Emirates to Extend 50% Salary Cuts Until September
(Bloomberg) --
Emirates has extended 50% salary cuts until September as the Dubai-based carrier steps up measures to preserve cash, according to an internal memo.
The basic salary reduction, which took effect on April 1, will be applied to all employees at grades 4 and above, the airline said in an internal email viewed by Bloomberg. “We continue to navigate the impact of Covid-19 on our business and are reviewing all possible options to preserve our cash position.”
Emirates didn’t immediately reply to an email seeking comment.
Similarly, Abu Dhabi’s Etihad Airways has extended its salary cuts until September, with a 25% reduction for junior staff and cabin crew and 50% for employees at manager level and above, a representative for the carrier said in an email. Housing allowances and other unidentified benefits continue to be paid, according to the statement.
Emirates Group said last week that it will be forced to cut jobs to reduce costs after the coronavirus pandemic grounded air travel. The group could slash the number of employees by about 30% from more than 105,000 at the end of March, people familiar with the matter said last month.
The world’s largest long-haul carrier will ramp up operations this week by offering more connection flights through its hub in Dubai.
©2020 Bloomberg L.P.