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Why Emirates is running out of cash

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One of the worlds biggest airlines is running out of cash.

Dubai based, Emirates Airline may soon may soon be reaching out for government support, as many parts of the aviation sector still battle through the pain of COVID-19 and the impacts the pandemic is having on the global aviation industry.

We could soon see the Dubai-based airline reach out to the Dubai Government, requesting another equity injection if demand for air-travel doesn’t pick up.

The middle east carrier had hoped that the global rollout of the COVID-19 vaccine would renew confidence in the air travel but demand remains at very low levels. 

Many airlines are continuing to ground planes and some are even flying them near-empty.

The President of Emirates Airline says the carrier is “good for another six, seven or eight months in terms of cash” stating that the airline was just cutting it thin by covering operational costs through current cash flow.

Emirates, the operator of the world’s biggest A380 fleet lost $3.4 billion US dollars in the first half of the year however received $2billion in equity in 2020 from the Dubai Government. 

Emirates has resumed flights with all of its 151 Boeing triple seven jets which are mainly carrying cargo but in terms of passenger numbers Emirates are seeing between 20,000 to 30,000 passengers a day.

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

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Business

Can new tech hires be sustained?

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As technology companies continue to lay off staff, Australian research shows the future may be brighter

Australia has a target of delivering 1.2 million critical tech workers by 2030.

However, the sector has been battered by changes and layoffs since the pandemic came to light.

Kate Pounder is the CEO of the Tech Council of Australia, who said the pandemic changed the playbook for many companies across the sector.

“There is some evidence that there was a boom in job creation and company formation during the pandemic.”

The Tech Council of Australia recently revealed an 8 per cent increase in tech jobs last year.

It means Australia’s tech workforce is around 935,000.

“When there’s change in the labour market, you see people using that to start a business,” Ms Pounder said.

Despite the rapid layoffs across many major technology companies, Ms Pounder said for every job lost over the past quarter, 20 have been created.

“We are finding that the ease of people moving into jobs is getting a little better.

“It’s still challenging to find people in Australia, particularly for people in specialised roles,” she said.

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Tech layoffs reach their highest point in over 20 years

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There have been over 130,000 layoffs across the technology sector in the last five months

 
The technology sector was billed as the most exciting industry to work in.

Big offices, big dreams, big money were all part of the parcel for many companies attracting staff.

As many organisations caught onto the momentum of the pandemic, the same energy has not been particularly met on the other side.

Thousands of workers have since been laid off as the good times stopped rolling.

In fact, the technology sector’s layoffs are the highest since the dotcom bubble burst 22 years ago.

The BT Group is one of the latest companies cutting staff.

Fifty-five thousand have lost their jobs as part of a corporate restructure.

CEO Philip Jansen will freeze his £1.1 million salary until he retires, according to reports from Sky News.

The ground is also shifting as artificial intelligence takes hold and the economy worsens.

BT Group said it is laying off 11,000 staff because of the increased capacity for artificial intelligence in the workplace.

At the same time, companies like Apple and Goldman Sachs are among those restricting or banning the use of tools like ChatGPT amid privacy or data concerns.

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Business

Big tech crackdown on employees using ChatGPT

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Apple and Samsung are among companies restricting or banning the use of ChatGPT

 
Some of the world’s largest technology companies, including Apple and Amazon have banned or restricted OpenAI’s ChatGPT.

The tool relies on artificial intelligence to produce responses to prompts entered by users.

However, major brands remain concerned around the privacy risks because of the data ChatGPT uses to improve its accuracy.

Samsung has previously reported employees unintentionally leaking confidential internal source code and meeting recordings through ChatGPT.

Meanwhile, Apple has banned the web-platform over concerns surrounding data leaks.

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