Emirates may ax more jobs; El Al set for state control

Emirates airlines looks set for a second straight day of job losses.

The Dubai-based carrier laid off hundreds of pilots and cabin crew Tuesday (June 9) in a bid to stave off a cash crunch.

Now Reuters sources say Wednesday (June 10) will see more of the same.

Pilots of A380 superjumbos are reportedly among those to go.

Air travel has been devastated by the slump in demand.

Emirates had said in May that new equity from the Dubai government would allow it to preserve its ‘skilled workforce’.

Now it predicts it will be four years before it can resume flights to all the 157 destinations it previously served.

Meanwhile Israeli airline El Al could be headed back into state ownership.

The company has been in talks with ministers over aid.

That may see the government buy new shares issued by the carrier, giving it a controlling stake.

El Al has already seen two years of losses, and racked up debts to renew its fleet.

It says it faces bankruptcy without state help.

The airline was privatised less than 20 years ago.

Now unions say they don’t object to state control, if that is what it takes to keep flying.

Video Transcript

- Emirates airlines looks set for a second straight day of job losses. The Dubai-based carrier laid off hundreds of pilots and cabin crew Tuesday in a bid to stave off a cash crunch. Now Reuters sources say Wednesday will see more of the same. Pilots of A380 superjumbos are reportedly among those to go.

Air travel has been devastated by the slump in demand. Emirates had said in May that new equity from the Dubai government would allow it to preserve its skilled workforce. Now it predicts it will be four years before it can resume flights to all the 157 destinations it previously served.

Meanwhile, Israeli airline El Al could be headed back into state ownership. The company has been in talks with ministers over aid. That may see the government buy new shares issued by the carrier, giving it a controlling stake. El Al has already seen two years of losses, and racked up debts to renew its fleet. It says it faces bankruptcy without state help. The airline was privatized less than 20 years ago. Now unions say they don't object to state control, if that is what it takes to keep flying.