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FINANCIAL NEWS
Royal Jet cuts jobs
14 Apr 2011
(MENAFN) Royal Jet’s chief executive, Shane O’Hare, said that since the Middle East’s largest executive jet operator is reorganizing its business and structure, it has cut jobs all over the company, reported The National.
O’Hare added that due to the political turmoil in the region, the economic crisis, market conditions, and competitive factors and pricing, the demand for business jet has decreased to 25 percent.
He said that although the company went through tough period, it still gains profits and business is expected to increase 15 percent this year.
It is worth noting that Royal Jet owns 11 executive jets including six Boeing 737s and is owned by Presidential Flight and Abu Dhabi Aviation.
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