Ryanair to cut 3,000 jobs amid coronavirus pandemic
Ryanair is planning to cut 3,000 jobs, equating to roughly 15 per cent of its workforce, as part of restructuring measures to help survive the coronavirus pandemic.
The airline’s chief, Michael O’Leary, said that the cuts were the bare minimum required “just to survive the next 12 months”.
Speaking to the BBC, O’Leary warned that more cuts may be needed in future if a vaccine or cure for Covid-19 is not developed.
The jobs that are at risk are primarily pilot and cabin crew roles according to the airline, while any staff remaining are likely to face pay cuts of up to 20 per cent.
The Ryanair boss has cut his own salary by 50 per cent for April and May this year, and has now extended his reduced pay package until March 2021.
O’Leary said that some UK regional hubs may be closed as part of the restructuring without specifying which, but said that Ryanair was hoping to confirm full details of the measures by July 1.
Meanwhile, any Ryanair customers who have had their flights cancelled as a result of the outbreak could be waiting up to six months to receive a refund.
O’Leary said that with a reduced number of working staff, the operator was struggling to cope with 25 million refund requests but promised that those wanting a refund would receive one.
The airline expects to report net losses of over £87 million for the first three months of 2020, with more losses expected in Q2.
O’Leary also hit out at rival flag carrier airlines, who he accused of benefiting from over “€30 billion in unlawful state aid, in breach of both EU state aid and competition rules", while Ryanair claims it has been using its own cash reserves of almost €4 billion to see out the crisis.