Published on : Saturday, May 2, 2020
Resumption of services cannot be expected until at least July and job losses will largely be among pilots and cabin crew, with all remaining staff set to take a 20 per cent pay cut.
The airline mentioned that a number of bases are expected to be closed across Europe and Group chief executive, Michael O’Leary, whose pay was cut by 50 per cent for April and May, has now agreed to extend this pay cut to March next year.
According to Ryanair , the demand for air travel is not expected to recover fully until the summer of 2022.
During the first three months of the year, the Irish carrier welcomed just 150,000 passengers, more than 99 per cent fewer than the expected 42 million and the airline is expected to operate just one per cent of its planned services this month and next.
The airline mentioned that for the full year ending in March it now expects to carry less than 100 million passengers, more than a third less than its original 154 million target and when scheduled flights return in Europe, sometime in July, Ryanair believes it will take some time for passenger volumes to return.
It is expected by Ryanair that traffic on reduced flight schedules will be stimulated by significant price discounting.
Tags: Ryanair