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Business, Video, Aviation

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

GCC airlines fly into losses amidst Covid-19

Aviation has been one of the worst hit industries amidst the COVID-19 crisis
By TRENDS Desk
October 3, 2021 6:42 pm
  • The pandemic has forced airlines to lay off staff and seek government bailouts
  • 2020 was the worst year on record for the struggling sector

Aviation has been one of the industries worst hit by the COVID-19 crisis, forcing airlines to lay off staff and seek government bailouts.

With $126bn in losses, airline industry recently confirmed that 2020 was the worst year on record for the struggling sector.

Abu Dhabi government-owned Etihad, which posted a core operating loss of $800 million in 2019, has also slashed jobs and salaries.

Regionally, Etihad, which grounded most of its fleet between March and June, posted a core operating loss of $1.7 billion for 2020.

Qatar Airways Group recently reported a doubling of annual losses to 14.9 billion riyal ($4.1 billion), hit by the COVID-19 collapse in long-haul travel and aircraft impairment charges.

 

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