Israir CEO Says Airline Cut Workforce by 5% Amid Higher Fuel Costs

Israir chief executive Uri Sirkis said on October 15 that the airline had reduced its workforce by about 5% as part of an efficiency drive amid rising jet-fuel costs. He estimated that fuel prices at their current level would weigh on the company's annual results by $30 million to $40 million. Sirkis described the measures during an investment-festival interview. He also outlined investment in aircraft, long-haul services, hotels and aircraft maintenance in Cyprus as areas intended to support growth.