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Emirates Airline Financially Robust, IPO in Government’s Hands

Emirates Airline has announced its satisfaction with current cash reserves, according to Chairman Sheikh Ahmed bin Saeed Al Maktoum. At this week’s Arab Travel Market conference in Dubai, Al Maktoum indicated that the potential listing of the company via an initial public offering (IPO) hinges on government approval.

Abu Dhabi’s Etihad Airways also opined on their IPO readiness, with CEO Antonoaldo Neves citing that any IPO launch remains a decision for shareholders. February saw discussions about announcing an Etihad IPO potentially valued at $1 billion.

On the fleet expansion front, Emirates will be receiving pre-ordered Boeing aircraft in the second quarter of 2025, stemming from a significant order placed in November 2023 for 55 additional 777-9s and 35 777-8s. This order boosts their 777-X model orders to a total of 205 units.

With ongoing developments, Cyprus remains a pivotal region for real estate, evidenced by March’s 5.6% upsurge in retail trade turnover, signifying a resilient market landscape.

Cypriot Government Employment Sees Modest Growth in April

Total government employment in Cyprus increased by 237 persons, a rise of 0.4 per cent, in April, compared to the same month in 2024, reaching a total of 55,490 employees, according to the state statistical service.

Employment in the civil service and the security forces decreased by 1.2 per cent and 1.1 per cent respectively, while the educational service saw an increase of 3.8 per cent.

Civil Service and Educational Service Breakdown

In April 2025, the civil service employed 11,960 permanent staff, 4,141 employees with contracts of indefinite duration, 1,458 with contracts of definite duration, and 5,798 hourly paid workers.

Permanent employees represented the highest proportion of the civil service workforce at 51.2 per cent, while employees with contracts of definite duration made up the lowest proportion at 6.2 per cent.

In the educational service, there were 12,461 permanent employees, 947 with contracts of indefinite duration, 4,824 with contracts of definite duration, and 141 hourly paid workers.

Permanent staff formed the majority of the educational workforce at 67.8 per cent, while hourly paid workers accounted for only 0.8 per cent.

Security Forces Breakdown

Within the security forces, 8,430 were permanent employees, 4,304 held contracts of indefinite duration, 267 were on definite-duration contracts, and 759 were hourly paid workers.

Permanent employees again made up the largest group in the security forces at 61.3 per cent, with definite-duration contracts representing just 1.9 per cent.

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