India’s largest budget airline, IndiGo, announced plans to lay off 10% of its workforce in the wake of the economic crisis caused by the coronavirus pandemic.
According to details, the chief executive officer (CEO) of the Indian airline, Ronojoy Dutta, on Monday announced that the airline was forced to cut costs due to an unusual drop in demand.
“From where things stand currently, it is impossible for our company to fly through this economic storm without making some sacrifices,” CEO said in a statement.
“After carefully assessing and reviewing all possible scenarios, it is clear that we will need to bid a painful adieu to 10 percent of our workforce,” he added.
According to the local media, IndiGo employs around 24,000 people.
Carriers around the world have been badly hit by the pandemic, with many filing for bankruptcy, implementing hefty cuts or asking governments for huge public rescue plans.
Global airlines will suffer a record net loss of $84.3 billion this year, more than double the $31 billion in loss incurred during the 2008-2009 global financial crisis, according to International Air Transport Association (IATA).
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