Worst is over, but Middle East airlines’ losses to top $4.8bln in 2020 – ZAWYA

Worst is over, but Middle East airlines’ losses to top $4.8bln in 2020 – ZAWYA

The region's carriers, which are now attempting to kick start passenger services, will lose $4.8 billion this year, the air transport body said.. The recovery for long-haul operators will also be delayed, while lower oil prices will exacerbate the downturn in the region.. One of the region's major carriers, Emirates has just confirmed that it will be laying off some of its employees.. In a nutshell, we can't keep our employees doing nothing for so long, and so we're going to have to let some of them go," Emirates president Tim Clark said last week.. Overall, load factors next year will be around 75 percent, still down from last year's 83 percent.. During the course of the crisis, carriers have acquired an additional $130 billion in debt..