Emirates Group is considering slashing about 30,000 jobs, the deepest cuts yet in a global airline industry that’s been forced into near-hibernation by the coronavirus pandemic. The world’s biggest long-haul carrier could shrink a payroll that stood at 105,000 in March by as much as 30% as it reduces costs and realigns its operation to cope with a travel downturn expected to last for years, according to people familiar with the matter. The state-owned group raised $1.2 billion in new financing in the first quarter and is seeking aid from Dubai.

Emirates is also considering accelerating the retirement of its fleet of A380s, the massive double-decker jets that can seat more than 500 passengers, some of the people said, asking not to be identified because the information hasn’t been made public. Emirates, the biggest operator of the Airbus SE super-jumbo aircraft, said it is reviewing “costs and resourcing” levels against projections as it prepares to resume service after an almost two-month grounding.

“No announcement has been made regarding mass redundancies at the airline,” it said in an emailed statement. “Conserving cash, safeguarding our business, and preserving as much of our skilled workforce as possible remain our top priorities.”

Industry Contraction

Airlines across the globe are cutting jobs after being hit with an unprecedented near-total shutdown of travel. The measures taken at Emirates would be the most severe yet in absolute terms since nations locked down travel to curtail the spread of the virus.