Qatar Airways to lay off pilots, cut wages

Qatar Airways pilots will now be included in previously announced job cuts. (AFP/File photo)
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Updated 15 June 2020

Qatar Airways to lay off pilots, cut wages

  • Qatar Airways pilots will now be included in previously announced job cuts

DUBAI: Qatar Airways will lay off some pilots and reduce the salaries of others by as much as a quarter due to the impact of the global coronavirus pandemic, according to two sources familiar with the matter.
Pilots will be included in previously announced job cuts, the sources said, while others will have their salaries reduced by 15 percent to 25 percent.
An airline spokesman declined to comment.
Bloomberg reported the layoffs and salary reduction, citing an internal letter that it said disclosed Qatari nationals were exempted from the wage cuts.
The state-owned carrier has previously deferred salary payments, with some employees receiving half their wages from April to June to be paid back later.
Qatar Airways Group, which includes the airline, Hamad International Airport and other aviation assets in Doha, previously said it would lay off close to 20 percent of its more than 40,000-member workforce.
It later said fewer could be laid off.


Libya’s NOC says production to rise as it seeks to revive oil industry

Updated 22 September 2020

Libya’s NOC says production to rise as it seeks to revive oil industry

  • Libya produced around 1.2 million bpd – over 1 percent of global production – before the blockade
  • Libya’s return to the oil market is sustainable

LONDON: Libya’s National Oil Company said it expected oil production to rise to 260,000 barrels per day (bpd) next week, as the OPEC member looks to revive its oil industry, crippled by a blockade since January.
Oil prices fell around 5 percent on Monday, partly due to the potential return of Libyan barrels to a market that’s already grappling with the prospect of collapsing demand from rising coronavirus cases.
Libya produced around 1.2 million bpd — over 1 percent of global production — before the blockade, which slashed the OPEC member’s output to around 100,000 bpd.
NOC, in a statement late on Monday, said it is preparing to resume exports from “secure ports” with oil tankers expected to begin arriving from Wednesday to load crude in storage over the next 72 hours.
As an initial step, exports are set to resume from the Marsa El Hariga and Brega oil terminals, it said.
The Marlin Shikoku tanker is making its way to Hariga where it is expected to load a cargo for trader Unipec, according to shipping data and traders.
Eastern Libyan commander Khalifa Haftar said last week his forces would lift their eight-month blockade of oil exports.
NOC insists it will only resume oil operations at facilities devoid of military presence.
Nearly a decade after rebel fighters backed by NATO air strikes overthrew dictator Muammar Qaddafi, Libya remains in chaos, with no central government.
The unrest has battered its oil industry, slashing production capacity down from 1.6 million bpd.
Goldman Sachs said Libya’s return should not derail the oil market’s recovery, with an upside risk to production likely to be offset by higher compliance with production cuts from other OPEC members.
“We see both logistical and political risks to a fast and sustainable increase in production,” the bank said. It expects a 400,000 bpd increase in Libyan production by December.
The Organization of the Petroleum Exporting Countries and allies led by Russia, are closely watching the Libya situation, waiting to see if this time Libya’s return to the oil market is sustainable, sources told Reuters.