Ryanair to lay off 3,000, cancel 99% of flights amid coronavirus - Business Insider

The European low-cost airline Ryanair said Friday that it would operate less than 1% of its normal schedule in June and is planning to cut 3,000 jobs, warning that it expects its recovery from the coronavirus to take at least two years.

The airline said it expects to carry fewer than 150,000 passengers from May through July, as travel restrictions and anxieties over the pandemic persist in Europe. It had originally projected 42.4 million passengers during the quarter. Although it said that it expected some demand to resume between July and September, it expected less than half of the 44.6 million passengers it had previously planned for.

In addition to the job cuts, which will mainly affect flight attendants and pilots, the airline is also looking at pay cuts of up to 20%, as well as offering unpaid leaves to some employees and closing bases across Europe. CEO Michael O'Leary has cut his pay by 50%. "When Ryanair returns to meaningful flying from July, the competitive landscape in Europe will be distorted by unprecedented volumes of State Aid from some EU Governments to their 'national' airlines," the company said. "Currently this amounts to over €30 billion."

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