The airline industry is suffering. Like the British Airways or Icelandair companies, the Ryanair group informs this Friday that it plans 3,000 job cuts in the coming months in order to limit, according to him, the economic damage created by the coronavirus pandemic, which nails planes at ground. This redundancy plan, which mainly concerns pilots and aircrew, will affect 15% of the group's total workforce of 19,000 employees.
Ryanair also specifies that its flights will be stopped until at least July, and that it will take two years, summer 2022, for a return to normal. In this press release, the company specifies that its CEO, the Irishman Michael O'Leary, gives up 50% of his salary until March 2021. What he had already decided for the months of April and May 2020.
€ 100m in expected losses
Ryanair, which also owns the companies Lauda (Austria), Malta Air (Malta) and Buzz (Poland), is now planning consultations with the unions on this restructuring plan. The company plans in particular that employees will take leave without pay and that others will suffer a 20% reduction in their wages.
Due to flight restrictions due to the coronavirus pandemic, Ryanair informs that it will only operate 1% of its routes in April, May and June 2020 for a traffic of 150,000 passengers against 42 million expected. For the whole year between March 2020 and March 2021, Ryanair expects less than 100 million passengers against 154 million expected. A net loss of 100 million euros is expected by the group.
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