DUBAI: Qatar Airways is planning to cut a significant number of jobs because travel has been disrupted by the coronavirus pandemic, and told cabin crew to prepare for redundancies, according to a company notice seen by Reuters.
The state-owned airline, one of few global carriers still operating scheduled services, said in March it was burning through its cash reserves and would eventually seek government aid.
“We have to face a new reality, where many borders are closed, rendering many of our destinations closed and aircraft grounded as a result, with no foreseeable outlook for immediate, positive change,” Chief Executive Akbar Al-Baker said in the notice to cabin crew.
“The truth is, we simply cannot sustain the current numbers and we need to make a substantial number of jobs redundant — inclusive of Cabin Crew.”
A Qatar Airways spokesman confirmed a number of roles were being made redundant due to the impact of COVID-19.
“The unparalleled impact on our industry has caused significant challenges for all airlines and we must act decisively to protect the future of our business,” the spokesman told Reuters.
Neither the notice or the spokesman said how many jobs would be cut.
A Qatar Airways spokesman had no immediate comment when contacted by Reuters outside of normal business hours on Tuesday.
Affected employees would be paid their contractual dues and any owed overtime, the notice said, and those who are not able to immediately return to their home countries would be provided with housing and a living allowance until such a return was possible.
The airline said last month some staff would have their wages halved for at least three months though would be later paid back.
Qatar Airways Group, which counts the airline among its assets, had 46,684 employees at the end of its last reported financial year in March 2019.
Rivals Emirates and Etihad Airways have temporarily slashed wages as they try to weather the crisis, while budget carrier Air Arabia earlier on Tuesday said it had laid off 57 employees.
Qatar Airways planning substantial job cuts: Company notice
https://arab.news/jsh42
Qatar Airways planning substantial job cuts: Company notice
- Airline said in March it was burning through its cash reserves and would eventually seek government aid
Closing Bell: Saudi main market sheds 85 points to finish at 11,098
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06.
The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.
Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).
Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.
Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30.
On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.
Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50.
On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.
The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.
The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.
The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session.
Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.
Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.
Tadweer shares last traded at SR3.80, up 2.70 percent.
