RYANAIR has announced that it expects to cut 3,000 jobs due to the coronavirus crisis.
The Dublin based airline announced a restructuring programme which could involve unpaid leave and pay cuts for workers up to 20%.
It says it will stop operating from a number of ‘bases across Europe’ until demand grows for air travel once again after the pandemic is over.
CEO, Michael O’Leary has agreed to extend his 50% pay cut until March 2021.
The airline said that flights will remain grounded until ‘at least July’ and passenger levels will not return to normal ‘until 2022 at the earliest’.
It expects to operate fewer than 1% of its scheduled flights between April and June.
In addition, it expects to carry less than half of its target of 44.6 million passengers between July and September.
It also expects to make a loss of €100 million between April and May, with additional losses also expected in the following months.
In a statement Ryanair said: “Our customers can look forward to more low air fares as we are forced to compete with flag carrier airlines who have received €30 billion in state aid ‘doping’ to allow them to sustain below-cost selling for months after this COVID-19 crisis has passed, as it certainly will over the coming months.”
Click here to read more News from The Olive Press.
