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Banks restrict Gulf Air loans
- United Arab Emirates: Wednesday, June 06 - 2007 at 07:31
Several UAE banks have suspended issuing credit to Gulf Air non-flying staff following reports of imminent redundancies and job cuts at the airline, Gulf News reported. Banks said the practice was standard after any major corporate restructuring is announced. Pilots and cabin crew who have received employment guarantees by Gulf Air will continue to receive credit, according to some banks surveyed by the daily.
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James McInerney, News EditorWednesday, June 06 - 2007 at 07:31 UAE local time (GMT+4)
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This article was updated on Sat Jun 09 2007.
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