#Kuwait’s Jazeera Airways Cuts Jobs as Virus Slams Travel Demand - Bloomberg

Kuwait’s Jazeera Airways Cuts Jobs as Virus Slams Travel Demand - Bloomberg

Kuwait’s Jazeera Airways Co. laid off another 200 employees in September as the coronavirus pandemic continued to hammer demand for air travel.

The airline instituted cost reductions at every level of business, Chief Executive Officer Rohit Ramachandran said. The layoffs, across all business lines but predominantly pilots and cabin crew, followed the termination of about 300 employees -- a third of the airline’s workforce -- in March.

“We would love to have them back as soon as possible, once the situation improves,” Ramachandran said by phone after the airline reported a third-quarter loss of 5.6 million dinars ($18.3 million). “As a prudent business, we have to look at all cost elements.”

The low-cost airline has also renegotiated leases with all lessors, “which gave us significant cost savings for the year,” said Ramachandran, who last month took his first salary since February. Other members of the leadership team took a 50% pay cut, while shareholders agreed to retain dividends due to them in the business, he said.