Lebanon’s TMA plans massive lay-off
Lebanon’s Trans Mediterranean Airways (TMA) has informed the Ministry of Labor of a plan to cut 250 employees from its payroll, letting go more than two-thirds of its workforce.
Company officials attribute the lay-off plan to the global downturn in the airline industry. TMA has been incurring losses over the past few years and has estimated net losses of $9.3 million for 2003.
TMA's current manpower is composed of around 307 employees, including 60 crewmembers and 107 maintenance engineers and technicians.
Established in 1953, TMA is is based at Beirut International Airport (BIA) as the only Lebanese all-cargo carrier linking the Arab World to Europe, the Far East and North America. The company's fleet is composed of five B707-320C all-cargo, hush-kited stage-II aircraft. — (menareport.com)
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