Coronavirus has left drastic impact on various economic sectors, most affected among those are hotel and airline industry which eventually links to tourism. Workforce in these industries has been worst affected by deteriorating economic conditions since the start of 2020.
Now, as the situation is getting better, most of the countries are lifting ban imposed to curb the virus. This has allowed the resumption of various economic activities. Dubai, the hub of world tourism, and its most respected airline Emirates is now restoring employees salaries which were cut due to pandemic. In March, airline has stopped all passenger flights and cut the staff wages to half and frozen all new hiring. Airline was in deep trouble since the start of pandemic, but it is said that the airline had received $2 billion from Dubai since March.
Dubai Crown Prince and Chairman of the Executive Council, Sheikh Hamdan bin Mohammed Al Maktoum had previously said that the government would inject fresh equity into the company to help it overcome the coronavirus crisis.
Airline is now struggling to find new streams of revenue to bump up its cash vault keeping its operating cost to minimum. Emirates also trying to resume its all destinations by summer 2021.
0 comments:
Post a Comment