👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Etihad asks cabin crew to take up to six months unpaid leave: memo

Published 08/25/2020, 04:30 AM
Updated 08/25/2020, 04:35 AM
© Reuters. FILE PHOTO: Etihad Boeing 787 Dreamliner aircraft takes off from Zurich Airport

By Aziz El Yaakoubi and Alexander Cornwell

DUBAI (Reuters) - Etihad Airways is asking cabin crew to take up to six months unpaid leave from September as it tries to manage the impact of the COVID-19 pandemic, according to an internal memo and two sources familiar with the matter.

The Abu Dhabi state carrier, which lost $758 million in the first half of the year, has been gradually resuming passenger services since June after grounding flights in March.

In an internal memo, staff were told that the airline has more cabin crew than are required and that many are not being rostered on flights, which is not sustainable for the business.

Cabin crew can take between 10 days to six months of unpaid leave from Sept. 16, the email said.

Etihad did not immediately respond to an emailed request for comment.

The airline, which had been restructuring before the pandemic and had lost $5.62 billion in the four years to 2020, has cut thousands of jobs this year, sources have told Reuters.

© Reuters. FILE PHOTO: Etihad Boeing 787 Dreamliner aircraft takes off from Zurich Airport

Aviation has been one of the worst-hit industries during the pandemic and airlines around the world expect it to take years before travel returns to pre-pandemic levels.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.