Airlines Industry will face a Cyclone of recession in upcoming days

Corona Virus directly hit to the Airlines industry. Flight operations are reduced up to 85% and multinationals are adopting the policy of firing their employees from their jobs. In 1st stage they have fired over 55 age group emplyees, if this situation will continue it will go very bad especially for pilots, approximately more 100,000 pilots will be fire and more than 1 Million including professional and non clerical staff will be fire.



Top multinationals worldwide grounded their airoplanes and are in huge losses of the entire history. 

The world economic outlook of airlines industry.

 -Virgin fires more than 3000 people including 600 Pilots

- Virgin Australia folds. 

 -Finnair returns 12 planes and lays off 2,400 people

 -You grounds 22 planes and fires 4,100 people

 - Ryanair grounds 113 planes and gets rid of 900 pilots for the moment, 450  more in the coming months

 - Norwegian completely stops its long-haul activity!!!  The 787s are returned to the lessors

 - SAS returns 14 planes and fires 520 pilots... The Scandinavian states are studying a plan to liquidate Norwegian and SAS to rebuild a new company from their ashes

 - Ethiad cancels 18 orders for A350, grounds 10 A380 and 10 Boeing 787. Lays off 720 staff 

 - Emirate grounds 38 A380s and cancels all orders for the Boeing 777x (150 aircraft, the largest order for this type). They "invite" all employees over 56 to retire

 - Wizzair returns 32 A320s and lays off 1,200 people, including 200 pilots, another wave of 430 layoffs planned in the coming months.  Remaining employees will see their wages reduced by 30%

 - IAG (British Airways’ parent company) abandons the takeover of Air Europa (and will pay €40 million compensation for that).

-IAG (Iberia) grounds 56 planes, 

-IAG (British Airways) grounds 34 planes.  Everyone over 58 to retire

 - Luxair reduces its fleet by 50% (and associated redundancies)

- CSA abolishes its long-haul sector and keeps only 5 medium-haul aircraft

 - Eurowings goes into bankruptcy

- Brussels Airline reduces its fleet by 50% (and associated redundancies)

 - Luftansa plans to ground 72 aircraft (in two installments)

- Hop is studying the possibility of reducing fleet and staff by 50%

 Additional info:

Currently 60 new aircraft stored at Airbus with no buyers in sight (order cancellations) including 18 A350s

They forecast a minimum of 8,000 grounded planes by September.  With an average of 5.8 crews per plane (medium and long haul combined), that would make more than 90,000 unemployed pilots worldwide.

The air transport industry is on life support!

Top Stories:

Approver of Mr. Zardari's money laundering will invest in a Pakistani Bank
Clearing Cheques are no more headache 
Pakistan Banking Association Protest on banking timings
Female Branch Manager Harassed by her superior Bosses!!
Bank Islami Customers lose over 6 Million
SBP increased the limits of foreign remittances up to 5 times.
Agha Hasan Abidi a legendary Banker.
SBP Penalized banks up to Rs 184 Millions.
Suroor Group trying to save Summit Bank.
Court Grants 4 Days Physical remands of Ex- CEO Summit Bank

Viral Stories:

Corona Virus Origin??
2 years ago, South Korean drama series predicted Corona Virus
Mossad killed German Finance Minister
Chaudry Pervaiz highly criticised to Kaptaan's Waseem Akram
List of 22,000 Bureaucrats having dual nationalities.
Trend of Azan in Pakistan
PayPak another Milestone by Digital Pakistan.
How Corona Virus viral in Pakistan
Syed Mustafa Kamal Press Conference
Ali baba Products

Comments

Post a Comment

Popular posts from this blog

German Finance Minister Killed by USA and its allies

Image
Mr. Thomas Schaefer, 54, was found dead near a railway track on Saturday.  He knew the culprits behind the Corona epidemic and that Culprits are the killers. It could be possible Mosaad  killed Thomas Schaefer for the sack of their interest because Mr. Thomas Schaefer was exposing all facts of Corona Epidemic,  Mossad and its allies MI & CIA didn't like and killed him. Main stream media which is under control of Mossad and its allies continuously reported this murdered as Suicide. According to media reports; "The finance minister of Germany's Hesse state Thomas Schaefer committed suicide apparently after becoming “deeply worried” over how to cope with the economic fallout from the coronavirus, state premier Volker Bouffier said on Sunday." Hesse is home to Germany's financial capital Frankfurt, where major lenders like Deutsche Bank and Commerzbank have their headquarters. The European Central Bank is also located in Frankfurt. Germany economically is well
Read more

CORONA'S DRAMA FLOP, THRILLING REVELATIONS,

The global drama of Corona Virus has entered its final episodes, but despite the fact that the drama has flopped badly, its scriptwriters, producers and actors have to achieve and continue to achieve their great business goals. Even if it means using force, intimidation or transactions, The Americans have filed a petition in the White House against Bill Gates, calling for an investigation into the basis on which the Bill Gates Foundation rehearsed for the spread of the coronavirus several weeks before the outbreak. The petition described Bill Gates as a cruel, ruthless and untrustworthy man, acknowledging that Bill Gates had on several occasions stated that vaccines accounted for 10 to 15 percent of the world's depopulation. Bill Gates, with the help of two UN subsidiaries, including the WHO, secretly vaccinated Kenya and millions of children were sterilized, depending on how the situation will be introduced to the vaccine as possible of Corona, A few days before the petition was f
Read more