The photo has been used for illustrative purposes.
Global airlines warned on Tuesday that the coronavirus-stricken industry was on course to burn through another $77 billion in cash in the second half of 2020, calling on governments to renew expiring wage support programmes.
Airlines face another bleak year with steeper losses than previously forecast, as some regions struggle to speed up Covid-19 vaccination campaigns and control virus variants, an industry group said on Wednesday.
Global airlines warned that 25 million jobs across the world could be at risk from the coronavirus travel downturn and the industry’s representative body said airline finances were so fragile they could not afford to refund customers.
"Airlines are resilient. People are flying in ever greater numbers. And cargo is performing well against a backdrop of growing economic uncertainty," IATA director-general Willie Walsh said in an upgraded industry forecast for 2022.
The International Monetary Fund (IMF) on Friday slashed its US economic growth forecast as aggressive Federal Reserve interest rate hikes cool demand but predicted that the United States would “narrowly” avoid a recession.
Dubai has recorded 2,624 real estate and properties transactions at a value of Dhs 8 billion in total during the week ending 24th June 2022. The DLD report said that 274 plots were sold for Dhs1.15 billion,
Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa) and Chairman of Enoc and Dragon Oil, Mikayil Jabbarov, the Minister of Economy