Air Arabia said it has been forced to cut jobs as the aviation industry seeks to recover from the business impact of COVID-19.
In a statement sent to ARN News, a spokesperson for the Sharjah-based airline said the layoffs have been kept to a "possible minimum" after they took a series of "alternative steps" over the past months to protect jobs.
The carrier, however, didn't specify how many people were impacted or which department they belonged to.
“With continued lockdown of air travel and impact of the COVID-19 pandemic prevailing in the global aviation sector, we have unfortunately been forced to make a necessary decision to let go a section of our staff members across the organisation," their statement read.
"Over the past months, we have been taking a series of steps to protect our staff and had to resort to the current restructuring as a last alternative.
“As we continue to manage the lasting impact of COVID-19 on the industry while sustaining our business, we have kept the layoffs to the possible minimum. We are hopeful that the sector will gain traction sooner, upon which we will further strengthen our workforce across the Air Arabia family.”
ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.
The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.
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Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.