The Company says that it is planning to cut 3,000 jobs and reduce staff pay by up to a fifth in response to the Covid-19 crisis
In a statement released this morning the airline said
“As a direct result of the unprecedented Covid-19 crisis, the grounding of all flights from mid-March until at least July, and the distorted state aid landscape in Europe, Ryanair now expects the recovery of passenger demand and pricing (to 2019 levels) will take at least two years, until summer 2022 at the earliest.”
Ryanair expects to operate less than 1% of its scheduled flying program in Apr, May & June 2020.
Its first quarter traffic of less than 150,000 passengers will be 99.5% behind the budget of 42.4m passengers.
While some return to flight services is expected in the second (July-Sept) quarter, Ryanair expects to carry no more than 50% of its original traffic target of 44.6m
For the full year ended March 2021, Ryanair now expects to carry less than 100m
passengers, more than 35% below its original 154m target.
Ryanair also said that it is in active negotiations with both Boeing, and Laudamotion’s A320 lessors to cut the number of planned aircraft deliveries over the next 24 months, to more accurately reflect a slower and more distorted EU air travel market in a post Covid-19 world.