Most airlines expect job cuts over next 12 months: survey

GENEVA: Most airlines are considering downsizing their staff over the next 12 months due to the coronavirus crisis, the International Air Transport Association said Wednesday, citing an internal survey. “With the recovery in demand likely to be slow, 55 percent of respondents expect to have to decrease employment levels over the coming 12 months,” global aviation body IATA said in a statement following a quarterly business confidence survey of more than 300 airlines. Some 45 percent reported having already reduced their staff numbers in the second quarter of 2020 due to cost-cutting measures following the COVID-19 pandemic. Meanwhile 57 percent expect passenger yields to fall over the next 12 months and think ticket prices could fall due to the weak recovery in demand. Some 19 percent expect to see a gradual increase in fares once the balance between supply and demand is restored. Geneva-based IATA represents some 290 airlines comprising 82 percent of global air traffic.